Freestanding Restaurant with
For Sale
$750,000
2117 S 34th St, Kansas City, KS 66104
C1-zoned property includes patio seating, a commercial kitchen, and on-site parking.
Property Size3,073 SF
Lot Size0.47 Acres
Price / SF$244.06
Days on Market29
Property Features for 2117 S 34th St
General Information
Standard status
Active
Size
3,073 SF
Lot size
0.47 Acres
Site & Location
Frontage
145 ft
Road Access
Yes
Restaurant
Commercial Hood
Yes
Grease Trap
Yes
Patio
Yes
Equipment Included
Yes
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$11,621
Building Details
Buildings
1
Listing Agency:
ReeceNichols - Overland Park
(408) 529-6933
Listed By:
Joshua Do · License #00244850
(408) 529-6933
Source:
Exprealty
Added: Jul 27
Changed: Aug 23
Last Checked: Aug 22 at 5:45PM
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 ReeceNichols - Overland Park
Investment Insights
Based on property information with market context.
This freestanding restaurant property at 2117 S 34th Street in Kansas City, Kansas, contains a 3,073-square-foot building on approximately 0.47 acres. Built in 1965, the facility has second-generation restaurant improvements, including dining space, patio seating with built-in tables, a service counter, restrooms, commercial kitchen areas, preparation and storage rooms, and parking on the premises.
Food-service infrastructure includes a commercial exhaust hood, deep fryers, grease trap, walk-in refrigerator and freezer, stacked convection ovens, dish machine, stainless-steel worktables, and a built-in smoker or pit beneath its own hood. The property has approximately 145 feet of frontage along South 34th Street and is zoned C1, providing an existing restaurant configuration for continued food-service use.
Food-service infrastructure includes a commercial exhaust hood, deep fryers, grease trap, walk-in refrigerator and freezer, stacked convection ovens, dish machine, stainless-steel worktables, and a built-in smoker or pit beneath its own hood. The property has approximately 145 feet of frontage along South 34th Street and is zoned C1, providing an existing restaurant configuration for continued food-service use.
Key Highlights
- 3,073‑square‑foot restaurant building on approximately 0.47 acres
- Approximately 145 feet of frontage along South 34th Street
- Second‑generation restaurant layout with dining room, patio, kitchen, storage, service counter, and restrooms
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
$31,828
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
4.24%
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%
$636,560
$636.6K
Cap Rate 7%
$454,686
$454.7K
Cap Rate 9%
$353,644
$353.6K
Market Conditions
NOI Build-Up for 3,073 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
$44.3K $14.40/SF
− Vacancy
−$1.8K −$0.59/SF
EGI
$42.4K $13.81/SF
− OpEx
−$10.6K −$3.45/SF
NOI
$31.8K $10.36/SF
Area
Kansas City, KS
Vacancy
4.10%
Lease Rate
$14.40 /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%
$636,560
Cap Rate 7%
$454,686
Cap Rate 9%
$353,644
Alternative Uses
Best Use
Specialty Retail
$454.7K
$397.9K – $530.5K
NOI $31,828 @ 7.0% cap · market cap 4.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$509.1K
$445.5K – $594.0K
NOI $35,638 @ 7.0% cap · market cap 4.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Commercial hood
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
123
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 66104, KS
27,509
Population
11,088
Households
2.5
Avg Household Size
34
Median Age
12%
College-Educated
79%
High-School Grad
16.2 sq mi
ZIP Area
1,698
Density / Sq Mi
$56,745
Median Household Income
$32,325
Median Earnings
$996
Median Rent
$117,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - C1-zoned property includes patio seating, a commercial kitchen, and on-site parking.
Where is this conventional restaurant located?
The property is located at 2117 S 34th St Kansas City, KS.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 3,073‑square‑foot restaurant building on approximately 0.47 acres; Approximately 145 feet of frontage along South 34th Street; Second‑generation restaurant layout with dining room, patio, kitchen, storage, service counter, and restrooms
