Overview

Description

The property benefits from prominent frontage on NE Barry Road at its signalized intersection with North Oak Trafficway (34,734 Combined AADT of 34,734). It is less than one mile from the junction of State Route 152 and Highway 169 (Combined AADT of 42,835). The site benefits from robust demographics with a total population of 150,141 within a 5-mile radius. Average household income within a 5-mile radius of the site is $87,829.

Across North Oak Trafficway is Oak Barry Center, anchored by At Home, Planet Fitness, and Taco Bell. Twin Creeks Shopping Center is located a little more than a mile from the subject property. Anchor tenants include Target, Petco Ross Dress for Less, Kohl’s, Ulta, Starbucks, Famous Footwear, and Chipotle.

Formerly Metro North Mall, a brand-new mixed-use development is being constructed less than a mile down NE Barry Road. Metro North Crossing will consist of a walkable main street including theater, grocer, retail and office space, a hotel, and 249 brand new luxury apartment units with 30,000 square feet of retail space on the first floor. Additional current tenants include T-Shotz state of the art driving range, Macy’s, McDonald’s, Olive Garden, Red Lobster, and more. Directly across the street from Metro Crossing is Harbor Freight Tools, Powerplay Entertainment Center Metro North, Miles of Exotics pet store, Great Clips and others.

Kansas City is the largest city in the state of Missouri and lies on the Kansas state line in east-central Missouri along Interstate 70/35, on the banks of the Missouri River. As of 2022, the current metro area population of Kansas City is 1,711,000.

Kansas City is headquarters to multiple Fortune 500 companies such as T-Mobile, H&R Block, Seaboard Corporation, Ford Assembly Plant, and YRC Worldwide Inc. Additional Fortune 1000 corporations such as Evergy, Kansas City Southern, Euronet, Russell Stover Candies, Hallmark Cards, Dairy Farmers of America, DST Systems, and more also have headquarters in Kansas City. Recently, Meta (formerly Facebook) selected KCMO for an $800 Million data center which is expected to be operating 2024.

This property is listed in conjunction with Missouri-licensed real estate broker Donna Maxwell of Kolb Properties.

Highlights

• Long Term Absolute Net Lease to CVS Pharmacy (NYSE: CVS) with 10 Years Remaining
• 18.4% Rent Increase at the Start of the First Option Period Providing an Excellent Hedge Against Inflation
• CVS Subleases a Portion of the Building to Advance Auto Parts
• MinuteClinic Location with Expanded Healthcare Services & Walk-In Appointments
• Corporate Guarantee by Investment Grade Tenant Rated BBB by Standard & Poor’s
• Priced Well Below Replacement Cost at $156/SF
• Below Market Rent $7.42/SF Ensuring Tenant’s Commitment to this Location

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