Multifamily Property with 30
For Sale
Contact for pricing
1114 Baltimore Ave, Kansas City, MO 64105
Multifamily property featuring 30 units in Kansas City, Missouri.
Property Size18,573 SF
Price / SF$230.98
Days on Market165
Property Features for 1114 Baltimore Ave
General Information
Standard status
Active
Size
18,573 SF
Class
B
Property subtype
Multifamily
Occupancy
97%
Investment Type
Core+
Net Operating Income
$259,790
Building Details
Year Built
1915
Year Renovated
2018
Buildings
1
Stories
9
Units
30
Listing Agency:
Crossroads Real Estate Group
Listed By:
Holly Mills · License #MO 2004031968
Source:
Crexi
Added: Mar 9
Changed: Aug 19
Last Checked: Aug 19 at 4:50PM
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 Crossroads Real Estate Group
Investment Insights
Based on property information with market context.
This multifamily property, located in Kansas City, Missouri, features a total of 30 units. The property encompasses a total area of 18,573 square feet. The intended use of the property is multifamily residential.
Key Highlights
- Multifamily property with 30 units.
- Priced at $150,000 per unit.
- Built in 1915.
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
$199,428
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
4.65%
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%
$3,988,560
$4.0M
Cap Rate 7%
$2,848,971
$2.8M
Cap Rate 9%
$2,215,867
$2.2M
Market Conditions
NOI Build-Up for 18,573 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
$387.8K $20.88/SF
− Vacancy
−$25.2K −$1.36/SF
EGI
$362.6K $19.52/SF
− OpEx
−$163.2K −$8.79/SF
NOI
$199.4K $10.74/SF
Area
Kansas City, MO
Vacancy
6.50%
Lease Rate
$20.88 /SF/Yr
Expense Ratio
45.00%
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%
$3,988,560
Cap Rate 7%
$2,848,971
Cap Rate 9%
$2,215,867
Alternative Uses
Best Use
Apartment 5plus
$2.85M
$2.49M – $3.32M
NOI $199,428 @ 7.0% cap · market cap 4.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.42M
$3.87M – $5.16M
NOI $309,673 @ 7.0% cap · market cap 7.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,107
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 Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property featuring 30 units in Kansas City, Missouri.
Where is this apartment building located?
The property is located at 1114 Baltimore Ave Kansas City, MO.
What is the asking price?
The asking price for this property is $4,290,000.
What are key features of this property?
This property features: Multifamily property with 30 units.; Priced at $150,000 per unit.; Built in 1915.
