Renovated Multi-Story Office
201 E PARTRIDGE AVE, Independence, MO 64055
For Sale
Contact for pricing
Renovated office property combines leased occupancy with shell space and a Class A floor ready for occupancy.
Property Size15,626 SF
Lot Size1.26 Acres
Price / SF$166.39
Days on Market112
Property Features for 201 E PARTRIDGE AVE
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Occupancy
Lease Type
Site & Location
Neighborhood
Building Details
Year Built
Year Renovated
Buildings
Stories
Units
Tenancy
Parking Ratio
Listing Agency:
Haith & Company Realtors
Listed By:
Josh Haith · License MO #2011012354
(913) 888-3456
Source:
Crexi
Added: Jul 24
Changed: Nov 3
Last Checked: Nov 10 at 8:01AM
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 Haith & Company Realtors
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Investment Insights
Based on property information with market context.
This four-floor office building was constructed in 1986 and underwent extensive renovations completed in 2021. Each floor contains 7,575 SF, including common areas. The third floor is available for lease as shell space, while the fourth floor is finished to Class A office standards and ready for occupancy.
The property occupies a 1.26 +/- acre lot at 201 E Partridge Avenue in Independence, Missouri, with a parking ratio of 4.0 / 1,000. The building is 50% leased through January 31, 2027, providing an existing occupancy component alongside available office space.
The property occupies a 1.26 +/- acre lot at 201 E Partridge Avenue in Independence, Missouri, with a parking ratio of 4.0 / 1,000. The building is 50% leased through January 31, 2027, providing an existing occupancy component alongside available office space.
Key Highlights
- Four‑floor office building with 7,575 SF per floor, including common areas
- 1.26 +/- acre lot at 201 E Partridge Avenue, Independence, MO
- Extensive renovations completed in 2021; original construction dates to 1986
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$239,078
Cap Rate
9.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,781,560
$4.8M
Cap Rate 7%
$3,415,400
$3.4M
Cap Rate 9%
$2,656,422
$2.7M
Market Conditions
NOI Build-Up for 15,626 SF
Gross rent
$375.0K $24.00/SF
− Vacancy
−$56.3K −$3.60/SF
EGI
$318.8K $20.40/SF
− OpEx
−$79.7K −$5.10/SF
NOI
$239.1K $15.30/SF
Area
Independence, MO
Vacancy
15.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,781,560
Cap Rate 7%
$3,415,400
Cap Rate 9%
$2,656,422
Alternative Uses
Best Use
Office B
$3.42M
$2.99M – $3.98M
NOI $239,078 @ 7.0% cap · market cap 9.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.62M
$4.04M – $5.39M
NOI $323,271 @ 7.0% cap · market cap 12.43%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
278
Businesses Nearby
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Business Placement
Demographics for 64055, MO
36,225
Population
16,900
Households
2.1
Avg Household Size
44
Median Age
24%
College-Educated
93%
High-School Grad
12.5 sq mi
ZIP Area
2,898
Density / Sq Mi
$64,646
Median Household Income
$42,121
Median Earnings
$1,098
Median Rent
$173,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Office buildings in Jackson County
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Renovated office property combines leased occupancy with shell space and a Class A floor ready for occupancy.
Where is this office building located?
The property is located at 201 E PARTRIDGE AVE Independence, MO.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Four‑floor office building with 7,575 SF per floor, including common areas; 1.26 +/- acre lot at 201 E Partridge Avenue, Independence, MO; Extensive renovations completed in 2021; original construction dates to 1986
