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Crackerneck Plaza 3 Retail Properties in Independence, MO
Investment Highlights
- 3 year WALT with an average tenancy of 13+ years
- 127,000 population in a 5 mile radius
- Mark-to-market opportunity to enhance NOI through strategic renewals, backfilling vacancies, and converting all tenants to NNN structures
- Spin-off potential with 3 separate parcels
- Excellent connectivity via I-70, I-470, and U.S. 40
- Seller is willing to provide additional escrow funds for MedSpa free rent, vacancies, and NNNs
Executive Summary
Newmark Zimmer is pleased to present the opportunity to acquire Crackerneck Plaza (the “Property”), a 50,667-square-foot multi-tenant center located at 19301-19341 E US Highway 40 in Independence, Missouri. The Property features a 40,025-square-foot main building complemented by two other buildings totaling 4,611 square feet and 6,441 square feet, respectively. Situated along a highly visible commercial corridor in eastern Jackson County, the Property benefits from strong frontage, convenient access to Interstate 70, and a strategic location serving both the Independence and Lee’s Summit trade areas. The Property serves more than 127,000 residents within a five-mile radius and generates approximately 600,000 annual visits, providing a strong customer base and significant visibility for existing and future tenants.
Constructed in 2004/2005, Crackerneck Plaza Shopping Center consists of three buildings and is currently 88% leased to 16 tenants with an average tenancy exceeding 13 years and a WALT of 3 years. Tenants include First Watch, Alissa’s Flowers, and From the Earth, a top 10% dispensary nationwide by visitor counts. The Property offers stable cash flow with additional income through seller-provided master lease and NNN reimbursement escrow funds. Investors are presented with a compelling opportunity to enhance NOI through lease renewals, backfilling vacancies, converting remaining gross leases to NNN structures. All three buildings are on separate parcels, allowing for
potential parcel spin-offs, including the ability to parcel off the single tenant NNN dispensary building.
Constructed in 2004/2005, Crackerneck Plaza Shopping Center consists of three buildings and is currently 88% leased to 16 tenants with an average tenancy exceeding 13 years and a WALT of 3 years. Tenants include First Watch, Alissa’s Flowers, and From the Earth, a top 10% dispensary nationwide by visitor counts. The Property offers stable cash flow with additional income through seller-provided master lease and NNN reimbursement escrow funds. Investors are presented with a compelling opportunity to enhance NOI through lease renewals, backfilling vacancies, converting remaining gross leases to NNN structures. All three buildings are on separate parcels, allowing for
potential parcel spin-offs, including the ability to parcel off the single tenant NNN dispensary building.
Property Facts
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Active | Total Building Size | 50,876 SF |
| Number of Properties | 3 | Total Land Area | 5.81 AC |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 50,876 SF |
| Total Land Area | 5.81 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Crackerneck Plaza
19321 E Us-40 Hwy, Independence, MO 64055 |
Retail | 39,762 SF | 2004 | - |
|
Crackerneck Plaza
19341 E Us-40 Hwy, Independence, MO 64055 |
Retail | 6,650 SF | 2004 | - |
|
Crackerneck Plaza
19301 E Us-40 Hwy, Independence, MO 64055 |
Retail | 4,464 SF | 2005 | - |
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Contacts
-
Michael VanBuskirk SIOR, CCIM,CRE -
Christopher Robertson, CCIM -
Raegen Kersey -
Newmark Zimmer
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Crackerneck Plaza
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