Highlights
• 100% occupied food-operator strip center. • Located in Streets at West Pryor, $200M mixed-use development with 500+ apartments. • Next to Summit Woods Crossing (Target & Lowe’s, 545K SF). • High visibility on I-470, 80K VPD. • Near Summit Fair Shopping Center, 500K SF, 50+ shops/restaurants. • Lee’s Summit submarket, ranked among Money’s & Forbes’ top places to live/work.
Description
Pegasus Investments Real Estate Advisory Inc., in partnership with ParaSell, Inc., is pleased to exclusively present a newly constructed, fully leased multi-tenant retail center in Lee’s Summit, Missouri. Completed in early 2025, the property is 100% occupied by a curated mix of national and regional restaurant operators, including 30 Hop, Magic Noodle, Nick the Greek, and Chicken Salad Chick—a rare offering comprised entirely of food tenants. Each lease includes built-in annual escalations, providing investors with an effective hedge against inflation, while the weighted average lease term (WALT) exceeds 11 years with +2% annual rent growth, ensuring stable, long-term income. The center sits on a 3.71-acre parcel, featuring a 14,000-square-foot building and 253 surface-level parking spaces, offering an exceptional ratio of 18 stalls per 1,000 square feet. Strategically positioned within the Streets of West Pryor, a $200 million, 70-acre mixed-use development, the property benefits from a vibrant environment of retail, dining, grocery, and residential offerings. The development includes over 500 Class-A apartment and townhome units, a large-format grocery anchor, and premium national retailers such as Starbucks, Shake Shack, Chase Bank, PNC Bank, Cava, and Firebirds Wood Fired Grill. The residential component—comprising The Summit (237 units), The Signature (184 units), and Vanguard Villas (83 townhomes)—is nearly fully occupied, generating a built-in customer base and significant daily traffic. Excellent visibility is provided from the NW Pryor Road exit at I-470, which sees over 80,000 vehicles daily, along with convenient ingress and egress via the first signalized intersection off the ramp. The property is surrounded by some of the region’s most prominent retail destinations, including Summit Woods Crossing, a 545,000-square-foot open-air center anchored by Target and Lowe’s with top junior anchors such as TJ Maxx, Best Buy, Petco, Michaels, and Total Wine, attracting over 7.1 million visitors annually and ranked as Missouri’s most trafficked shopping center (Placer.ai). Adjacent to the property is Summit Fair Shopping Center, a 500,000-square-foot open-air lifestyle center featuring more than 50 national retailers and restaurants, further enhancing the location’s foot traffic and tenant appeal.
Property Documents
Lot 13 Streets of West Pryor Flyer.pdf
252.29 KB
Listing Details
- Cap Rate
6.5%
- Tenancy
Multi
- Space Type
Retail
- Sub Category
Restaurant
- Sale Type
Investment Sale
- Date Listed
10/8/2025
- Ownership Info
Fee Simple
- Broker/Agent Co-op
Yes
- Investment Type
Net Lease
- Net Operating Income
$597,090
- Parking Info
253 Spaces
- Building FAR
0.17
Property Specifics
- Property Name
Lot 13 - Streets of West Pryor | 1020 NW Pryor Rd
- Property Class
B
- No of Buildings
1
- No of Stories
1
- No of Units
4
- Year Built
2024
- Building Size
14,000 SF
- Lot Size
1.84 Ac
- APN
51-800-04-46-00-0-00-000
- Zoning
Planned Mixed Use
- Occupancy
100%