Five-Unit Multifamily
For Sale
Contact for pricing
308 NW HIGHLAND LN, Blue Springs, MO 64014
Five-unit multifamily property offered for sale, suited for investors seeking residential rental housing.
Property Size5,600 SF
Price / SF$116.07
Days on Market71
Property Features for 308 NW HIGHLAND LN
General Information
Standard status
Active
Size
5,600 SF
Class
B
Property subtype
Multifamily
Additional Details
Multifamily Units
5
Building Details
Year Built
1985
Stories
1
Units
5
Listing Agency:
Zeal Property Advisors
Listed By:
Keiten Nuspl · License #2016008538
Source:
Crexi
Added: Jun 2
Changed: Aug 8
Last Checked: Jun 6 at 3:30AM
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 Zeal Property Advisors
Investment Insights
Based on property information with market context.
This offering is a multifamily property configured as five units. It is presented as a residential income asset with a total property size of 5,600.
The property is located at 308 NW Highland Ln in Blue Springs, Missouri 64014. The available materials identify the asset as a five-unit multifamily building and provide the listing timeframe noted in the public remarks.
For buyers evaluating residential rental ownership, the five-unit layout can offer straightforward portfolio management compared with larger complexes while still providing multiple income-producing units within one building. As with any income property purchase, prospective buyers should review unit-level details and financial performance during diligence, using the five-unit configuration as the primary basis for fit.
The property is located at 308 NW Highland Ln in Blue Springs, Missouri 64014. The available materials identify the asset as a five-unit multifamily building and provide the listing timeframe noted in the public remarks.
For buyers evaluating residential rental ownership, the five-unit layout can offer straightforward portfolio management compared with larger complexes while still providing multiple income-producing units within one building. As with any income property purchase, prospective buyers should review unit-level details and financial performance during diligence, using the five-unit configuration as the primary basis for fit.
Key Highlights
- Five‑unit multifamily property
- Built in 1985
- Offered for sale (multifamily 5 units, public remarks dated 01/22/2025)
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
$51,624
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
7.94%
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%
$1,032,480
$1.0M
Cap Rate 7%
$737,486
$737.5K
Cap Rate 9%
$573,600
$573.6K
Market Conditions
NOI Build-Up for 5,600 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
$101.5K $18.12/SF
− Vacancy
−$7.6K −$1.36/SF
EGI
$93.9K $16.76/SF
− OpEx
−$42.2K −$7.54/SF
NOI
$51.6K $9.22/SF
Area
Jackson County, MO
Vacancy
7.50%
Lease Rate
$18.12 /SF/Yr
Expense Ratio
45.00%
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%
$1,032,480
Cap Rate 7%
$737,486
Cap Rate 9%
$573,600
Alternative Uses
Best Use
Apartment 5plus
$737.5K
$645.3K – $860.4K
NOI $51,624 @ 7.0% cap · market cap 7.94%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.47M
$1.29M – $1.72M
NOI $103,099 @ 7.0% cap · market cap 15.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
889
Businesses Nearby
Explore this area
Business Placement
Demographics for 64014, MO
27,993
Population
11,068
Households
2.5
Avg Household Size
36
Median Age
36%
College-Educated
95%
High-School Grad
11.2 sq mi
ZIP Area
2,499
Density / Sq Mi
$84,187
Median Household Income
$49,462
Median Earnings
$1,301
Median Rent
$233,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit multifamily property offered for sale, suited for investors seeking residential rental housing.
Where is this apartment building located?
The property is located at 308 NW HIGHLAND LN Blue Springs, MO.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Five‑unit multifamily property; Built in 1985; Offered for sale (multifamily 5 units, public remarks dated 01/22/2025)
