631 Murray RdLee's Summit, MO 64081

Property Details for 631 Murray Rd

Year built

2002

Construction

WOOD

Lot size

0.48 AC

Property size (Sq ft)

4,500 SF

Property type

Retail space

APN

62-120-09-02

APU

621200902

Description

This exceptional investment opportunity presents a 4,500 square foot retail shopping center in Lee's Summit, Missouri. Located at 631 NW Murray Rd, 64081, this single-story, 2002-built property boasts a prime location across from Summit Woods Crossing, a major super-regional shopping center. The property features two tenants, both operating since 2002, with a corporate AT&T lease guarantee providing exceptional security. The 100% occupied center offers a strong net operating income (NOI) of $195,521, resulting in a compelling 5.85% cap rate. The asking price is $3,345,000, translating to $743.33 per square foot. The property sits on a 0.54-acre lot with 23 parking spaces and benefits from annual rent bumps. The zoning is CP-2. The remaining lease term is six years. Lee's Summit's robust economy, fueled by major employers including a significant school district, Homeland Security, and several other large companies, ensures a stable and growing market. The high visibility location on a road with over 78,000 vehicles per day provides excellent exposure. This is a rare opportunity to acquire a well-positioned, high-performing retail investment in a thriving Missouri market.

• CAP approach

  CAP return

  Valuation

  6%

  $1,311,475

  6.5%

  $1,210,592

  7%

  $1,124,121

• Comparable approach

  Method

  Valuation

  Relative Method

  $811,150

  Geo Method

  $811,150

• Alternative Use

  Use

  Valuation

  Residential

  $1,021,180

  Hospitality

  $935,395

  Educational

  $778,238

  Medical

  $805,003

  Retail

  $1,210,592

Location Insight

City

Lees Summit

County

Jackson

State

Missouri

Latitude

38.9254

Longitude

-94.4053

CBSA code

28140

CBSA name

KANSAS CITY, MO-KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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