Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    508 E 31St St Kansas City, MO 64108

    Sponsored
    For Sale
    $395,000

    COMMERCIAL - Kansas City, MO

    Lot size:
    0.22 Acres
    Days on Market:
    1
    Last Refresh:
    Jan 30 at 3:06 am

    Property Features for 508 E 31St St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    M1-5
    APN
    29-810-39-07-00-0-00-000
    Lot size
    0.22 Acres

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Andrea Wardell

    Wardell & Holmes Real Estate, LLC (816) 416-7111

    Listing agent Andrea Wardell (816) 416-7111

    Listing date Jan 30, 2026

    MLS# 2596180 Listing URL

    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

    Commercial Land in Martini Corner

    This commercial land, situated in Kansas City, Missouri, offers a prime location for development. Located in Martini Corner, the property benefits from great visibility and mixed-use potential. It is located within a tax abated district and an opportunity zone. The property has a lot size of 0.22 acres. Additional adjacent and neighboring properties may also be available for sale. Buildings in the vicinity are marketed by another brokerage, potentially offering an opportunity to acquire a desirable block of properties. Buyers and their agents are advised to verify all information pertaining to the site.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Realty agency Restaurant Spa & Massage Law Firm Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Kansas City
    County
    Platte
    State
    Missouri
    Longitude
    -94.578184
    Latitude
    39.071014

    Nearby Similar for Sale

    • $2,200,000
      Pending

      Versatile Industrial Building in Kansas

      49,118 SF industrial building with excellent highway access.
      1641 Crystal Ave, Kansas City, MO 64126
      View Details
    • New
      $475,000
      0.10 Acres

      New Condominiums Near Plaza, UMKC

      Modern condominiums near Plaza, UMKC, and Westport with tax abatement.
      4527 Forest Ave, Kansas City, MO 64110
      View Details
    • New
      $540,000
      0.15 Acres

      Renovated Duplex in Hyde Park

      Fully renovated duplex near KC Streetcar, ideal for investors.
      4128 Locust St, Kansas City, MO 64110
      View Details
    • New
      $475,000
      0.10 Acres

      New Condominiums Near Plaza

      Newly constructed condominiums near Plaza, UMKC, and Westport area.
      4521 Forest Ave, Kansas City, MO 64110
      View Details
    • $590,000
      0.16 Acres

      Kansas City Triplex Investment Opportunity

      Income-producing triplex near Westport, Plaza, and downtown Kansas City.
      3951 Warwick St, Kansas City, MO 64111
      View Details
    • New
      $1,800,000
      0.75 Acres

      Renovated Kansas City Retail Opportunity

      Turn-key sports bar opportunity with 3 AM license and parking.
      4545 N Brighton Ave, Kansas City, MO 64117
      View Details
    • $499,999
      0.22 Acres

      Commercial Property Near Future Development

      Commercial property near planned industrial warehouse site. Sold as-is.
      3812 Bennington Ave, Kansas City, MO 64129
      View Details
    • New
      $285,000
      0.22 Acres

      Garden Place Duplex Investment Property

      Fully rented duplex in Garden Place, Kansas City, Missouri.
      800 E 75Th Ter, Kansas City, MO 64131
      View Details
    • $1,300,000
      0.96 Acres

      Commercial Property with Billboard & Lot

      High-visibility commercial property with secure lot and functional office.
      6850 E Front St, Kansas City, MO 64120
      View Details
    • $335,000
      0.09 Acres

      Updated Converted Residence in Kansas

      Updated residence near downtown Kansas City, ideal for investors.
      2122 Park Ave, Kansas City, MO 64127
      View Details
    • $114,900
      Pending

      Kansas City Duplex For Sale

      Full duplex in Marlborough Heights with easy highway access.
      1490 E 77Th St, Kansas City, MO 64131
      View Details
    • $325,000
      0.14 Acres

      Turn-Key Kansas City Triplex

      Super-updated triplex featuring high-quality craftsmanship and modern amenities.
      2835 E 8Th St, Kansas City, MO 64124
      View Details

    FAQs

    What type of property is this?
    Commercial land - Development opportunity in a tax abated district with mixed-use potential.
    Where is this commercial land located?
    The property is located at 508 E 31St St Kansas City, MO.
    What is the asking price?
    The asking price for this property is $395,000.
    What are key features of this property?
    This property features: - Prime location in Martini Corner with great visibility.; - Development potential with mixed-use zoning.; - Located in a tax abated district.
    (816) 416-7111
    Request Owner's contact information
    508 E 31St St Kansas City, MO 64108
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    508 E 31St St
    Kansas City, MO 64108
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    508 E 31St St Kansas City, MO 64108
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Andrea Wardell
    (816) 416-7111
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.