Loft Studios in Historic
For Sale
Contact for pricing
2223 Guinotte Avenue, Kansas City, MO 64120
31 loft-style studios in Kansas City industrial area.
Property Size10,000 SF
Price / SF$180
Days on Market474
Property Features for 2223 Guinotte Avenue
General Information
Standard status
Active
Size
10,000 SF
Property subtype
Hospitality
Zoning
Multi
Investment Type
Owner/User
Building Details
Year Built
1964
Year Renovated
2023
Buildings
2
Stories
1
Units
31
Listing Agency:
Realty Executives of Kansas City
(816) 863-7797
Listed By:
Michael Diggs · License #2008020616
Source:
Crexi
Added: Apr 26, 2025
Changed: Aug 8
Last Checked: Aug 8 at 6:31AM
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 Realty Executives of Kansas City
Investment Insights
Based on property information with market context.
Located in a Kansas City industrial area, this property, referred to as "DREAM HOUSE", features 31 loft-style studio apartments, each approximately 300 sq ft. The property is undergoing rehabilitation to convert a historic 1890s building into Airbnb units, with 24 units already completed. The apartments are designed to be efficient, each including a kitchen and unique theme. The property is situated approximately six blocks from The Columbus Park District (Little Italy), known for its Italian and American restaurants, and eight to ten blocks from The Street Car Terminal and the Historic City and River Market area. It is also located about six minutes from downtown Kansas City's Sprint Center and Power and Light Entertainment District, and five blocks east of Knucklehead’s music venue. The property includes a parking lot with video surveillance. The sale includes the warehouse at 410 N Park Ave along with 2223 Guinotte Ave. Seller financing options are available.
Key Highlights
- Loft‑style studio apartment ideal for Airbnb use in a rehabilitated historic 1890s building.
- Located in a Kansas City industrial area, close to popular districts and attractions.
- Units are uniquely themed with kitchens, offering a distinct experience.
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
$107,375
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
5.97%
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%
$2,147,500
$2.1M
Cap Rate 7%
$1,533,929
$1.5M
Cap Rate 9%
$1,193,056
$1.2M
Market Conditions
NOI Build-Up for 10,000 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
$208.8K $20.88/SF
− Vacancy
−$13.6K −$1.36/SF
EGI
$195.2K $19.52/SF
− OpEx
−$87.9K −$8.79/SF
NOI
$107.4K $10.74/SF
Area
Kansas City, MO
Vacancy
6.50%
Lease Rate
$20.88 /SF/Yr
Expense Ratio
45.00%
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%
$2,147,500
Cap Rate 7%
$1,533,929
Cap Rate 9%
$1,193,056
Alternative Uses
Best Use
Apartment 5plus
$1.53M
$1.34M – $1.79M
NOI $107,375 @ 7.0% cap · market cap 5.97%
Second Best
Hotel Hospitality
$895.7K
$783.8K – $1.05M
NOI $62,700 @ 7.0% cap · market cap 3.48%
Theoretical Best
Office A
$2.38M
$2.08M – $2.78M
NOI $166,733 @ 7.0% cap · market cap 9.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
300
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 64120, MO
880
Population
468
Households
1.9
Avg Household Size
30
Median Age
50%
College-Educated
92%
High-School Grad
7.9 sq mi
ZIP Area
111
Density / Sq Mi
$74,954
Median Household Income
$72,679
Median Earnings
$1,623
Median Rent
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Inn at 425 — 425 Gladstone Blvd, Kansas City, MO 64124
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Frequently Asked Questions
What type of property is this?
Bed & breakfast - 31 loft-style studios in Kansas City industrial area.
Where is this bed & breakfast located?
The property is located at 2223 Guinotte Avenue Kansas City, MO.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Loft‑style studio apartment ideal for Airbnb use in a rehabilitated historic 1890s building.; Located in a Kansas City industrial area, close to popular districts and attractions.; Units are uniquely themed with kitchens, offering a distinct experience.
