Medical Building with Finished
For Sale
$550,000
1006 N Jesse James Rd, Excelsior Springs, MO 64024
Medical building with walkout basement on 1.59 acres.
Property Size3,637 SF
Lot Size1.59 Acres
Price / SF$151.22
Days on Market500
Property Features for 1006 N Jesse James Rd
General Information
Standard status
Active
Size
3,637 SF
Lot size
1.59 Acres
Listing Agency:
Jason Mitchell Real Estate Mis
(816) 630-9990
Listed By:
Hightower Heritage Team
(816) 630-9990
Source:
Exprealty
Added: Apr 9, 2025
Changed: Aug 20
Last Checked: Aug 20 at 1:37PM
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 Jason Mitchell Real Estate Mis
Investment Insights
Based on property information with market context.
This building, constructed in 1996, offers 3,637 square feet on the main level and a partially finished walkout basement with 2,817 square feet. Situated on approximately 1.59 acres, the property includes parking areas at the front and rear. The main floor is equipped for medical use, featuring eight patient rooms, an x-ray room, four offices, a lab area, two separated waiting rooms, two restrooms, and a reception area. The lower level includes three restrooms, a kitchenette, a garage entrance, and walkout doors. The building has been used as a medical building.
Key Highlights
- Boasting 3637 sq ft on the main level and an additional 2817 sq ft in the partially finished walkout basement.
- Previously a medical building, featuring 8 patient rooms, an x‑ray room, and a lab area.
- Situated on a spacious 1.59‑acre lot.
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
$45,600
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
8.29%
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%
$912,000
$912.0K
Cap Rate 7%
$651,429
$651.4K
Cap Rate 9%
$506,667
$506.7K
Market Conditions
NOI Build-Up for 3,637 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
$85.1K $23.40/SF
− Vacancy
−$9.1K −$2.50/SF
EGI
$76.0K $20.90/SF
− OpEx
−$30.4K −$8.36/SF
NOI
$45.6K $12.54/SF
Area
Clay County, MO
Vacancy
10.70%
Lease Rate
$23.40 /SF/Yr
Expense Ratio
40.00%
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%
$912,000
Cap Rate 7%
$651,429
Cap Rate 9%
$506,667
Alternative Uses
Best Use
Office B
$731.4K
$640.0K – $853.4K
NOI $51,201 @ 7.0% cap · market cap 9.31%
Second Best
Healthcare Medical
$651.4K
$570.0K – $760.0K
NOI $45,600 @ 7.0% cap · market cap 8.29%
Theoretical Best
Office A
$1.11M
$974.4K – $1.30M
NOI $77,948 @ 7.0% cap · market cap 14.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
153
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 64024, MO
15,575
Population
6,165
Households
2.5
Avg Household Size
42
Median Age
15%
College-Educated
89%
High-School Grad
70.4 sq mi
ZIP Area
221
Density / Sq Mi
$80,781
Median Household Income
$41,964
Median Earnings
$916
Median Rent
$185,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Vintage Plaza Veterinary Hospital — 1205 N Jesse James Rd, Excelsior Springs, MO 64024
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical building with walkout basement on 1.59 acres.
Where is this medical office space located?
The property is located at 1006 N Jesse James Rd Excelsior Springs, MO.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Boasting 3637 sq ft on the main level and an additional 2817 sq ft in the partially finished walkout basement.; Previously a medical building, featuring 8 patient rooms, an x‑ray room, and a lab area.; Situated on a spacious 1.59‑acre lot.
