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    Excelsior Springs Commercial Storefront Property Title is generated by Realmo AI

    451 S Thompson Avenue, Excelsior Springs, MO 64024

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    For Sale
    $550,000

    COMMERCIAL - Excelsior Springs, MO

    Lot size:
    0.16 Acres
    Added:
    Mar 14, 2025
    Days on Market:
    425
    Last Refresh:
    May 12 at 6:06 pm

    Property Features for 451 S Thompson Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    C-2
    Parking features
    On Street, Parking Lot
    Interior features
    Public Restroom
    Exterior features
    Display Window
    Standard status
    Active
    APN
    12-311-00-46-011.01
    Lot size
    0.16 Acres

    Taxes and HOA fees

    Tax Description
    CITY BLOCKS EXCELSIOR SPRINGS PT CB 109 BEG 124.8'N OF SL ST LOUIS AVE EXTENDED E & WL S THOMPSON AVE, N48.98, E116, SE42.39, SLY26.01, W141.81 TO POB (To Be Verified By Closing Title)
    Tax Annual Amount
    3636

    Utilities

    Utilities
    Water Available

    Building Details

    Year built
    1930
    Floors in Building
    1

    We can help!

    Listing Contact
    SimmonsSales Team

    Listing agent SimmonsSales Team

    Listing office RE/MAX Area Real Estate 1350 N Jesse James Rd, Excelsior Springs, MO

    Listing date Mar 14, 2025

    MLS# 2534224

    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.

    HighLights

    • Owner financing available for qualified buyers with a solid business plan.
    • Priced $20k below the 2025 appraisal value.
    • Two adjoining storefronts combined into one larger space with separate entrances.
    • Exceptional visibility from the highway in Excelsior Springs' Historic District.
    • Flexible layout with existing interior dividers for separation or open flow.
    • Close proximity to the Elms Hotel & Spa (Destination by Hyatt).

    Overview

    This commercial property features two adjoining storefronts that have been combined into a larger space, while retaining individual street-facing entrances. The layout is suitable for an owner wanting to operate complementary businesses, such as a coffee shop and bakery, a boutique and salon, or a restaurant with event space. Interior dividers allow for separation or open flow between the two areas, providing options for use and expansion. The real estate is in very good condition. The property is located in the heart of Excelsior Springs' Historic District, with visibility from the highway. It is a short distance from the Elms Hotel & Spa, operated under Hyatt's Destination by Hyatt collection. The lot size is 0.1584 acres. The zoning is C-2. The property is located at 451 S Thompson Avenue, Excelsior Springs, MO 64024, in Clay County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center

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

    Similar Places Nearby

    • Excelsior Floral & Gift — 413 S Thompson Ave, Excelsior Springs, MO 64024

    Location Insight

    • Map
    • Local Demand
    City
    Excelsior Springs
    County
    Clay
    State
    Missouri
    Longitude
    -94.22566
    Latitude
    39.33939

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    FAQs

    What type of property is this?
    Storefront property - Combined storefronts in historic district with owner financing available.
    Where is this storefront property located?
    The property is located at 451 S Thompson Avenue Excelsior Springs, MO.
    What is the asking price?
    The asking price for this property is $550,000.
    What are key features of this property?
    This property features: Owner financing available for qualified buyers with a solid business plan.; Priced $20k below the 2025 appraisal value.; Two adjoining storefronts combined into one larger space with separate entrances.
    (816) 630-4000
    We can help!
    Listing Contact
    SimmonsSales Team
    Learn More
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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.

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