Flex Space with
New
For Sale
$1,350,000
1600 SW Market Street, Lees Summit, MO 64081
The layout combines private offices, conference rooms, and warehouse space with a full kitchen.
Property Size10,848 SF
Lot Size1.60 Acres
Price / SF$124.45
Days on Market2
Property Features for 1600 SW Market Street
General Information
Standard status
Active
Size
10,848 SF
Lot size
1.60 Acres
Property subtype
Commercial
Zoning
COMM
Additional Details
Highway Access
Yes
Property Use
Office
Amenities
private offices
full bathrooms
conference rooms
spacious showroom
warehouse space
full kitchen
abundant storage
Building Details
Year Built
1950
Stories
2
Building Size
10,848 SF
Listing Agency:
RE/MAX Innovations
Listed By:
Robin Clark · License #2003019739
(816) 454-6540
Source:
Fishburnrealtyllc
Added: Oct 23
Last Checked: Oct 23 at 6:04PM
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 RE/MAX Innovations
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Investment Insights
Based on property information with market context.
This flex property contains 10,848 square feet on approximately 1.6 acres. Its interior includes 17 private offices, multiple conference rooms, a showroom, warehouse space, a full kitchen, storage, and 6 full bathrooms. Paved parking serves the property, and the rear portion offers room for potential expansion.
Located near the Highway 50 and 291 interchange in Lee's Summit, the site is zoned COMM. The building was constructed in 1950.
Located near the Highway 50 and 291 interchange in Lee's Summit, the site is zoned COMM. The building was constructed in 1950.
Key Highlights
- 10,848 square feet on approximately 1.6 acres
- Interior includes 17 private offices and 6 full bathrooms
- Showroom, warehouse space, multiple conference rooms, full kitchen, and storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$114,669
Cap Rate
8.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,293,380
$2.3M
Cap Rate 7%
$1,638,129
$1.6M
Cap Rate 9%
$1,274,100
$1.3M
Market Conditions
NOI Build-Up for 10,848 SF
Gross rent
$188.8K $17.40/SF
− Vacancy
−$35.9K −$3.31/SF
EGI
$152.9K $14.09/SF
− OpEx
−$38.2K −$3.52/SF
NOI
$114.7K $10.57/SF
Area
Lees Summit, MO
Vacancy
19.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,293,380
Cap Rate 7%
$1,638,129
Cap Rate 9%
$1,274,100
Alternative Uses
Best Use
Retail
$2.20M
$1.93M – $2.57M
NOI $154,249 @ 7.0% cap · market cap 11.43%
Second Best
Flex RnD
$1.79M
$1.57M – $2.09M
NOI $125,229 @ 7.0% cap · market cap 9.28%
Theoretical Best
Specialty Retail
$2.75M
$2.41M – $3.21M
NOI $192,726 @ 7.0% cap · market cap 14.28%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
255
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 64081, MO
24,903
Population
10,778
Households
2.3
Avg Household Size
43
Median Age
51%
College-Educated
98%
High-School Grad
13.0 sq mi
ZIP Area
1,916
Density / Sq Mi
$103,490
Median Household Income
$61,338
Median Earnings
$1,449
Median Rent
$333,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - The layout combines private offices, conference rooms, and warehouse space with a full kitchen.
Where is this flex space located?
The property is located at 1600 SW Market Street Lees Summit, MO.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 10,848 square feet on approximately 1.6 acres; Interior includes 17 private offices and 6 full bathrooms; Showroom, warehouse space, multiple conference rooms, full kitchen, and storage
