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    The Largest CRE Database in the US with Over 1 Million Listings

    5900 N Broadway St Gladstone, MO 64118

    Sponsored
    For Sale
    $1,166,000

    MULTI_FAMILY - Gladstone, MO

    Lot size:
    8.77 Acres
    Days on Market:
    32
    Last Refresh:
    Jan 24 at 9:06 am

    Property Features for 5900 N Broadway St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Basement
    APN
    13-812-00-01-004.00
    Lot size
    8.77 Acres

    Utilities

    Utilities
    Propane
    Sewer type
    Public Sewer
    Heating system
    Propane (Heating)
    Cooling system
    Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1946
    Floors in Building
    2
    Number of units
    2
    Building materials
    Brick, Board & Batten Siding
    Roof type
    Metal

    We can help!

    Listing Contact
    Bob Henderson
    Bob Henderson

    Reece & Nichols Realtors inc (913) 307-4000

    Listing agent Bob Henderson (816) 468-8555

    Listing date Dec 24, 2025

    MLS# 2470904

    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

    Development Opportunity in Kansas City

    This 8.77-acre property, comprising four parcels, presents a development opportunity in Kansas City's Northland. The site is positioned for residential development or investment. It includes two existing homes being sold as is. Located off Broadway Street, the property provides access to Highway 169, I-29, and I-35, and is located minutes from downtown Kansas City and the airport. The acreage is suited for a single-family residential community or other development ventures. The two existing homes on-site offer options for interim rental income or office space. The Northland area is known for its neighborhoods, schools, and housing demand.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Gladstone
    County
    Clay
    State
    Missouri
    Longitude
    -94.586773
    Latitude
    39.201083

    Nearby Similar for Sale

    • $95,000
      0.62 Acres

      Gladstone Office Land Opportunity

      Prime 0.62-acre commercial lot.
      Brooktree Ln, Gladstone, MO 64118
      View Details
    • $1,300,000
      4,400 SF

      Gladstone Restaurant & Retail Opportunity

      Profitable Steak 'n Shake, 4,400 SF
      4929 Old Pike Rd, Gladstone, MO 64118
      View Details

    FAQs

    What type of property is this?
    Land - 8.77 acres ideal for residential development near downtown Kansas City.
    Where is this land located?
    The property is located at 5900 N Broadway St Gladstone, MO.
    What is the asking price?
    The asking price for this property is $1,166,000.
    What are key features of this property?
    This property features: - Rare 8.77-acre development opportunity in Kansas City's Northland, ideal for residential development or investment.; - Prime location with quick access to Highway 169, I-29, and I-35, minutes from downtown Kansas City and the airport.; - Includes two existing homes, providing immediate value and flexibility for interim rental income or office space.
    (816) 848-4487
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    5900 N Broadway St Gladstone, MO 64118
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    Gladstone, MO 64118
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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
    5900 N Broadway St Gladstone, MO 64118
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    We can help!
    Listing Contact
    Bob Henderson
    Bob Henderson
    Real Estate License ID: 2021041916
    (816) 848-4487
    Learn more
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