1020 NW Pryor Rd - Retail FOR SALE


Lee's Summit, MO 64081
$9,186,000 USD
310-691-1350
1020 NW Pryor Rd, Lee's Summit, MO for Sale
$9,186,000 USD
Retail - FOR SALE
1/6
null | 6.5% Cap Rate

1020 NW Pryor Rd
Lee's Summit, MO 64081


HIGHLIGHTS

  • 100% Occupied Strip Center: Exceptionally rare offering comprised entirely of food operators.
  • Exceptional Visibility Along I-470: Located at the first signalized intersection off I-470 (80,000 VPD).
  • Located within Streets at West Pryor: Premier $200M, 70-acre retail and residential mixed-use development with more than 500 Class-A apartment and tow
  • Adjacent to Summit Fair Shopping Center: 500,000 SF open-air lifestyle center with over 50 retail shops and restaurants.
  • Adjacent to Summit Woods Crossing: Target and Lowe’s anchored 545,000 SF open-air shopping complex.
  • Lee’s Summit Prime Submarket within Kansas City: Consistently ranks among Money’s Top 50 “Best Places to Live” and Forbes’ Top 50 “Best Places for Bus

OVERVIEW

Pegasus Investments Real Estate Advisory Inc., in conjunction with ParaSell, Inc., is pleased to exclusively present the opportunity to acquire a newly constructed, fully leased multi-tenant retail center located in Lee’s Summit, Missouri (the “Property”). Completed in early 2025, the Property is 100% occupied by a diverse lineup of national and regional restaurant tenants (30 Hop, Magic Noodle, Nick the Greek, and Chicken Salad Chick), making this an exceptionally rare offering comprised entirely of food operators. Each tenant has signed a lease with built-in annual rental escalations, offering investors an attractive inflation hedge. With a weighted average lease term (WALT) exceeding 11 years, the asset provides stable, long-term income and leases with attractive annual rent growth (+2.0%). The Property is also situated on a very large 3.71-acre parcel, which encompasses a 14,000-square-foot building and 253 surface-level parking spaces, providing an exceptional parking ratio of 18 stalls per 1,000 square feet. The Property is strategically located within the Streets of West Pryor, a $200 million, 70-acre mixed-use project that combines premier retail, dining, grocery, and residential offerings. This vibrant development includes over 500 Class-A apartment and townhome units, a large-format grocery anchor, and a meticulously curated lineup of top national retailers. The retail component is anchored by McKeever’s Market and features high-profile tenants such as Starbucks, Shake Shack, Chase Bank, PNC Bank, Cava, and Firebirds Wood Fired Grill. The residential development includes The Summit (237 Class-A apartments), The Signature (184 Class-A apartments), and Vanguard Villas (83 townhomes), all of which are nearly 100% occupied, creating a dense and diverse built-in customer base and exceptional daily traffic. The Property’s strategic location offers excellent visibility from the NW Pryor Road exit at I-470, the main interstate that connects Lee’s Summit with downtown Kansas City, and which sees over 80,000 vehicles per day, and benefits from convenient ingress and egress via the first signalized intersection at the off-ramp. The Property enjoys a prime location surrounded by some of the region’s most prominent retail destinations. Just across the street is Summit Woods Crossing, a fully occupied, 545,000-square-foot open-air regional center anchored by Target Supercenter and Lowe’s, along with top-tier junior anchors such as TJ Maxx, Best Buy, Petco, Michaels, and Total Wine. Drawing over 7.1 million visitors annually, Summit Woods is ranked the #1 most trafficked shopping center in Missouri (Placer.ai). Summit Fair Shopping Center is directly adjacent, a 500,000-square-foot open-air lifestyle center featuring more than 50 national retailers and restaurants.

FOR SALE DETAILS

PRICE

$9,186,000 USD

PRICE/SF

$656 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lot 13 - Streets of West Pryor

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Fast Food, Freestanding, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.84 AC

LAND SF

80,046 SF

ZONING

Planned Mixed Use

APN/PARCEL ID

51-800-04-46-00-0-00-000

ASK ABOUT THIS PROPERTY

Daylin AckermanPegasus InvestmentsMore Info
310-691-1350

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Daylin AckermanPegasus InvestmentsMore Info
310-691-1350

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.