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    Last Retail Spaces at Neighborhood Shops Title is generated by Realmo AI

    2988-2984 Gillham Rd/2920 McGee Trafficway, Kansas City, MO 64108

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    Limited availability in a well-lit, walkable retail district with wide sidewalks and landscaping.

    Type:Retail
    Added:
    Jun 1, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 3 at 2:53 am

    Property Features for 2988-2984 Gillham Rd/2920 McGee Trafficway

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Building Details

    Year Built
    2016

    We can help!

    Listing Contact
    Audrey Navarro
    Audrey Navarro

    Listing agent Audrey Navarro License #2003023010

    Listing office Clemons Real Estate

    Listing date Jun 1, 2026

    Source Clemonsrealestate

    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 Clemons Real Estate

    HighLights

    • Last 4 spaces available at The Union Hill Shops
    • 2016 year built
    • Well‑lit, walkable retail district with wide sidewalks and landscaping
    • 1,800 homes within walking distance

    Overview

    The Union Hill Shops offers a storefront retail opportunity with the last four spaces currently available. The center is presented as a well-lit, pedestrian-friendly district with wide sidewalks and landscaped grounds, designed to support an active retail streetscape.

    Set within the Union Hill submarket of Metro KC, the property benefits from strong local demand indicators, including top daytime population rankings across a 3- and 5-mile radius, and second-best ranking within 1 mile. The area includes an average Union Hill resident income of $115,000 and is described as walkable to approximately 1,800 nearby homes. Nearby hospitality activity also supports the flow of visitors, with the Union Hill Fairfield Inn averaging 4,000 guests per month.

    The current leasing mix is positioned for tenants seeking a retail or service presence, with examples including The Union on the Hill Restaurant and Elevate Salon Suites. With its emphasis on visibility and foot traffic, these remaining suites are well suited for operators that align with the center’s active neighborhood retail environment and benefit from a walkable customer base.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Hair Salon Dental Office Nail Salon Building Supply Daycare Center Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Crown Center — 2450 Grand Blvd Suite 200, Kansas City, MO 64108
    • Crown Center Shops — 2450 Grand Blvd, Kansas City, MO 64108
    • KC Soul Pantry — 1327 E 28th St, Kansas City, MO 64109
    • Coin Cloud Bitcoin ATM — 922 e linwood blvd, independence, mo 64052

    Location Insight

    • Map
    • Local Demand
    City
    Kansas City
    County
    Platte
    State
    Missouri
    Longitude
    -94.5782911
    Latitude
    39.0727088

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    FAQs

    What type of property is this?
    Shopping center - Limited availability in a well-lit, walkable retail district with wide sidewalks and landscaping.
    Where is this shopping center located?
    The property is located at 2988-2984 Gillham Rd/2920 McGee Trafficway Kansas City, MO.
    What are key features of this property?
    This property features: Last 4 spaces available at The Union Hill Shops; 2016 year built; Well‑lit, walkable retail district with wide sidewalks and landscaping
    (913) 271-6929
    We can help!
    Listing Contact
    Audrey Navarro
    Audrey Navarro
    Real Estate License ID: 2003023010
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    2988-2984 Gillham Rd/2920 McGee Trafficway, Kansas City, MO 64108
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