4420 Noland RdIndependence, MO 64055

This exceptional investment opportunity presents the Noland South Shopping Center, a 156,387 square foot retail center located in Independence, Missouri. The property boasts a diverse tenant mix including Harbor Freight, Arvest Bank, OctaPharma Plasma, Baskin Robbins, and Honey Baked Ham, among 20 total tenants. Currently operating at 82.82% occupancy, the center generates a substantial Net Operating Income (NOI) of $539,667.92, yielding an attractive 8.00% cap rate. The asking price is $6,716,746, translating to $42.95 per square foot. Built in 1980 and renovated in 2023, the property sits on a sizable 21.83-acre lot, offering a land value of $7.06 per square foot. The center benefits from approximately $147,000 in annual Community Improvement District (CID) funding allocated for capital expenditures, totaling up to $2,581,835 over 27 years. This consistent funding stream ensures ongoing maintenance and improvements, enhancing the property's long-term value. The property's location and size present significant value-add potential, particularly considering the mixed-use potential with ample developable land at the southwestern corner of the shopping center and on the south side of 45th Street. This presents a versatile and attractive investment opportunity for discerning buyers. The property consists of five parcels, all located in Jackson County, Missouri, zip code 64055, along South Noland Road.