Renovated 12-Unit Apartment
For Sale
$1,799,000
1201 Main St, Parkville, MO 64152
Renovated in 2024, this 12-unit multifamily building offers 100% occupancy and R-4 zoning.
Property Size14,922 SF
Days on Market98
Property Features for 1201 Main St
General Information
Standard status
Active
Size
14,922 SF
Property subtype
Multifamily
Building Details
Building Size
14,922 SF
Year Built
1900
Listed By:
Kerry Weems · License #MO #2020026520
(816) 803-0795
Source:
Clemonsrealestate
Added: Jun 2
Changed: Sep 4
Last Checked: Sep 7 at 7:05AM
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 Kerry Weems
Investment Insights
Based on property information with market context.
This 12-unit apartment building totals 14,922 square feet and was built in 1900. The property was renovated in 2024 and is currently listed with 100% occupancy.
The building is zoned R-4 and is located near downtown Parkville and Park University.
With its existing unit count, recent renovations, and R-4 zoning, the property is positioned for an investor seeking a ready-to-operate multifamily asset.
The building is zoned R-4 and is located near downtown Parkville and Park University.
With its existing unit count, recent renovations, and R-4 zoning, the property is positioned for an investor seeking a ready-to-operate multifamily asset.
Key Highlights
- 14,922 SF multifamily building with 12 units
- Built in 1900 and renovated in 2024
- 100% occupancy
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
$133,521
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
7.42%
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%
$2,670,420
$2.7M
Cap Rate 7%
$1,907,443
$1.9M
Cap Rate 9%
$1,483,567
$1.5M
Market Conditions
NOI Build-Up for 14,922 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
$259.6K $17.40/SF
− Vacancy
−$16.9K −$1.13/SF
EGI
$242.8K $16.27/SF
− OpEx
−$109.2K −$7.32/SF
NOI
$133.5K $8.95/SF
Area
ZIP 64152
Vacancy
6.50%
Lease Rate
$17.40 /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%
$2,670,420
Cap Rate 7%
$1,907,443
Cap Rate 9%
$1,483,567
Alternative Uses
Best Use
Apartment 5plus
$1.91M
$1.67M – $2.23M
NOI $133,521 @ 7.0% cap · market cap 7.42%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$11.14M
$9.74M – $12.99M
NOI $779,576 @ 7.0% cap · market cap 43.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,097
Businesses Nearby
Explore this area
Business Placement
Demographics for 64152, MO
29,623
Population
12,525
Households
2.4
Avg Household Size
38
Median Age
51%
College-Educated
97%
High-School Grad
30.9 sq mi
ZIP Area
959
Density / Sq Mi
$110,421
Median Household Income
$51,231
Median Earnings
$1,236
Median Rent
$333,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated in 2024, this 12-unit multifamily building offers 100% occupancy and R-4 zoning.
Where is this apartment building located?
The property is located at 1201 Main St Parkville, MO.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: 14,922 SF multifamily building with 12 units; Built in 1900 and renovated in 2024; 100% occupancy
