Independence Towers

For Sale

728 Jennings Road, Independence, MO 64065

This Independence property for sale is located at 728 Jennings Road. The current listed sale price for Independence Towers is Auction Sale. Independence Towers is situated on a lot that is 1.7 acre in size.

Contacts

broker

Steven Silverman

Friedman Real Estate

(248) 324-2000

Property Details

  • Property Type Multi-Family
  • Property Size 72,766 SF
  • Units 123
  • Lot Size 1.7 Acre
  • Year Built 1963
  • Year Renovated 2023
  • Date Updated Feb 12, 2024
728 Jennings Road±123-unit multifamily property located in Independence, MO (Kansas City suburb) 11-story mid-rise tower presents a desirable assortment of studio, one, and two-bedroom apartment homes Significant value-add opportunity! Current occupancy stands at ±63%, whereas the Independence/East KC submarket boasts an impressive 95% occupancy rate Stabilized Proforma NOI: ±$940k/year New ownership can quickly renovate existing & down units, and bring online top-floor units with prime views of the Kansas City skyline Numerous underutilized common areas can be transformed into a modern fitness room, resident lounge, and other revenue-generating spaces The private and secure underground parking garage provides revenue opportunities through parking fees ±100,000 people reside within 5-miles of the property with average household incomes > $65,000/year

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Highlights

  • ±123-unit multifamily property located in Independence, MO (Kansas City suburb)
  • 11-story mid-rise tower presents a desirable assortment of studio, one, and two-bedroom apartment homes
  • Significant value-add opportunity!
  • Current occupancy stands at ±63%, whereas the Independence/East KC submarket boasts an impressive 95% occupancy rate
  • Stabilized Proforma NOI: ±$940k/year
  • New ownership can quickly renovate existing & down units, and bring online top-floor units with prime views of the Kansas City skyline
  • Numerous underutilized common areas can be transformed into a modern fitness room, resident lounge, and other revenue-generating spaces
  • The private and secure underground parking garage provides revenue opportunities through parking fees
  • ±100,000 people reside within 5-miles of the property with average household incomes > $65,000/year

Attachments

Getting around

  • 63/100

    Walk Score ®

  • 15/100

    Transit Score ®

  • 44/100

    Bike Score ®

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Location

  • City Independence, MO
  • Neighborhood Randall
  • Zip Code 64065
  • Market Kansas City

Points of Interest

  • Independence

    3.67 miles

  • Worlds of Fun Railroad Station

    7.16 miles

  • 7-Eleven

    0.43 miles

  • QuikTrip

    0.63 miles

  • QuikTrip

    1.52 miles

  • Sinclair

    2.83 miles

  • Hy-Vee Gas

    2.99 miles

  • Casey's General Store

    3.00 miles

  • QuikTrip

    3.21 miles

  • Phillips 66

    4.71 miles

  • Conoco

    4.73 miles

  • Phillips 66

    4.81 miles

  • G

    3.23 miles

  • F

    3.25 miles

  • D

    3.25 miles

  • C

    3.27 miles

  • E

    3.27 miles

  • B

    3.29 miles

  • A

    3.31 miles

  • M

    3.53 miles

  • J

    3.54 miles

  • N

    3.56 miles

  • Ophelia's Restaurant & Inn

    2.80 miles

  • Serendipity Bed & Breakfast

    3.13 miles

  • Higher Ground Hotel

    3.17 miles

  • Residence Inn by Marriott Kansas City Independence

    4.70 miles

  • Best Western Independence Kansas City

    4.75 miles

  • Staybridge Suites

    5.15 miles

  • HomeTowne Studios by Red Roof

    5.36 miles

  • Super 8 by Wyndham Independence Kansas City

    5.39 miles

  • Truman Inn

    5.40 miles

  • Stoney Creek Hotel & Conference Center

    5.48 miles

  • Price Chopper

    2.91 miles

  • ALDI

    2.94 miles

  • Hy-Vee

    3.05 miles

  • Price Chopper

    4.62 miles

  • Walmart Neighborhood Market

    4.65 miles

  • Target

    4.66 miles

  • Kohl's

    4.84 miles

  • Ross

    4.84 miles

  • Marshalls

    4.84 miles

  • Walmart Supercenter

    5.01 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Steven Silverman

Friedman Real Estate

(248) 324-2000