Flex Space with Drive-In
New
For Sale
Contact for pricing
207 Southeast 16th Street Terrace, Lees Summit, MO 64081
Two buildings occupy a fenced industrial property with access to Route 291 and Highway 50.
Property Size5,070 SF
Lot Size1.04 Acres
Price / SF$147.93
Days on Market5
Property Features for 207 Southeast 16th Street Terrace
General Information
Standard status
Active
Size
5,070 SF
Lot size
1.04 Acres
Property subtype
Retail, Industrial
Zoning
PI
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Additional Details
Drive-In Doors
5
Amenities
5 Drive-In Loading Doors
Building Details
Buildings
2
Listing Agency:
Block Real Estate Services, LL
Listed By:
Christel Highland
(816) 410-9584
Source:
Crexi
Added: Sep 21
Changed: Sep 24
Last Checked: Sep 24 at 1:54PM
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 Block Real Estate Services, LL
Investment Insights
Based on property information with market context.
The flex property comprises two buildings with a combined 5,070 square feet. The 1.04-acre site is fenced and includes five drive-in loading doors. Equipment may be included in a sale.
Key Highlights
- Two buildings totaling 5,070 SF
- 1.04‑acre fenced parcel
- Five drive‑in loading doors
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
$58,528
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
7.80%
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%
$1,170,560
$1.2M
Cap Rate 7%
$836,114
$836.1K
Cap Rate 9%
$650,311
$650.3K
Market Conditions
NOI Build-Up for 5,070 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
$97.3K $19.20/SF
− Vacancy
−$7.3K −$1.44/SF
EGI
$90.0K $17.76/SF
− OpEx
−$31.5K −$6.22/SF
NOI
$58.5K $11.54/SF
Area
Lees Summit, MO
Vacancy
7.50%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
35.00%
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%
$1,170,560
Cap Rate 7%
$836,114
Cap Rate 9%
$650,311
Alternative Uses
Best Use
Retail
$1.03M
$901.1K – $1.20M
NOI $72,091 @ 7.0% cap · market cap 9.61%
Second Best
Flex RnD
$836.1K
$731.6K – $975.5K
NOI $58,528 @ 7.0% cap · market cap 7.80%
Theoretical Best
Specialty Retail
$1.29M
$1.13M – $1.50M
NOI $90,074 @ 7.0% cap · market cap 12.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
5
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
339
Businesses Nearby
Well-served
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two buildings occupy a fenced industrial property with access to Route 291 and Highway 50.
Where is this flex space located?
The property is located at 207 Southeast 16th Street Terrace Lees Summit, MO.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Two buildings totaling 5,070 SF; 1.04‑acre fenced parcel; Five drive‑in loading doors
