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

    713 Rte 291 Lees Summit, MO

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

    Retail property with high visibility and traffic, pad site opportunity.

    Type:RETAIL
    Property size:
    5,476 SF
    Lot size:
    0.70 Acres
    Price / SF:
    $273/SF
    Added:
    Mar 21, 2025
    Days on Market:
    406
    Last Refresh:
    Apr 5 at 11:06 pm

    Property Features for 713 Rte 291

    General Information

    Standard status
    Active
    Size
    5,476 SF
    Lot size
    0.70 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Bill Maas, CCIM
    Bill Maas, CCIM

    Listing agent Bill Maas, CCIM License #SP00232153

    Listing office Block & Company, Inc.

    Listing date Mar 21, 2025

    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 Block & Company, Inc.

    Overview

    Retail Property with High Visibility

    This 5,476 square foot retail property offers a prime location with high visibility and traffic. The property features five bays and presents a pad site opportunity. A new intersection is planned for 2024 at Blue Parkway and 7th Terrace, which will provide additional frontage.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Lees Summit
    County
    Cass
    State
    Missouri
    Longitude
    -94.4594
    Latitude
    38.7984

    Nearby Similar for Sale

    • $1,250,000

      Downtown Lee's Summit Corner Lot

      Corner lot in downtown Lee's Summit with business potential.
      203 SW Jefferson Street, Lee's Summit, MO 64063
      View Details
    • $1,250,000

      Remodeled Commercial Property on 1.6 Acres

      High-visibility commercial property with offices, warehouse, and showroom.
      1600 SW Market Street, Lee's Summit, MO 64081
      View Details
    • $750,000

      New Twin Villa Community

      Two-story twin villas near Downtown Lee's Summit.
      223-225 NW Orchard Court, Lee's Summit, MO 64063
      View Details
    • $690,000

      New Twin Villa Community

      Twin villas near Downtown Lee's Summit with low-maintenance living.
      216-218 NW Orchard Court, Lee's Summit, MO 64063
      View Details
    • $2,050,000

      Multi-Level Professional Building For Sale

      Move-in ready medical/professional office with long-term tenant income.
      350 Greenwich Drive SW, Lee's Summit, MO 64082
      View Details
    • $525,000

      Updated Duplex in Lee's Summit

      Updated duplex with spacious kitchens, fireplaces, and large backyards.
      1108 and 1110 SE 8th Street, Lee's Summit, MO 64063
      View Details
    • $600,000

      Versatile Commercial Property in Lee's Summit

      High-visibility commercial property suitable for office, retail, or service businesses.
      813 SW Oldham Boulevard, Lee's Summit, MO 64063
      View Details
    • $700,000

      New Twin Villa in Lee's Summit

      Two-story twin villa near Downtown Lee's Summit with modern amenities.
      211-213 NW Orchard Court, Lee's Summit, MO 64063
      View Details
    • $1,500,000

      Lee's Summit Retail Investment

      Prime retail building on 0.59 acres in Lee's Summit.
      959 SE Oldham Parkway, Lee's Summit, MO 64081
      View Details
    • $450,000
      3,207 SF

      Lee's Summit Duplex with Allowance

      Three-bedroom duplex with allowance in desirable Lee's Summit subdivision.
      1520 SW Antiquity Drive, Lee's Summit, MO 64081
      View Details
    • $375,000
      2,265 SF

      Spanish Duplex in Lee's Summit

      3-bedroom, 3-bath duplex in a sought-after Lee's Summit neighborhood.
      2504 NW Ashurst Drive, Lee's Summit, MO 64081
      View Details
    • $415,000
      2,804 SF

      Lee's Summit Ranch Duplex

      Well-maintained duplex with finished basement and HOA benefits.
      507 Ashurst Court, Lee's Summit, MO 64081
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail property with high visibility and traffic, pad site opportunity.
    Where is this retail space located?
    The property is located at 713 Rte 291 Lees Summit, MO.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: Prime location; High visibility and traffic; New intersection coming in 2024 with frontage on Blue Parkway and 7th Terrace
    (816) 753-6000 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Bill Maas, CCIM
    Bill Maas, CCIM
    Real Estate License ID: SP00232153
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!