Flex Space with Garage
For Sale
$599,000
949 26th Street, Kansas City, KS 66106
Commercial Sale, Kansas City, KS
Property Size5,760 SF
Lot Size0.29 Acres
Price / SF$103.99
Days on Market57
Property Features for 949 26th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
m-3
Parking features
Parking Lot
Interior features
Private Restroom, Public Restroom
Directions
Property sits on the North East Corner of 26th and cheyenne
Subdivision
407 - N=Ks Rvr;S=Jo Co Ln;E=18th St;W=I-635
Standard status
Active
APN
152006
Lot size
0.29 Acres
Taxes and HOA fees
Tax Description
MULVANES ADD & 1521 & 1522 & 1523, S20, T11, R25, ACRES 0.290000, B12 L1 TO L4
Tax Annual Amount
7700
Legal Description
MULVANES ADD & 1521 & 1522 & 1523, S20, T11, R25, ACRES 0.290000, B12 L1 TO L4
Amenities
auto paint booth
Building Details
Floors in Building
1
Listing Agency:
Keller Williams Realty Partners Inc.
(913) 906-5400
Listed By:
Marcela Egea · License #SP00234003
(913) 998-4098
Added: Jul 4
Changed: Aug 19
Last Checked: Aug 29 at 7:06AM
MLS# 2635043
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.
This M-3 commercial property includes a building configured with three large garage door bays, an auto paint booth, office areas, storage space, and private and public restrooms. A parking lot serves the corner-lot site, and the existing improvements support flexible commercial occupancy.
The property has been used as an auto repair shop and may also accommodate storage, warehouse, or office functions, subject to applicable requirements. The 0.29-acre parcel offers a combination of service-oriented building features and practical site improvements within a commercial setting.
The property has been used as an auto repair shop and may also accommodate storage, warehouse, or office functions, subject to applicable requirements. The 0.29-acre parcel offers a combination of service-oriented building features and practical site improvements within a commercial setting.
Key Highlights
- Three large garage door bays
- Auto paint booth included
- Office and storage areas within the building
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
$41,783
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
6.98%
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%
$835,660
$835.7K
Cap Rate 7%
$596,900
$596.9K
Cap Rate 9%
$464,256
$464.3K
Market Conditions
NOI Build-Up for 5,760 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
$69.1K $12.00/SF
− Vacancy
−$4.8K −$0.84/SF
EGI
$64.3K $11.16/SF
− OpEx
−$22.5K −$3.91/SF
NOI
$41.8K $7.25/SF
Area
Kansas City, KS
Vacancy
7.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
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%
$835,660
Cap Rate 7%
$596,900
Cap Rate 9%
$464,256
Alternative Uses
Best Use
Retail
$795.4K
$696.0K – $928.0K
NOI $55,680 @ 7.0% cap · market cap 9.30%
Second Best
Flex RnD
$596.9K
$522.3K – $696.4K
NOI $41,783 @ 7.0% cap · market cap 6.98%
Theoretical Best
Office A
$954.3K
$835.0K – $1.11M
NOI $66,799 @ 7.0% cap · market cap 11.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Drive-in doors
3
Service bays
Location Intelligence
Trade Area within ½ mile
258
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 66106, KS
24,085
Population
9,226
Households
2.6
Avg Household Size
35
Median Age
16%
College-Educated
84%
High-School Grad
18.9 sq mi
ZIP Area
1,274
Density / Sq Mi
$56,294
Median Household Income
$39,734
Median Earnings
$944
Median Rent
$154,500
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Corner-lot commercial building with an auto paint booth, offices, storage, and on-site parking.
Where is this flex space located?
The property is located at 949 26th Street Kansas City, KS.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Three large garage door bays; Auto paint booth included; Office and storage areas within the building
