Medical Office Building with
For Sale
$3,100,000
20101 E Jackson Drive Independence, Independence, MO 64057
Brick single-story building with an interior courtyard, active medical tenants, and a vacant space available for owner occupancy.
Property Size16,086 SF
Price / SF$192.71
Days on Market30
Property Features for 20101 E Jackson Drive Independence
General Information
Standard status
Active
Size
16,086 SF
Zoning
C-2
Occupancy
43%
Additional Details
Business Included
Yes
Highway Access
Yes
Sprinkler System
Yes
Amenities
1
1.6
Parking Lot
Business District,Free Standing
City Street
Building Details
Year Built
2002
Stories
1
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeServices Stein & Summers Real Estate
(816) 232-2000
Listed By:
Cathy Echterling · License #2024002156
(816) 232-2000
Source:
Bhhsstein
Added: Jul 14
Changed: Aug 10
Last Checked: Aug 12 at 3:57AM
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 Berkshire Hathaway HomeServices Stein & Summers Real Estate
Investment Insights
Based on property information with market context.
This brick, single-story medical office building includes an interior courtyard and a sprinkler system. The property has occupied space leased to medical service related tenants through 2027 and 2028, with options to renew. A vacant 9,106 SF portion is available for owner-occupancy, and the listing notes the space is also available for lease with re-tenancy subject to conditions.
The building is described as providing freeway visibility from I-70. Recent capital improvements noted in the remarks include new HVAC (2020), a 50-year slate roof (installed 2022), new hot water heaters (2022), and a resurfaced parking lot (2022). Monument signage and recorded surveys are also identified.
Additional context in the remarks references the Independence Center shopping district and Independence Events Center, with access to area retail and entertainment without needing to get on the interstate.
The building is described as providing freeway visibility from I-70. Recent capital improvements noted in the remarks include new HVAC (2020), a 50-year slate roof (installed 2022), new hot water heaters (2022), and a resurfaced parking lot (2022). Monument signage and recorded surveys are also identified.
Additional context in the remarks references the Independence Center shopping district and Independence Events Center, with access to area retail and entertainment without needing to get on the interstate.
Key Highlights
- Single‑story brick building with interior courtyard
- Total lot size: 1.6 acres; city street frontage; free‑standing in the business district
- New HVAC in 2020; hot water heaters replaced in 2022
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
$246,116
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
7.94%
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%
$4,922,320
$4.9M
Cap Rate 7%
$3,515,943
$3.5M
Cap Rate 9%
$2,734,622
$2.7M
Market Conditions
NOI Build-Up for 16,086 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
$386.1K $24.00/SF
− Vacancy
−$57.9K −$3.60/SF
EGI
$328.2K $20.40/SF
− OpEx
−$82.0K −$5.10/SF
NOI
$246.1K $15.30/SF
Area
Independence, MO
Vacancy
15.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$4,922,320
Cap Rate 7%
$3,515,943
Cap Rate 9%
$2,734,622
Alternative Uses
Best Use
Office B
$3.52M
$3.08M – $4.10M
NOI $246,116 @ 7.0% cap · market cap 7.94%
Second Best
Healthcare Medical
$3.39M
$2.96M – $3.95M
NOI $236,966 @ 7.0% cap · market cap 7.64%
Theoretical Best
Office A
$4.75M
$4.16M – $5.55M
NOI $332,787 @ 7.0% cap · market cap 10.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
43.4%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
679
Businesses Nearby
Explore this area
Business Placement
Demographics for 64057, MO
14,830
Population
6,652
Households
2.2
Avg Household Size
44
Median Age
29%
College-Educated
94%
High-School Grad
14.7 sq mi
ZIP Area
1,009
Density / Sq Mi
$71,441
Median Household Income
$44,391
Median Earnings
$1,139
Median Rent
$235,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Brick single-story building with an interior courtyard, active medical tenants, and a vacant space available for owner occupancy.
Where is this office building located?
The property is located at 20101 E Jackson Drive Independence Independence, MO.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: Single‑story brick building with interior courtyard; Total lot size: 1.6 acres; city street frontage; free‑standing in the business district; New HVAC in 2020; hot water heaters replaced in 2022
