Investment Overview

Register to Bid and Access Due Diligence Documents on RealINSIGHT Marketplace - https://rimarketplace.com/auction/2758/ Marcus & Millichap and RI Marketplace are pleased to present a vacant, free-standing retail building located at 11115 E US Highway 24, Independence, Missouri 64054 (the “Property”). Formerly occupied by CVS, the Property is being offered significantly below replacement cost, presenting an excellent opportunity for owner/users or investors to acquire a highly visible, strategically positioned asset in the Kansas City suburb featuring highway frontage at a compelling basis. FIRST BID MEETS RESERVE! Built in 2000, the Property consists of a ±11,390-SF single-story retail building with pharmacy situated on a ±1.6-AC parcel (±69,643 SF). The site features 55 surface parking spaces, including 4 ADA spaces, and provides excellent accessibility with multiple points of ingress/egress. Positioned on a hard-corner intersection with three frontages, the Property offers ±233 feet of frontage along E US Highway 24 (±18,471 VPD), ±184 feet along Sterling Avenue (±9,178 VPD), and ±320 feet along 6th Street, ensuring strong visibility and convenient access. Previously occupied under a NNN lease by CVS, the Property presents an attractive value-add opportunity for an owner/user or investor to reposition and lease at prevailing market rates (CoStar estimates $15-19/SF NNN retail). Zoned C2, General Commercial, the site provides flexibility for re-tenanting, alternative tenant types, or potential redevelopment. Located in Independence’s established retail corridor, the Property benefits from strong connectivity via U.S. Hwy 24, I-435, and I-70, which carry substantial commuter and retail traffic throughout eastern Jackson County and the greater Kansas City metro. The site is positioned just ±4-mi northeast of Downtown Independence and ±10-mi east of Downtown Kansas City, providing convenient access for both local residents and regional visitors. The surrounding area features a dense mix of retail, dining, and service uses, including Independence Center Mall (±1M SF regional mall anchored by Dillard’s, Macy’s, and AMC Theatres), as well as numerous open-air centers along the Hwy 24 and Noland Road corridors. In addition to retail amenities, the Property is surrounded by a balanced mix of residential neighborhoods, schools, healthcare facilities, hotels, and civic institutions. Within a ±2-mi radius are key demand drivers such as Centerpoint Medical Center (285+ beds), Blue River Community College (±4,000 students), and Independence Square, a historic downtown district that attracts visitors year-round. These anchors contribute to a stable daytime population, supporting consistent traffic for retailers and service providers. The surrounding ±3-mi trade area is home to more than 50k people with the expanded ±5-mi area increasing to over 139k residents with an average household income of ±$70,135, providing a wide consumer base for prospective tenants. The Property’s visibility, accessibility, and central location within Independence’s dominant commercial corridor position it as a compelling opportunity for both owner-users and value-add investors seeking exposure in the Kansas City metro.