Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    423 W 8th St Kansas City, MO

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    77,551 SF creative office with attached parking garage.

    Type:OFFICE
    Property size:
    77,551 SF
    Lot size:
    0.30 Acres
    Price / SF:
    $90/SF
    Added:
    Apr 5, 2024
    Days on Market:
    759
    Last Refresh:
    Apr 5 at 9:48 pm

    Property Features for 423 W 8th St

    General Information

    Standard status
    Active
    Size
    77,551 SF
    Lot size
    0.30 Acres
    Property subtype
    OFFICE

    We can help!

    Listing Contact
    RJ Trowbridge
    RJ Trowbridge

    Listing agent RJ Trowbridge License #2014004973

    Listing office JLL | Kansas City

    Listing date Apr 5, 2024

    Source Moodyscre

    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 JLL | Kansas City

    Overview

    Garment District Office Building

    This 77,551 square foot office building is located in the Garment District within the CBD submarket. The creative brick and timber office space includes furniture configured for immediate occupancy. The typical floorplate is 11,000 square feet. The property features a three-story, attached parking garage totaling 394 spaces. The top floor has high ceilings and an executive conference room. The building offers easy access to highway I-35 and 70/169 interchanges.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    417BOOM Web Design ... Advertising Agency

    Suggested Use

    Real Estate Agency Dental Office Spa & Massage Center Restaurant Hair Salon Nail Salon Daycare Center Building Supply Kitchen & Bath Showroom Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Kansas City
    County
    Platte
    State
    Missouri
    Longitude
    -94.5893
    Latitude
    39.1042

    Nearby Similar for Sale

    • $450,000

      Versatile Commercial Property in Kansas

      Well-maintained commercial property with flexible layout and excellent connectivity.
      7315 Sni A Bar Road, Kansas City, MO 64129
      View Details
    • $1,250,000

      Blue Ridge Blvd Redevelopment Opportunity

      Portfolio of three properties on high-visibility Blue Ridge Blvd.
      11810 Blue Ridge Boulevard, Kansas City, MO 64134
      View Details
    • $250,000

      Commercial Property with Avenue Views

      Two buildings in mixed-use development area with parking.
      6909 Prospect Avenue, Kansas City, MO 64132
      View Details
    • $350,000

      Auto Shop on High-Traffic Thoroughfare

      Well-equipped auto repair shop and used car lot for sale.
      1201 Van Brunt Boulevard, Kansas City, MO 64127
      View Details
    • $299,000

      Commercial Space in Kansas City

      Versatile commercial space with high visibility and ample parking.
      7947 PROSPECT Avenue, Kansas City, MO 64132
      View Details
    • $695,000

      Industrial Building with Fenced Yard

      Move-in-ready warehouse/shop with outdoor storage in established industrial corridor.
      7900 E 17th Street, Kansas City, MO 64126
      View Details
    • $355,000

      Gladstone Duplex: Investment Opportunity

      Duplex in Gladstone area with renovation and rental income potential.
      3520 NE 72nd Street, Kansas City, MO 64119
      View Details
    • $325,000

      Turnkey Duplex in Kansas City

      All-brick duplex with immediate rental income in a prime location.
      8021 Holmes Road, Kansas City, MO 64134
      View Details
    • $850,000

      Historic Duplex with Modern Addition

      10-bedroom duplex in Kansas City with new construction.
      3412 Charlotte Street, Kansas City, MO 64109
      View Details
    • $459,999

      Versatile Commercial Property Near I-70

      Centrally located commercial property suitable for various business types.
      3812 Bennington Avenue, Kansas City, MO 64129
      View Details
    • $590,000

      Turnkey Multifamily Investment Property

      Multifamily investment property near Country Club Plaza in Kansas City.
      4515 Virginia Avenue, Kansas City, MO 64110
      View Details
    • $950,000

      Secure Lot with Office Space

      High-visibility lot with office, storage, and highway access.
      6850 E Front Street, Kansas City, MO 64120
      View Details

    FAQs

    What type of property is this?
    Office building - 77,551 SF creative office with attached parking garage.
    Where is this office building located?
    The property is located at 423 W 8th St Kansas City, MO.
    What is the asking price?
    The asking price for this property is $7,000,000.
    What are key features of this property?
    This property features: Attached parking garage with 394 spaces.; Creative brick and timber office space.; Furniture included and configured for immediate occupancy.
    (913) 469-4600 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing RJ Trowbridge
    RJ Trowbridge
    Real Estate License ID: 2014004973
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    423 W 8th St, Kansas City, MO

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!