Brick Office Building with
For Sale
Contact for pricing
1619 Walnut St, Kansas City, MO 64108
Open-plan office property with polished concrete, exposed brick, natural light, and drive-in loading.
Property Size5,200 SF
Price / SF$307.69
Days on Market204
Property Features for 1619 Walnut St
General Information
Standard status
Active
Size
5,200 SF
Class
B
Property subtype
Office
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Asking Price
$1,600,000
Amenities
sky lights
drive-in loading with glass garage door
Building Details
Year Built
1920
Year Renovated
2002
Buildings
1
Stories
1
Building Size
5,200 SF
Listing Agency:
Newmark
Listed By:
John Hoefer · License #2015009603
(816) 268-4248
Source:
Crexi
Added: Feb 10
Changed: Aug 30
Last Checked: Sep 2 at 2:48AM
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 Newmark
Investment Insights
Based on property information with market context.
Built in 1920, this 5,200-square-foot office building offers a predominantly open interior finished with polished concrete floors, exposed brick, and a barrel truss ceiling. Two large skylights bring natural light into the workspace, while a drive-in loading area with a glass garage door opens onto Walnut Street. The roof is new and includes a transferable warranty.
Convenient parking is available for lease. The property is within walking distance of dozens of restaurants, hotels, and the KC Streetcar, adding nearby dining, lodging, and transit access to the office setting.
Convenient parking is available for lease. The property is within walking distance of dozens of restaurants, hotels, and the KC Streetcar, adding nearby dining, lodging, and transit access to the office setting.
Key Highlights
- 5,200‑square‑foot office building constructed in 1920
- Mostly open interior with polished concrete floors and exposed brick
- Barrel truss ceiling with two large skylights
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
$73,467
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
4.59%
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%
$1,469,340
$1.5M
Cap Rate 7%
$1,049,529
$1.0M
Cap Rate 9%
$816,300
$816.3K
Market Conditions
NOI Build-Up for 5,200 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
$117.3K $22.56/SF
− Vacancy
−$19.4K −$3.72/SF
EGI
$98.0K $18.84/SF
− OpEx
−$24.5K −$4.71/SF
NOI
$73.5K $14.13/SF
Area
Kansas City, MO
Vacancy
16.50%
Lease Rate
$22.56 /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%
$1,469,340
Cap Rate 7%
$1,049,529
Cap Rate 9%
$816,300
Alternative Uses
Best Use
Office B
$1.05M
$918.3K – $1.22M
NOI $73,467 @ 7.0% cap · market cap 4.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.08M – $1.45M
NOI $86,701 @ 7.0% cap · market cap 5.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
5,912
Businesses Nearby
Explore this area
Business Placement
Demographics for 64108, MO
9,839
Population
6,141
Households
1.6
Avg Household Size
35
Median Age
51%
College-Educated
90%
High-School Grad
3.7 sq mi
ZIP Area
2,659
Density / Sq Mi
$74,462
Median Household Income
$53,521
Median Earnings
$1,422
Median Rent
$286,300
Median Home Value
Market
Vacancy Rate% for Office in Kansas City, MO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Open-plan office property with polished concrete, exposed brick, natural light, and drive-in loading.
Where is this office building located?
The property is located at 1619 Walnut St Kansas City, MO.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 5,200‑square‑foot office building constructed in 1920; Mostly open interior with polished concrete floors and exposed brick; Barrel truss ceiling with two large skylights
