Valvoline Instant Oil Change & Papa Murphy's

1531 A E 23rd St, Independence, MO

Property Information

Price Summary

$ 2,293,540

Cap Rate

6.5 %

NOI

$ 149,080

Total Lot Size

0.77 Acres

Building Size

3,360 SF

Director

T: (817) 658-3100

Stable Investment: Valvoline LLC (NYSE-listed) Guarantees Income With a Strong Corporate Credit on an Absolute NNN Lease, Featuring 10% Rent Increases Every 5 Years
Experienced Operator: Papa Murphy’s Lease Backed by Papa Partner’s LLC (20+ Units) – Tenant Recently Exercised an Option Early, Showing Strong Site Commitment
Stable Income With 8.8-Year WALT: Tenants Have Shown Strong Commitment Through Early Renewals, Long Lease Terms, and an Extensive Operational History at This Location Spanning 15+ Years
High-Traffic Corridor: Outstanding Visibility Along E 23rd St S With 13,000+ Vehicles per day
Established Retail Trade Area: Surrounded by Major National Brands Like Hy-Vee, Aldi, Tractor Supply Co., Price Chopper, and Multiple Dollar Store Concepts
Dense Residential Base: Over 151,000 Residents Within 5 Miles
Proximity to Kansas City’s Urban Core: Just 11 Miles From Downtown Kansas City, Missouri’s Largest City by Population and Economic Output
Limited Small-Format Retail: Less Than 2.5% Availability for Properties Under 5,000 SF, Ensuring Leasing Stability and Pricing Power