Historic Mixed-Use
For Sale
Contact for pricing
1020 Pennsylvania Avenue, Kansas City, MO 64105
Renovated historic property combines commercial space, apartments, and a short-term rental component.
Property Size5,700 SF
Price / SF$297.37
Days on Market128
Property Features for 1020 Pennsylvania Avenue
General Information
Standard status
Active
Size
5,700 SF
Total Parking Spaces
9
Property subtype
Special Purpose
Building Details
Year Built
1887
Year Renovated
2016
Buildings
2
Units
9
Listing Agency:
Newmark
Listed By:
John Hoefer · License #2015009603
(816) 268-4248
Source:
Crexi
Added: Apr 28
Changed: Sep 2
Last Checked: Sep 1 at 1:18AM
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 Newmark
Investment Insights
Based on property information with market context.
This mixed-use property at 1020 Pennsylvania Avenue in KCMO encompasses 5,700 square feet across a historic building and carriage house. Originally built in 1887 and listed on the historic register, the property received a full renovation in 2016. The main building contains approximately 1,600 square feet of vacant commercial space along with two leased apartments, each configured with two bedrooms and 1.5 baths.
The separate carriage house offers a two-level, one-bedroom, 1.5-bath short-term rental with a 30-day minimum stay. Nine gated parking stalls are located in the adjacent parking lot. The combination of commercial, multifamily, and furnished rental uses creates a varied property configuration at a Pennsylvania Avenue address.
The separate carriage house offers a two-level, one-bedroom, 1.5-bath short-term rental with a 30-day minimum stay. Nine gated parking stalls are located in the adjacent parking lot. The combination of commercial, multifamily, and furnished rental uses creates a varied property configuration at a Pennsylvania Avenue address.
Key Highlights
- 5,700‑square‑foot mixed‑use property in KCMO
- Built in 1887 and recognized on the historic register
- Full building renovation completed in 2016
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
$80,531
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
4.75%
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%
$1,610,620
$1.6M
Cap Rate 7%
$1,150,443
$1.2M
Cap Rate 9%
$894,789
$894.8K
Market Conditions
NOI Build-Up for 5,700 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
$128.6K $22.56/SF
− Vacancy
−$21.2K −$3.72/SF
EGI
$107.4K $18.84/SF
− OpEx
−$26.8K −$4.71/SF
NOI
$80.5K $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%
$1,610,620
Cap Rate 7%
$1,150,443
Cap Rate 9%
$894,789
Alternative Uses
Best Use
Office B
$1.15M
$1.01M – $1.34M
NOI $80,531 @ 7.0% cap · market cap 4.75%
Second Best
Mixed Use
$895.9K
$783.9K – $1.05M
NOI $62,714 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$1.36M
$1.19M – $1.58M
NOI $95,038 @ 7.0% cap · market cap 5.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,946
Businesses Nearby
Explore this area
Business Placement
Demographics for 64105, MO
6,424
Population
4,673
Households
1.4
Avg Household Size
30
Median Age
69%
College-Educated
99%
High-School Grad
0.8 sq mi
ZIP Area
8,030
Density / Sq Mi
$65,435
Median Household Income
$59,983
Median Earnings
$1,558
Median Rent
$228,400
Median Home Value
Market
Vacancy Rate% for Office in Kansas City, MO
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated historic property combines commercial space, apartments, and a short-term rental component.
Where is this mixed-use property located?
The property is located at 1020 Pennsylvania Avenue Kansas City, MO.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: 5,700‑square‑foot mixed‑use property in KCMO; Built in 1887 and recognized on the historic register; Full building renovation completed in 2016
