Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale the property located at 1801 Prospect Avenue in Kansas City, Missouri. This investment is being offered at $1,937,500, which represents a 7% capitalization rate. The subject property is an 8,320-square-foot, build-to-suit store originally constructed in 2018. There are currently 9.2 years remaining on the current lease term, which expires on March 31st, 2023. Within the initial term period, there is a 10% rental increase in year 11, resulting in an advantageous 7.14% capitalization rate. Additionally, accompanying the lease are six five-year options, each with a 10% rental increase. This property is encumbered by a triple net lease structure, calling for tenant responsibility for taxes, insurance, common area maintenance, roof, and structure. There are zero landlord responsibilities. Located at the signalized hard-corner intersection of East 18th Street and Prospect Avenue, the property benefits from a combined traffic count of 11,112 vehicles per day. Additionally, there are 207,926 residents living within a 5-mile radius. Moreover, this property is situated just 2 miles from downtown Kansas City, Missouri, and is positioned between major thoroughfares I-70 and U.S. Highway 71.