Freestanding Creative Space with
For Sale
Contact for pricing
200 West 74th Street, Kansas City, MO 64114
Freestanding creative/office building with dedicated loading space across from a 280-unit luxury multi-family project.
Property Size4,800 SF
Price / SF$166.67
Days on Market57
Property Features for 200 West 74th Street
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Retail
Zoning
M1-5
Building Details
Year Built
1935
Listing Agency:
CBRE - Kansas City
(816) 968-5831
Listed By:
Lindy Beyer · License #2013030502
Source:
Crexi
Added: Jun 17
Changed: Aug 11
Last Checked: Aug 11 at 4:27PM
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 CBRE - Kansas City
Investment Insights
Based on property information with market context.
This freestanding creative space is offered as a standalone 4,800 sf building. The property includes a loading area, providing practical access for deliveries and day-to-day operations.
Located in the Waldo area, the building sits across the street from The Oberon, which is described as a 280-unit luxury multi-family development scheduled for delivery later this year. The street-facing placement supports visibility and convenient access for customers and staff.
The building’s freestanding layout and loading area make it well-suited for creative users and other office-oriented operations that need direct access rather than a shared arrangement. It may also appeal to buyers looking for a self-contained facility in a neighborhood setting, with an existing residential presence directly across the street once The Oberon is delivered.
Located in the Waldo area, the building sits across the street from The Oberon, which is described as a 280-unit luxury multi-family development scheduled for delivery later this year. The street-facing placement supports visibility and convenient access for customers and staff.
The building’s freestanding layout and loading area make it well-suited for creative users and other office-oriented operations that need direct access rather than a shared arrangement. It may also appeal to buyers looking for a self-contained facility in a neighborhood setting, with an existing residential presence directly across the street once The Oberon is delivered.
Key Highlights
- Freestanding 4,800 SF building with dedicated loading area
- Year built: 1935
- Located in the Waldo area
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
$67,815
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
8.48%
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%
$1,356,300
$1.4M
Cap Rate 7%
$968,786
$968.8K
Cap Rate 9%
$753,500
$753.5K
Market Conditions
NOI Build-Up for 4,800 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
$108.3K $22.56/SF
− Vacancy
−$17.9K −$3.72/SF
EGI
$90.4K $18.84/SF
− OpEx
−$22.6K −$4.71/SF
NOI
$67.8K $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%
$1,356,300
Cap Rate 7%
$968,786
Cap Rate 9%
$753,500
Alternative Uses
Best Use
Office B
$968.8K
$847.7K – $1.13M
NOI $67,815 @ 7.0% cap · market cap 8.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.14M
$1.00M – $1.33M
NOI $80,032 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
872
Businesses Nearby
Explore this area
Business Placement
Demographics for 64114, MO
24,008
Population
13,463
Households
1.8
Avg Household Size
39
Median Age
56%
College-Educated
97%
High-School Grad
7.1 sq mi
ZIP Area
3,381
Density / Sq Mi
$77,643
Median Household Income
$53,965
Median Earnings
$1,304
Median Rent
$257,400
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?
Creative space - Freestanding creative/office building with dedicated loading space across from a 280-unit luxury multi-family project.
Where is this creative space located?
The property is located at 200 West 74th Street Kansas City, MO.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Freestanding 4,800 SF building with dedicated loading area; Year built: 1935; Located in the Waldo area
