Multi-Story Self Storage
For Sale
$3,500,000
2431 Prospect Avenue, Kansas City, MO 64127
Commercial Sale, Kansas City, MO
Property Size39,600 SF
Lot Size0.15 Acres
Price / SF$88.38
Days on Market391
Property Features for 2431 Prospect Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B3-2
Parking features
Parking Lot, On Street
Interior features
Elevator, Storage
Exterior features
Delivery Door(s)
Accessibility
Accessible Elevator Installed
Subdivision
Prospect View
Directions
I-670 / I-70 to Prospect. South to address.
Standard status
Active
APN
28-430-09-16-00-0-000
Lot size
0.15 Acres
Taxes and HOA fees
Tax Description
Prospect View E 121' of Lots 18 & 19 Blk 4
Tax Annual Amount
6400
Legal Description
Prospect View E 121' of Lots 18 & 19 Blk 4
Utilities
Utilities
Water Available
Building Details
Year built
1912
Floors in Building
6
Additional Structures
Storage
Listing Agency:
D M F & Associates LLC
(816) 361-0606
Listed By:
Donna Fowler · License #1999015818
(816) 520-1053
Added: Sep 11, 2025
Changed: Sep 2
Last Checked: Oct 6 at 3:06PM
MLS# 2574992
Copyright © 2026 Heartland Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 39,600-square-foot self-storage facility occupies a six-story brick building constructed in 1912. The interior includes storage areas, tall ceilings, and open floor areas, supported by an elevator and an accessible elevator installation. Delivery doors provide functional loading access for the existing configuration.
The property is located at 2431 Prospect Avenue in Kansas City, Missouri, with convenient access to major roadways. Parking is provided through an on-site lot and on-street spaces. The sale also includes five surrounding lots at 2425 Prospect, 2429 Prospect, 2605 E 24 Ter, 2609 E 24 Ter, and 2612 E 24 Ter. Zoning is B3-2, and water is available.
The property is located at 2431 Prospect Avenue in Kansas City, Missouri, with convenient access to major roadways. Parking is provided through an on-site lot and on-street spaces. The sale also includes five surrounding lots at 2425 Prospect, 2429 Prospect, 2605 E 24 Ter, 2609 E 24 Ter, and 2612 E 24 Ter. Zoning is B3-2, and water is available.
Key Highlights
- 39,600 sq ft, six‑story brick building constructed in 1912
- Currently configured for self‑storage and warehouse use
- Elevator installed, including accessible elevator service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$316,815
Cap Rate
9.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,336,300
$6.3M
Cap Rate 7%
$4,525,929
$4.5M
Cap Rate 9%
$3,520,167
$3.5M
Market Conditions
NOI Build-Up for 39,600 SF
Gross rent
$394.4K $9.96/SF
− Vacancy
−$21.7K −$0.55/SF
EGI
$372.7K $9.41/SF
− OpEx
−$55.9K −$1.41/SF
NOI
$316.8K $8.00/SF
Area
Kansas City, MO
Vacancy
5.50%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,336,300
Cap Rate 7%
$4,525,929
Cap Rate 9%
$3,520,167
Alternative Uses
Best Use
Self Storage
$5.58M
$4.89M – $6.51M
NOI $390,852 @ 7.0% cap · market cap 11.17%
Second Best
Warehouse
$4.53M
$3.96M – $5.28M
NOI $316,815 @ 7.0% cap · market cap 9.05%
Theoretical Best
Office A
$9.43M
$8.25M – $11.00M
NOI $660,262 @ 7.0% cap · market cap 18.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
468
Businesses Nearby
Explore this area
Business Placement
Demographics for 64127, MO
17,191
Population
8,884
Households
1.9
Avg Household Size
34
Median Age
7%
College-Educated
72%
High-School Grad
4.2 sq mi
ZIP Area
4,093
Density / Sq Mi
$32,179
Median Household Income
$29,382
Median Earnings
$886
Median Rent
$59,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Kansas City, MO
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Frequently Asked Questions
What type of property is this?
Self storage facility - B3-2-zoned commercial property with elevator service, storage areas, delivery access, and water availability.
Where is this self storage facility located?
The property is located at 2431 Prospect Avenue Kansas City, MO.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 39,600 sq ft, six‑story brick building constructed in 1912; Currently configured for self‑storage and warehouse use; Elevator installed, including accessible elevator service
