9033 State Route 350Raytown, MO 64133

Property Details for 9033 State Route 350

Year built

1960

Construction

WOOD

Lot size

2.76 AC

Property size (Sq ft)

12,300 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

45-520-15-01

APU

455201501

Description

This exceptional investment opportunity presents Towne Center, a 37,482 square foot shopping center in Raytown, Missouri. Located at 9033 E State Rte 350, this multi-tenant property boasts a strong 7.15% capitalization rate based on a stable net operating income (NOI) of $296,554. The asking price is $4,150,000, translating to $110.72 per square foot. Built in 1975 and situated on a 2.76-acre lot, the center provides 134 parking spaces. Currently operating at 100% occupancy, Towne Center benefits from a compelling tenant mix, including significant national retailers such as Dollar General, Rent-A-Center, and Tires Plus. The average tenant tenure is an impressive 16 years, demonstrating exceptional tenant loyalty and stability. This property sits along a major thoroughfare (MO-350 Hwy) experiencing over 40,000 vehicles daily, ensuring high visibility and accessibility. The property is zoned for retail use and is a highly desirable investment due to its consistent performance and prime location in a robust suburban area just south of Kansas City. Please note that this offering excludes the adjacent inline center at 9025-9027 E MO-350 Hwy. This is a turnkey investment ready for immediate income generation.

• CAP approach

  CAP return

  Valuation

  6%

  $3,389,246

  6.5%

  $3,128,535

  7%

  $2,905,068

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,217,144

  Geo Method

  $2,217,144

• Alternative Use

  Use

  Valuation

  Residential

  $2,639,036

  Hospitality

  $2,417,343

  Educational

  $2,011,201

  Medical

  $2,080,370

  Retail

  $3,128,535

Location Insight

City

Raytown

County

Jackson

State

Missouri

Latitude

38.9955

Longitude

-94.4763

CBSA code

28140

CBSA name

KANSAS CITY, MO-KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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