Medical Office Building with Walkout Lower
For Sale
$999,000
10800 E 77th Terrace, Raytown, MO 64138
Single-tenant dental and medical office on 1.27 acres with ADA entrance and 18 surface parking spaces.
Property Size3,481 SF
Lot Size1.27 Acres
Price / SF$286.99
Days on Market27
Property Features for 10800 E 77th Terrace
General Information
Standard status
Active
Size
3,481 SF
Total Parking Spaces
18
Lot size
1.27 Acres
Property subtype
Commercial
Zoning
OFC
Additional Details
Office Units
1
Taxes and HOA fees
Annual Taxes
$24,020
Amenities
ADA-accessible entrance
building signage
Building Details
Year Built
2002
Year Renovated
2021
Buildings
1
Tenancy
Single
Owner Occupied
No
Listing Agency:
Real Broker, LLC-MO
(816) 524-7272
Listed By:
Richey Real Estate Group
(816) 524-7272
Source:
Coloniallistings
Added: Jul 29
Changed: Aug 23
Last Checked: Aug 23 at 4:16AM
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 Real Broker, LLC-MO
Investment Insights
Based on property information with market context.
This income-producing, single-tenant dental and medical office investment is configured for clinical use with supporting office and lower-level space. The building provides approximately 3,481 finished square feet, including a 2,070-square-foot main clinical level and a 1,411-square-foot finished walkout lower level. The property sits on approximately 1.27 acres and features an ADA-accessible entrance, building signage, and 18 surface parking spaces.
Originally constructed in 2002 and renovated and expanded in 2021, the improvements include a modernized facade, updated interior, a building addition, resurfaced and restriped parking lot, and HVAC and furnace systems installed in 2021. The layout was designed specifically for dental and medical operations.
The property is leased to Apex Missouri Management, LLC through October 9, 2030. The lease is structured as a modified net lease, with the tenant paying utilities and reimbursing real estate taxes, property insurance, and operating expenses. Two additional five-year tenant renewal options are included, each with a 10% base-rent increase at the beginning of the exercised option period. Sale includes the real estate subject to the existing lease; the tenant’s business, equipment, personal property, and trade fixtures are excluded.
Originally constructed in 2002 and renovated and expanded in 2021, the improvements include a modernized facade, updated interior, a building addition, resurfaced and restriped parking lot, and HVAC and furnace systems installed in 2021. The layout was designed specifically for dental and medical operations.
The property is leased to Apex Missouri Management, LLC through October 9, 2030. The lease is structured as a modified net lease, with the tenant paying utilities and reimbursing real estate taxes, property insurance, and operating expenses. Two additional five-year tenant renewal options are included, each with a 10% base-rent increase at the beginning of the exercised option period. Sale includes the real estate subject to the existing lease; the tenant’s business, equipment, personal property, and trade fixtures are excluded.
Key Highlights
- 3,481 SF medical office with 2,070 SF main clinical level and 1,411 SF finished walkout lower level
- Single‑tenant lease to Apex Missouri Management, LLC through October 9, 2030
- Modified net lease: tenant pays utilities and reimburses real estate taxes, property insurance, and operating expenses
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
$40,216
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
4.03%
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%
$804,320
$804.3K
Cap Rate 7%
$574,514
$574.5K
Cap Rate 9%
$446,844
$446.8K
Market Conditions
NOI Build-Up for 3,481 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
$63.9K $18.36/SF
− Vacancy
−$10.3K −$2.96/SF
EGI
$53.6K $15.40/SF
− OpEx
−$13.4K −$3.85/SF
NOI
$40.2K $11.55/SF
Area
Jackson County, MO
Vacancy
16.10%
Lease Rate
$18.36 /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%
$804,320
Cap Rate 7%
$574,514
Cap Rate 9%
$446,844
Alternative Uses
Best Use
Office B
$574.5K
$502.7K – $670.3K
NOI $40,216 @ 7.0% cap · market cap 4.03%
Second Best
Healthcare Medical
$113.4K
$99.3K – $132.3K
NOI $7,940 @ 7.0% cap · market cap 0.79%
Theoretical Best
Warehouse
$915.5K
$801.1K – $1.07M
NOI $64,087 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
314
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 64138, MO
25,565
Population
11,273
Households
2.3
Avg Household Size
38
Median Age
22%
College-Educated
92%
High-School Grad
13.3 sq mi
ZIP Area
1,922
Density / Sq Mi
$54,619
Median Household Income
$39,210
Median Earnings
$1,127
Median Rent
$164,900
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Single-tenant dental and medical office on 1.27 acres with ADA entrance and 18 surface parking spaces.
Where is this medical office space located?
The property is located at 10800 E 77th Terrace Raytown, MO.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 3,481 SF medical office with 2,070 SF main clinical level and 1,411 SF finished walkout lower level; Single‑tenant lease to Apex Missouri Management, LLC through October 9, 2030; Modified net lease: tenant pays utilities and reimburses real estate taxes, property insurance, and operating expenses
