Two-Building Warehouse
For Sale
Contact for pricing
1177 N Independence St, Harrisonville, MO 64701
Warehouse improvements include heated and cooled space, office support, and multiple drive-in access points.
Property Size6,000 SF
Price / SF$104.17
Days on Market213
Property Features for 1177 N Independence St
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Industrial, Retail
Investment Type
Owner/User
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
5
Conditioned Warehouse
Yes
Additional Details
Asking Price
$625,000
Building Details
Year Built
1996
Buildings
2
Listing Agency:
Newmark
(816) 474-0197
Listed By:
Hugh Riley · License #CO90072760
Source:
Crexi
Added: Jan 29
Changed: Aug 29
Last Checked: Aug 29 at 10:03PM
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.
The property contains 6,000 square feet across two warehouse buildings constructed in 1996. The 4,000-square-foot main building includes heated and cooled warehouse space, a small second-floor office and restroom area, 16-foot ceiling clearance, and three drive-in doors. The separate 2,000-square-foot outbuilding provides additional warehouse capacity with two grade-level doors.
Located at 1177 N Independence St in Harrisonville, Missouri, the property combines distinct warehouse structures with varied access and support areas. The main building is available for lease, while the outbuilding is leased, providing an existing two-building configuration for an owner or operator.
Located at 1177 N Independence St in Harrisonville, Missouri, the property combines distinct warehouse structures with varied access and support areas. The main building is available for lease, while the outbuilding is leased, providing an existing two-building configuration for an owner or operator.
Key Highlights
- 6,000 SF total across two warehouse buildings
- 4,000 SF main warehouse with heated and cooled space
- Main building features 16’ ceiling clearance and 3 drive‑in doors
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
$41,723
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
6.68%
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%
$834,460
$834.5K
Cap Rate 7%
$596,043
$596.0K
Cap Rate 9%
$463,589
$463.6K
Market Conditions
NOI Build-Up for 6,000 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
$54.0K $9.00/SF
− Vacancy
−$4.9K −$0.82/SF
EGI
$49.1K $8.18/SF
− OpEx
−$7.4K −$1.23/SF
NOI
$41.7K $6.95/SF
Area
Cass County, MO
Vacancy
9.10%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$834,460
Cap Rate 7%
$596,043
Cap Rate 9%
$463,589
Alternative Uses
Best Use
Warehouse
$596.0K
$521.5K – $695.4K
NOI $41,723 @ 7.0% cap · market cap 6.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.35M
$1.18M – $1.58M
NOI $94,694 @ 7.0% cap · market cap 15.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
5
Drive-in doors
Location Intelligence
Trade Area within ½ mile
451
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 64701, MO
14,681
Population
5,988
Households
2.5
Avg Household Size
40
Median Age
19%
College-Educated
91%
High-School Grad
124.0 sq mi
ZIP Area
118
Density / Sq Mi
$73,270
Median Household Income
$45,143
Median Earnings
$886
Median Rent
$234,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Pac-Rite Storage — 1640 W Mechanic St, Harrisonville, MO 64701
- Faust Storage — 112 N Independence St, Harrisonville, MO 64701
- Scoular Co — 1209 Industrial Blvd, Harrisonville, MO 64701
- Trackside Mini Storage — 801 N Lexington St, Harrisonville, MO 64701
- D & Z Mini Storage — 720 N Independence St, Harrisonville, MO 64701
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse improvements include heated and cooled space, office support, and multiple drive-in access points.
Where is this warehouse located?
The property is located at 1177 N Independence St Harrisonville, MO.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 6,000 SF total across two warehouse buildings; 4,000 SF main warehouse with heated and cooled space; Main building features 16’ ceiling clearance and 3 drive‑in doors
