Retro Mixed-Use Building For
5012 State Avenue Kansas City, KS 66102
For Sale
$2,530,000
Three-story building with retail, residential, and office spaces.
Property Size16,647 SF
Lot Size1.67 Acres
Price / SF$151.98
Days on Market543
Property Features for 5012 State Avenue
General Information
Standard status
Active
Size
16,647 SF
Lot size
1.67 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1975
Listing Agency:
Select Sites LLC
(816) 668-7276
Listed By:
Susan Scott · License #BR00219153
(816) 668-7276
Source:
Exitrealty
Added: Jan 31, 2025
Changed: Jul 10
Last Checked: Jul 27 at 6:35AM
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 Select Sites LLC
Investment Insights
Based on property information with market context.
This well-maintained 3-story retro mixed-use masonry block building offers versatile space on a 72,658± SF site. Located along a major roadway, the property has the potential to meet neighborhood retail and residential needs, offering strong value-add opportunities for redevelopment or repositioning. The main level features 16,647± SF divisible into multiple retail storefronts, including a 5,900± SF full-service restaurant with 14' clear heights, ideal for retail and service establishments. The upper level provides 14,607± SF with 31 studio-style residential units and 2 office spaces, providing in-demand housing and workspace solutions with 12' clear heights. The rear garden level offers 6,286± SF suitable for office, quasi-retail or storage uses. The elevator-served building is located on a prominent, well-traveled State Avenue with substantial visibility for businesses. It has direct access to I-635, I-70, and I-435 for seamless regional travel. Located in an area with increasing investment and development, positioning it as a growth focal point. It is ideal for investors or owner-users to capitalize on its flexibility and potential.
Key Highlights
- Value‑add opportunity for redevelopment or repositioning.
- Versatile mixed‑use building with retail, residential, and office spaces.
- Located on a prominent, well‑traveled avenue with substantial visibility.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $239.7k | $14.40 |
| − Vacancy | −$9.8k | −$0.59 |
| EGI | $229.9k | $13.81 |
| − OpEx | −$69.0k | −$4.14 |
| NOI | $160.9k | $9.67 |
16,647 SF · lease $14.40/SF/yr · vacancy 4.10% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.30M
$2.01M – $2.68M
NOI $160,922 @ 7.0% cap · market cap 6.36%
Second Best
Mixed Use
$2.25M
$1.97M – $2.62M
NOI $157,314 @ 7.0% cap · market cap 6.22%
Theoretical Best
Office A
$2.76M
$2.41M – $3.22M
NOI $193,055 @ 7.0% cap · market cap 7.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story building with retail, residential, and office spaces.
Where is this mixed-use property located?
The property is located at 5012 State Avenue Kansas City, KS.
What is the asking price?
The asking price for this property is $2,530,000.
What are key features of this property?
This property features: Value‑add opportunity for redevelopment or repositioning.; Versatile mixed‑use building with retail, residential, and office spaces.; Located on a prominent, well‑traveled avenue with substantial visibility.
