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508 Independence Ave
Kennett, MO 63857

$2,600,000 USD

Storefront For Sale  •  44,000 SF

Property Details

  • Property Type Storefront
  • Total Building Size 44,000 SF
  • Lot Size 2.73 AC
  • Building Class C
  • Year Built 1999
  • Cap Rate 8.66 %
  • Tenancy Multiple
  • Zoning Commercial
40 Walk Score

Highlights

Offered at under $79 PSF, providing an excellent entry point for investors seeking yield in a stable Midwest retail market.
The north building includes a 3,500 SF vacancy ready for leasing, offering upside through new occupancy to boost NOI.
The tenant roster combines national retailers such as Domino's and H&R Block with childcare users and local service providers.
Currently 89% occupied with an NOI of $225,200 supported by long-term tenants and renewal options.
With a WALT of 3+ years, there is a clear opportunity to negotiate higher rent to meet the market or find new tenants to boost.
UMOS (United Migrant Opportunity Services) provides workforce and community assistance programs in Missouri, creating a mission-driven occupancy.
Cap Rate: 8.66 %

Major Tenants

Tenant SF Occupied Lease End Date
Discount Mattress and Appliance 4,060 SF 3/31/2029
Domino's 2,500 SF 4/30/2027
Factory Connection 3,800 SF 2/28/2031
H&R Block 1,400 SF 12/31/2028
House of Hair and Beauty 1,500 SF 12/31/2030
Nice Nails 1,650 SF 10/1/2028
Spirited Childcare 2,100 SF 5/31/2030
UMOS 12,536 SF 5/1/2031

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 60
Type: Surface
Included in Rent: Yes
Henry Mikula 312-614-4521 Sands Investment Group
Henry Mikula 312-614-4521 Sands Investment Group