Automotive Shop with Overhead
For Sale
Contact for pricing
15505 East US Highway 24, Independence, MO 64050
Operating automotive service property with equipment, business assets, and customer parking.
Property Size6,093 SF
Price / SF$229.77
Days on Market10
Property Features for 15505 East US Highway 24
General Information
Standard status
Active
Size
6,093 SF
Property subtype
Retail, Industrial
Financials
Asking Price
$1,400,000
Business Included
Yes
Building Details
Year Built
2017
Buildings
1
Listing Agency:
Reece Commercial
Listed By:
Brandon McGeehan · License #KS 00244426
Source:
Crexi
Added: Aug 21
Changed: Aug 30
Last Checked: Aug 30 at 3:21AM
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 Reece Commercial
Investment Insights
Based on property information with market context.
This automotive shop includes a 6,093-square-foot facility constructed in 2017, with six large overhead doors and a dedicated service area. The offering includes the real estate, equipment, and established book of business, providing an operating automotive service platform rather than a vacant building.
The property fronts the US-24 corridor at 15505 East US Highway 24 in Independence, Missouri. A recently expanded parking lot provides space for customers, employees, and vehicle storage. A 2025 appraisal is also available as part of the property information.
The property fronts the US-24 corridor at 15505 East US Highway 24 in Independence, Missouri. A recently expanded parking lot provides space for customers, employees, and vehicle storage. A 2025 appraisal is also available as part of the property information.
Key Highlights
- 6,093‑square‑foot automotive facility built in 2017
- Six large overhead doors and a spacious service area
- Sale includes real estate, equipment, and established book of business
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
$73,701
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
5.26%
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%
$1,474,020
$1.5M
Cap Rate 7%
$1,052,871
$1.1M
Cap Rate 9%
$818,900
$818.9K
Market Conditions
NOI Build-Up for 6,093 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
$109.7K $18.00/SF
− Vacancy
−$4.4K −$0.72/SF
EGI
$105.3K $17.28/SF
− OpEx
−$31.6K −$5.18/SF
NOI
$73.7K $12.10/SF
Area
Independence, MO
Vacancy
4.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,474,020
Cap Rate 7%
$1,052,871
Cap Rate 9%
$818,900
Alternative Uses
Best Use
Retail
$1.05M
$921.3K – $1.23M
NOI $73,701 @ 7.0% cap · market cap 5.26%
Second Best
Industrial
$887.8K
$776.8K – $1.04M
NOI $62,144 @ 7.0% cap · market cap 4.44%
Theoretical Best
Office A
$1.80M
$1.58M – $2.10M
NOI $126,052 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
135
Businesses Nearby
8k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Shell
Shops & Services
4,780 visits/mo
0.2 miles
O'Reilly Auto Parts
Shops & Services
3,079 visits/mo
0.2 miles
Gerber Collision & Glass
Shops & Services
308 visits/mo
0.4 miles
Demographics for 64050, MO
22,223
Population
10,338
Households
2.1
Avg Household Size
39
Median Age
15%
College-Educated
87%
High-School Grad
12.9 sq mi
ZIP Area
1,723
Density / Sq Mi
$46,561
Median Household Income
$36,084
Median Earnings
$915
Median Rent
$137,200
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- R & S Automotive, Inc. — 1112 Dickinson Rd, Independence, MO 64050
- RJ auto — 762-798 E US Hwy 24, Independence, MO 64050
- Lonnie's Tire Services — 1008 E US Hwy 24, Independence, MO 64050
- Xtreme Auto & Trailer — 1014 e us hwy 24, independence, mo 64050
- Assurance Automotive — 1014 E US Hwy 24, Independence, MO 64050
Frequently Asked Questions
What type of property is this?
Auto shop - Operating automotive service property with equipment, business assets, and customer parking.
Where is this auto shop located?
The property is located at 15505 East US Highway 24 Independence, MO.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 6,093‑square‑foot automotive facility built in 2017; Six large overhead doors and a spacious service area; Sale includes real estate, equipment, and established book of business
