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    1515 Walnut St Kansas City, MO 64108

    Sponsored
    For Sale
    $4,500,000

    MULTI_FAMILY - Kansas City, MO

    Lot size:
    0.20 Acres
    Days on Market:
    28
    Last Refresh:
    Jan 26 at 5:06 am

    Property Features for 1515 Walnut St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Security features
    Security System
    Rooms
    Bathroom 3, Bathroom 1, Bathroom 2, Bathroom 4
    APN
    29-238-18-00-0-00-000
    Parking
    11
    Parking features
    Garage, Secured, Leased
    Patio and Porch features
    Patio, Deck
    Interior features
    Common Entry, Elevator, Individual Storage
    Exterior features
    Balcony
    Accessibility
    Accessible Elevator Installed
    Appliances
    Dishwasher, Disposal, Dryer, Microwave, Refrigerator, Electric Range, Stainless Steel Appliance(s), Washer
    Lot size
    0.20 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating)
    Cooling system
    Other (Cooling), Electric
    Water source
    Public

    Building Details

    Year built
    1946
    Floors in Building
    3
    Number of units
    9
    Building materials
    Concrete
    Roof type
    Synthetic
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Leslie Tomlinson

    Weichert Realtors Welch & Co (913) 647-5700

    Listing agent Leslie Tomlinson (913) 647-5700

    Listing date Dec 30, 2025

    MLS# 2537681

    Copyright © 2026 Heartland Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Crossroads Arts District Mixed-Use Building

    Located in the heart of the Crossroads Arts District, this mixed-use building, originally constructed in 1946, has been redesigned into a sustainable urban living space. The property features six income-producing apartments, each with a large balcony, garage parking space, and storage. There are also 2 street-level retail spaces. Rooftop solar panels supply 50% of the building's power needs. The owner's rooftop penthouse includes a 1400 sq. ft. private terrace with green roof gardens and a dog-friendly area. An additional 750 sq. ft. of accessory space is located in the garage. Eleven indoor, heated parking spaces are available, including 3 dedicated to the penthouse with an electric vehicle charging station, and one space per rental unit. The property is located one block from the streetcar and the future South Loop Park, near a movie theater, grocery store, T-Mobile Center, Kauffman Center for the Performing Arts, restaurants, and entertainment venues. The lot size is 0.2 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Elly May Moments Photographer 1515 Walnut - An Urban ... Apartment Building loveletter studio Wedding Service Sex + Ice Cream Clothing Store LoveStoned Clothing Store

    Suggested Use

    Realty agency Spa & Massage Hair Salon Nail Salon Dental Office Restaurant Daycare Center Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Kansas City
    County
    Platte
    State
    Missouri
    Longitude
    -94.582158
    Latitude
    39.095185

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    FAQs

    What type of property is this?
    Mixed-use property - Unique mixed-use building in the heart of the Crossroads Arts District.
    Where is this mixed-use property located?
    The property is located at 1515 Walnut St Kansas City, MO.
    What is the asking price?
    The asking price for this property is $4,500,000.
    What are key features of this property?
    This property features: - Prime location in the Crossroads Arts District with panoramic skyline views.; - Income-producing mixed-use building featuring six apartments with balconies, garage parking, and storage, plus two street-level retail spaces.; - Unique **2500 sq. ft. rooftop penthouse with a 1400 sq. ft. private terrace** featuring green roof gardens and a dog-friendly area.
    (816) 223-5560
    Request Owner's contact information
    1515 Walnut St Kansas City, MO 64108
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    Kansas City, MO 64108
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1515 Walnut St Kansas City, MO 64108
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    We can help!
    Listing Contact
    Leslie Tomlinson
    Real Estate License ID: SP00217303
    (816) 223-5560
    Learn more
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