Add Listing
    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

    625 W 23rd Street Independence, MO 64055

    View on Map
    For Sale
    $190,000

    SINGLE_FAMILY - Independence, MO

    Type:Retail
    Lot size:
    0.22 Acres
    Added:
    Feb 19, 2026
    Days on Market:
    41
    Last Refresh:
    Apr 1 at 11:06 am

    Property Features for 625 W 23rd Street

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Zoning
    C003
    Parking
    7
    Parking features
    Parking Lot
    Interior features
    Private Restroom
    Standard status
    Active
    APN
    26-440-01-05-00-0-00-000
    Lot size
    0.22 Acres

    Taxes and HOA fees

    TaxDescription
    BENNETTS SUB LOTS 1 & 2 (EX PT OF ROW)
    TaxAnnualAmount
    1972

    Utilities

    Utilities
    Water Available

    Building Details

    Year built
    1900
    Floors in Building
    1

    We can help!

    Listing Contact
    Rossana Colman

    Listing agent Rossana Colman License #2018013450

    Listing office Compass Realty Group 900 W 48th Place Ste 120, Kansas City, MO

    Listing date Feb 19, 2026

    MLS# 2603085

    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.

    Overview

    Renovated Commercial Space, High-Traffic Location

    This fully renovated commercial space is move-in ready and situated in a high-traffic location, offering excellent visibility and easy access. The property has been updated with new flooring, fresh interior paint, new sheetrock, updated electrical systems, a new tankless water heater, a new roof, new windows, and a new front door. The property is currently vacant and suitable for various business opportunities, including a beauty salon, barber shop, flower shop, boutique retail, or office space. The property includes a private parking lot with space for 7 or more cars. The lot size is 0.2155 acres. Located in Independence, Missouri, the property is in Jackson County and has a postal code of 64055. The zoning is C003.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Independence
    County
    Jackson
    State
    Missouri
    Longitude
    -94.424415
    Latitude
    39.079209

    Nearby Similar for Sale

    • $545,000

      Fully Occupied Independence Corner Property

      High-visibility commercial property with diverse tenant mix in Independence, MO.
      11411-11417 E 23rd Street, Independence, MO 64052
      View Details
    • $1,425,000

      Turnkey Airbnb Investment Opportunity

      Hawthorne Mansion: a classical estate perfect for large groups.
      1 Hawthorne Place, Independence, MO 64052
      View Details
    • $850,000

      Turn-Key Daycare Opportunity

      Licensed childcare space with multiple classrooms and kitchen facilities.
      2901 M 291 Frontage Road, Independence, MO 64057
      View Details
    • $250,000

      Remodeled Commercial Space on High-Traffic Street

      Affordable, remodeled commercial space with high visibility on 23rd Street.
      307 E 23rd Street, Independence, MO 64055
      View Details
    • $3,100,000

      Independence Office Building For Sale

      Office building with freeway visibility and strong retail anchors.
      20101 E JACKSON Drive, Independence, MO 64057
      View Details
    • $449,900

      Luxury Fourplex: Turnkey Investment

      Completely rebuilt fourplex with modern amenities and strong income potential.
      719 E COLLEGE Street, Independence, MO 64055
      View Details
    • $275,000

      Remodeled Commercial Property on Truman

      High-traffic location, remodeled interior, and expansion potential.
      11303 E Truman Road, Independence, MO 64050
      View Details
    • $475,000

      Commercial Building with Nine Units

      Commercial building with nine units on a busy corner.
      3501 S Sterling Avenue, Independence, MO 64052
      View Details
    • $182,000

      Remodeled Duplex in Independence, MO

      Turnkey duplex with high income potential after recent comprehensive remodel.
      2104 S Norwood Avenue, Independence, MO 64052
      View Details
    • $425,000

      Independence Duplex: Leased Investment Opportunity

      Well-maintained duplex in a desirable neighborhood, fully leased and ready!
      2829 Trenchard Drive, Independence, MO 64057
      View Details
    • $217,000

      Turnkey Independence Duplex Investment Opportunity

      Turnkey duplex in Independence, Missouri with recent updates and strong occupancy.
      524 E Walnut Street, Independence, MO 64050
      View Details
    • $3,380,000

      Turnkey Restaurant and Real Estate

      Fully operational restaurant with real estate, high visibility, easy access.
      19800 E Valley View Parkway, Independence, MO 64057
      View Details

    FAQs

    What type of property is this?
    Retail space - Move-in ready commercial space suitable for various business opportunities.
    Where is this retail space located?
    The property is located at 625 W 23rd Street Independence, MO.
    What is the asking price?
    The asking price for this property is $190,000.
    What are key features of this property?
    This property features: Fully renovated and move‑in ready commercial space.; High‑traffic location with excellent visibility and easy access.; New roof, windows, electrical, and tankless water heater.
    (816) 225-8553
    We can help!
    Listing Contact
    Rossana Colman
    Real Estate License ID: 2018013450
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!