Creative Studio
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For Sale
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215 West 19 Street, Kansas City, MO 64108
Production infrastructure and rooftop outdoor space complement office and conference areas.
Property Size12,500 SF
Price / SF$400
Days on Market6
Property Features for 215 West 19 Street
General Information
Standard status
Active
Size
12,500 SF
Property subtype
Office
Amenities
cyclorama walls
drive-in doors
kitchen
rooftop patio
Building Details
Buildings
1
Stories
3
Building Size
12,500 SF
Listing Agency:
Newmark
Listed By:
John Hoefer · License #2015009603
(816) 268-4248
Source:
Crexi
Added: Sep 21
Changed: Sep 25
Last Checked: Sep 24 at 2:29PM
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 Newmark
Investment Insights
Based on property information with market context.
The three-floor creative property contains ±12,500 SF of space, with production and studio infrastructure alongside open office areas and private offices or conference rooms. Two cyclorama walls and drive-in doors are part of the existing buildout. Penthouse space adds a kitchen, full bathroom, and rooftop patio.
The property is in the Crossroads, within walking distance of dozens of restaurants and hotels.
The property is in the Crossroads, within walking distance of dozens of restaurants and hotels.
Key Highlights
- ±12,500 SF across 3 floors
- Production and studio infrastructure includes two cyclorama walls
- Drive‑in 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
$176,603
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
3.53%
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%
$3,532,060
$3.5M
Cap Rate 7%
$2,522,900
$2.5M
Cap Rate 9%
$1,962,256
$2.0M
Market Conditions
NOI Build-Up for 12,500 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
$282.0K $22.56/SF
− Vacancy
−$46.5K −$3.72/SF
EGI
$235.5K $18.84/SF
− OpEx
−$58.9K −$4.71/SF
NOI
$176.6K $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%
$3,532,060
Cap Rate 7%
$2,522,900
Cap Rate 9%
$1,962,256
Alternative Uses
Best Use
Office B
$2.52M
$2.21M – $2.94M
NOI $176,603 @ 7.0% cap · market cap 3.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.98M
$2.61M – $3.47M
NOI $208,416 @ 7.0% cap · market cap 4.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
412
Businesses Nearby
Explore this area
Business Placement
Demographics for 64108, MO
9,839
Population
6,141
Households
1.6
Avg Household Size
35
Median Age
51%
College-Educated
90%
High-School Grad
3.7 sq mi
ZIP Area
2,659
Density / Sq Mi
$74,462
Median Household Income
$53,521
Median Earnings
$1,422
Median Rent
$286,300
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 - Production infrastructure and rooftop outdoor space complement office and conference areas.
Where is this creative space located?
The property is located at 215 West 19 Street Kansas City, MO.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: ±12,500 SF across 3 floors; Production and studio infrastructure includes two cyclorama walls; Drive‑in doors
