Second-Floor Office Space for
For Sale
$5,950,000
1 East Armour Blvd, Kansas City, MO 64111
Entire second floor is available, with signage frontage to a new streetcar stop.
Property Size38,200 SF
Price / SF$396.67
Days on Market98
Property Features for 1 East Armour Blvd
General Information
Standard status
Active
Size
38,200 SF
Class
B
Property subtype
Office
Building Details
Building Size
38,200 SF
Listing Agency:
Clemons Real Estate
Listed By:
Cole Stewart · License #KS #00251413
(913) 568-2003
Source:
Clemonsrealestate
Added: Jun 1
Changed: Sep 6
Last Checked: Sep 6 at 7:12AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Clemons Real Estate
Investment Insights
Based on property information with market context.
This for-sale opportunity offers an entire second-floor office space designed for an owner-occupant looking for prominent street-level visibility. The offering includes signage frontage facing a new streetcar stop, supporting branding and customer awareness.
The property is located at 1 East Armour Blvd in Kansas City, Missouri. Public remarks note the signage fronts the new Streetcar Stop on Main St, and the second-floor space is slated for availability in spring 2025.
The second floor can accommodate up to 15,000 SF of office space, making it well-suited for users needing a full-floor footprint.
The property is located at 1 East Armour Blvd in Kansas City, Missouri. Public remarks note the signage fronts the new Streetcar Stop on Main St, and the second-floor space is slated for availability in spring 2025.
The second floor can accommodate up to 15,000 SF of office space, making it well-suited for users needing a full-floor footprint.
Key Highlights
- Entire 2nd floor available
- Signage frontage available on Main St fronting a new streetcar stop
- Up to 15,000 SF of office space available
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
$211,923
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
3.56%
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%
$4,238,460
$4.2M
Cap Rate 7%
$3,027,471
$3.0M
Cap Rate 9%
$2,354,700
$2.4M
Market Conditions
NOI Build-Up for 15,000 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
$338.4K $22.56/SF
− Vacancy
−$55.8K −$3.72/SF
EGI
$282.6K $18.84/SF
− OpEx
−$70.6K −$4.71/SF
NOI
$211.9K $14.13/SF
Area
Kansas City, MO
Vacancy
16.50%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
25.00%
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%
$4,238,460
Cap Rate 7%
$3,027,471
Cap Rate 9%
$2,354,700
Alternative Uses
Best Use
Office B
$3.03M
$2.65M – $3.53M
NOI $211,923 @ 7.0% cap · market cap 3.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.57M
$3.13M – $4.17M
NOI $250,099 @ 7.0% cap · market cap 4.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,253
Businesses Nearby
Explore this area
Business Placement
Demographics for 64111, MO
17,112
Population
12,430
Households
1.4
Avg Household Size
33
Median Age
64%
College-Educated
96%
High-School Grad
2.7 sq mi
ZIP Area
6,338
Density / Sq Mi
$61,802
Median Household Income
$49,942
Median Earnings
$1,184
Median Rent
$269,500
Median Home Value
Market
Vacancy Rate% for Office in Kansas City, MO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Entire second floor is available, with signage frontage to a new streetcar stop.
Where is this office units located?
The property is located at 1 East Armour Blvd Kansas City, MO.
What is the asking price?
The asking price for this property is $5,950,000.
What are key features of this property?
This property features: Entire 2nd floor available; Signage frontage available on Main St fronting a new streetcar stop; Up to 15,000 SF of office space available
