Two-Story Office
For Sale
Contact for pricing
3215 NE Carnegie Dr, Lees Summit, MO 64064
Class B property offers elevator service, basement garage parking, and a substantial on-site parking supply.
Property Size12,320 SF
Price / SF$250
Days on Market190
Property Features for 3215 NE Carnegie Dr
General Information
Standard status
Active
Size
12,320 SF
Class
Class B
Total Parking Spaces
49
Elevators
Yes
Property subtype
OFFICE
Additional Details
Furnished
Yes
Building Details
Year Built
2005
Buildings
1
Stories
2
Listing Agency:
Block & Company, Inc.
(816) 753-6000
Listed By:
Bill Maas, CCIM · License #MO2010028352
(816) 412-7392
Source:
Moodyscre
Added: Feb 24
Changed: Aug 31
Last Checked: Sep 1 at 10:27PM
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 Block & Company, Inc.
Investment Insights
Based on property information with market context.
This Class B office building provides two levels of above-grade workspace along with a basement garage. Each floor plate measures 6,160 square feet, creating a total property size of 12,320 square feet. An elevator serves the building, and the property includes 49 parking spaces for occupants and visitors. Constructed in 2005, the office is located at 3215 NE Carnegie Dr in Lee’s Summit, Missouri. The combination of dedicated parking, vertical circulation, and basement garage space supports a practical office configuration for professional users seeking a freestanding commercial building.
Key Highlights
- 12,320‑square‑foot office building with 6,160 SF floor plates
- Two‑story configuration with basement garage
- Class B office property built in 2005
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
$130,229
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
4.23%
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%
$2,604,580
$2.6M
Cap Rate 7%
$1,860,414
$1.9M
Cap Rate 9%
$1,446,989
$1.4M
Market Conditions
NOI Build-Up for 12,320 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
$214.4K $17.40/SF
− Vacancy
−$40.7K −$3.31/SF
EGI
$173.6K $14.09/SF
− OpEx
−$43.4K −$3.52/SF
NOI
$130.2K $10.57/SF
Area
Lees Summit, MO
Vacancy
19.00%
Lease Rate
$17.40 /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%
$2,604,580
Cap Rate 7%
$1,860,414
Cap Rate 9%
$1,446,989
Alternative Uses
Best Use
Office B
$1.86M
$1.63M – $2.17M
NOI $130,229 @ 7.0% cap · market cap 4.23%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.13M
$2.74M – $3.65M
NOI $218,877 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
447
Businesses Nearby
Explore this area
Business Placement
Demographics for 64064, MO
19,717
Population
7,870
Households
2.5
Avg Household Size
41
Median Age
53%
College-Educated
98%
High-School Grad
19.0 sq mi
ZIP Area
1,038
Density / Sq Mi
$120,341
Median Household Income
$62,190
Median Earnings
$1,416
Median Rent
$375,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Class B property offers elevator service, basement garage parking, and a substantial on-site parking supply.
Where is this office building located?
The property is located at 3215 NE Carnegie Dr Lees Summit, MO.
What is the asking price?
The asking price for this property is $3,080,000.
What are key features of this property?
This property features: 12,320‑square‑foot office building with 6,160 SF floor plates; Two‑story configuration with basement garage; Class B office property built in 2005
