Building Details

Year Built 1949

Listing Agency: Reece Commercial

Listed By: Jim Thome · License #KS Show Phone

Source: Crexi

Added: Jul 29 Changed: Sep 21 Last Checked: Sep 21 at 4:37AM

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Investment Insights

Based on property information with market context.

This auto shop contains 2,909 square feet and was built in 1949. The property is designated C-2, supporting its classification as an automotive-oriented commercial asset.

Located at 1829 Burlington St in North Kansas City, Missouri 64116, the property offers an established commercial address for automotive operations. The recorded parcel description identifies portions of Block 28 within the North Kansas City Development Company First Plat.

Key Highlights

• 2,909‑square‑foot auto shop
• Built in 1949
• C‑2 zoning

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

$27,589

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

3.91%

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%

$551,780 $551.8K

Cap Rate 7%

$394,129 $394.1K

Cap Rate 9%

$306,544 $306.5K

Market Conditions

NOI Build-Up for 2,909 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

$40.8K $14.04/SF

− Vacancy

−$1.4K −$0.49/SF

EGI

$39.4K $13.55/SF

− OpEx

−$11.8K −$4.06/SF

NOI

$27.6K $9.48/SF

Area

Clay County, MO

Vacancy

3.50%

Lease Rate

$14.04 /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%

$551,780

Cap Rate 7%

$394,129

Cap Rate 9%

$306,544

Alternative Uses

Best Use

Retail

$394.1K

$344.9K – $459.8K (±1% cap)

NOI $27,589 @ 7.0% cap · market cap 3.91%

Second Best

Industrial

$161.6K

$141.4K – $188.6K (±1% cap)

NOI $11,315 @ 7.0% cap · market cap 1.60%

Theoretical Best

Office A

$890.7K

$779.3K – $1.04M (±1% cap)

NOI $62,346 @ 7.0% cap · market cap 8.83%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Auto shops

Suggested Use

Top Pick Garden Center Parking Lot & Garage (Bike/Boat/Book/etc) Store Veterinary Clinic Bakery Pet Grooming Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,264

Businesses Nearby

77k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 67% Dining 31% Beauty & Spa 2%

QuikTrip Shops & Services

44,746 visits/mo 0.5 miles

SONIC Drive In Dining

9,294 visits/mo 0.4 miles

First Watch Dining

8,605 visits/mo 0.3 miles

Dollar General Shops & Services

5,762 visits/mo 0.2 miles

Scooter's Coffee Dining

5,650 visits/mo 0.5 miles

Demographics for 64116, MO

17,670

Population

9,691

Households

1.8

Avg Household Size

38

Median Age

41%

College-Educated

94%

High-School Grad

10.8 sq mi

ZIP Area

1,636

Density / Sq Mi

$63,352

Median Household Income

$42,653

Median Earnings

$1,252

Median Rent

$226,600

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this auto shops located? What is the asking price? Find similar properties What are key features of this property?

Similar Off Market Nearby

• CARSTAR North Kansas City — 1233 Burlington St, Kansas City, MO 64116
• Carstar — 4949 1233 get directions, burlington st, north kansas city, mo 64116
• NTA Fleetserve-Northtown Alignment — 1247 Swift St, North Kansas City, MO 64116
• PPG Auto Glass — 509 E 13th Ave, Kansas City, MO 64116
• PGW Auto Glass — 509 E 13th Ave, North Kansas City, MO 64116

Frequently Asked Questions

What type of property is this?

Auto shop - Built in 1949, the property provides a dedicated automotive facility in a C-2 commercial setting.

Where is this auto shop located?

The property is located at 1829 Burlington St North Kansas City, MO.

What is the asking price?

The asking price for this property is $705,870.

What are key features of this property?

This property features: 2,909‑square‑foot auto shop; Built in 1949; C‑2 zoning