Kansas City MSA | Strategic Market Location 1214 W Foxwood Dr
14,500 SF Retail Building Raymore, MO 64083 $4,168,188 ($287.46/SF) 8% Cap Rate
INVESTMENT HIGHLIGHTS
- In December of 2024, Walgreens announced that they would be closing their location in Belton making this the only Walgreens in a 5-mile radius.
- Raymore is located 23 miles from Downtown Kansas City and is one of the fastest-growing cities in Missouri.
- Located 1.5 miles from Belton Regional Medical Center, an 85-bed acute-care facility offering a full range of inpatient and outpatient services.
- There are over 2,680 multifamily units within 2 miles of the Subject Property, supporting an average household income of $104,000+.
- There is 3 million square feet of retail space and over 2.6 million square feet of industrial space within 3 miles of the Subject Property.
- This Walgreens is located on the opposite corner north of a CVS drugstore, making this a strategic location for both Walgreens and CVS.
EXECUTIVE SUMMARY
We are pleased to market for sale the Walgreens property located at 1214 West Foxwood Drive in Raymore, Missouri ("The Property"). Walgreens has been operating at this location for 18 years and has over 7 years of firm term remaining on an absolute net lease with no landlord responsibilities whatsoever. In December of 2024, Walgreens announced that they would be closing the next nearest Walgreens location to the subject property which makes this store the only Walgreens in a 5-mile radius serving both Raymore and Belton with a combined population of nearly 36,000 residents.
Raymore, located 23 miles from Downtown Kansas City, is one of the fastest-growing cities in Missouri, with its population increasing by over 4.7% over a 12-month period ending in July 2023. Within 2 miles of the Subject Property, there are over 2,680 multi-family units, with an average household income of $104,000+, providing a strong customer base.
The Raymore Commerce Center, located 3 miles south of the Subject Property, offers more than 2,000,000 square feet of class-A industrial space and is one of the major employers in Raymore. This past year, URBN opened a new $60 million, 600,000-square-foot fulfillment center adjacent to Raymore Commerce Center, adding over 750 new jobs. Additionally, the Property is situated within over 3 million square feet of retail space within 3 miles and benefits from the heavy retail trade area.
Listed in conjunction with Brian Brockman, Bang Realty, 513-898-1551, wg@bangrealty.com, MO DRE Lic. 2017032771.
Raymore, located 23 miles from Downtown Kansas City, is one of the fastest-growing cities in Missouri, with its population increasing by over 4.7% over a 12-month period ending in July 2023. Within 2 miles of the Subject Property, there are over 2,680 multi-family units, with an average household income of $104,000+, providing a strong customer base.
The Raymore Commerce Center, located 3 miles south of the Subject Property, offers more than 2,000,000 square feet of class-A industrial space and is one of the major employers in Raymore. This past year, URBN opened a new $60 million, 600,000-square-foot fulfillment center adjacent to Raymore Commerce Center, adding over 750 new jobs. Additionally, the Property is situated within over 3 million square feet of retail space within 3 miles and benefits from the heavy retail trade area.
Listed in conjunction with Brian Brockman, Bang Realty, 513-898-1551, wg@bangrealty.com, MO DRE Lic. 2017032771.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,500 SF
Building Class
C
Year Built
2007
Price
$4,168,188
Price Per SF
$287.46
Cap Rate
8%
NOI
$333,455
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Lot Size
1.44 AC
Parking
69 Spaces (4.76 Spaces per 1,000 SF Leased)
Frontage
289’ on Missouri 58
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 2206712 | Improvements Assessment | $1,045,210 |
| Land Assessment | $330,000 | Total Assessment | $1,375,210 |
