Flex Space with Overhead
For Sale
$950,000
1900 W US 69 Highway, Excelsior Springs, MO 64024
COMMERCIAL - Excelsior Springs, MO
Property Size2,150 SF
Lot Size1.43 Acres
Price / SF$441.86
Days on Market1127
Property Features for 1900 W US 69 Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
M-2
Parking features
Parking Lot, Paved or Surfaced, Garage
Interior features
Storage, Private Restroom, Public Restroom
Exterior features
Building Sign
Directions
69 Hwy into Excelsior Springs, right on Lodwick Lane, property on left.
Subdivision
107 - East of I-35 & South of Hwy 92
Standard status
Active
APN
12-212-00-05-004.00
Lot size
1.43 Acres
Taxes and HOA fees
Tax Description
Lot 1A MODOT Hwy barn.
Tax Annual Amount
2934
Legal Description
Lot 1A MODOT Hwy barn.
Utilities
Utilities
Water Available
Building Details
Year built
1955
Additional Structures
Storage
Listing Agency:
RE/MAX Area Real Estate · RE/MAX International
(816) 630-4000
Listed By:
SimmonsSales Team
(816) 630-4000
Added: Jul 12, 2023
Changed: Aug 4
Last Checked: Aug 11 at 10:06AM
MLS# 2444804
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.
Investment Insights
Based on property information with market context.
Flex space situated on 1.43 acres with multiple buildings, including a 2,700 SF shop building (36x75) that faces US 69. The shop area includes 3 insulated motorized overhead doors sized 11-foot-wide x 12-foot-high, plus storage area above 2 bays. The building is served by 2 200-amp breaker boxes and includes approximately 1,400 SF of office space with a kitchen area and a full bath with shower.
Behind the main building are additional storage options, including a storage building with sliding metal doors and another 4-bay storage building with 2 bays featuring garage doors. A separate 750 SF office building sits behind the main structure and is accessible from a back entrance, featuring a mini kitchen, full bath, and storage area.
The property offers easy access just off US 69 with 2 entrances and plenty of room to create additional space. Built in 1955, the property includes water available and is zoned M-2.
Behind the main building are additional storage options, including a storage building with sliding metal doors and another 4-bay storage building with 2 bays featuring garage doors. A separate 750 SF office building sits behind the main structure and is accessible from a back entrance, featuring a mini kitchen, full bath, and storage area.
The property offers easy access just off US 69 with 2 entrances and plenty of room to create additional space. Built in 1955, the property includes water available and is zoned M-2.
Key Highlights
- 1.43‑acre flex space with multiple buildings
- 2,700 SF (36x75) shop building faces US 69
- Shop has 3 insulated motorized overhead doors, 11‑foot‑wide x 12‑foot‑high
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,267
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.19%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$605,340
$605.3K
Cap Rate 7%
$432,386
$432.4K
Cap Rate 9%
$336,300
$336.3K
Market Conditions
NOI Build-Up for 2,150 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$46.4K $21.60/SF
− Vacancy
−$6.1K −$2.83/SF
EGI
$40.4K $18.77/SF
− OpEx
−$10.1K −$4.69/SF
NOI
$30.3K $14.08/SF
Area
Clay County, MO
Vacancy
13.10%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$605,340
Cap Rate 7%
$432,386
Cap Rate 9%
$336,300
Alternative Uses
Best Use
Office B
$432.4K
$378.3K – $504.5K
NOI $30,267 @ 7.0% cap · market cap 3.19%
Second Best
Flex RnD
$417.2K
$365.0K – $486.7K
NOI $29,202 @ 7.0% cap · market cap 3.07%
Theoretical Best
Office A
$658.3K
$576.0K – $768.0K
NOI $46,079 @ 7.0% cap · market cap 4.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 64024, MO
15,575
Population
6,165
Households
2.5
Avg Household Size
42
Median Age
15%
College-Educated
89%
High-School Grad
70.4 sq mi
ZIP Area
221
Density / Sq Mi
$80,781
Median Household Income
$41,964
Median Earnings
$916
Median Rent
$185,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Flex space on 1.43 acres zoned M-2, with multiple overhead doors, office space, and multiple storage buildings.
Where is this flex space located?
The property is located at 1900 W US 69 Highway Excelsior Springs, MO.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 1.43‑acre flex space with multiple buildings; 2,700 SF (36x75) shop building faces US 69; Shop has 3 insulated motorized overhead doors, 11‑foot‑wide x 12‑foot‑high
