Two-Building Triplex
For Sale
Contact for pricing
3612-3616 Bell St, Kansas City, MO 64111
Newer multifamily asset with upscale finishes, private balconies, covered parking, and dedicated laundry in every residence.
Property Size7,776 SF
Price / SF$173.61
Days on Market11
Property Features for 3612-3616 Bell St
General Information
Standard status
Active
Size
7,776 SF
Class
A
Total Parking Spaces
14
Property subtype
Multifamily
Zoning
R-2.5
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$73,204
Building Details
Year Built
2015
Buildings
2
Units
6
Tenancy
Multi
Listing Agency:
RE/MAX LEGACY
(816) 994-9900
Listed By:
Sally Burns · License #MO 2016043038
Source:
Crexi
Added: Aug 20
Changed: Aug 30
Last Checked: Aug 30 at 5:37AM
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 RE/MAX LEGACY
Investment Insights
Based on property information with market context.
This multifamily property consists of two triplex buildings completed in 2015, totaling six residences and 7,776 square feet. Each home offers two bedrooms, two full bathrooms, an open kitchen and living area, a private balcony, individual secured storage, and two covered parking spaces. Interior features include hardwood and tile flooring, granite countertops, stainless steel appliances, and a dedicated laundry room with a washer and dryer.
The property is located in Kansas City's Volker neighborhood, a short distance from the University of Kansas Medical Center and the 39th Street District's shops, restaurants, and nightlife. Downtown Kansas City, the Crossroads Arts District, the Country Club Plaza, and major highway access are also within minutes. The property carries R-2.5 zoning.
The property is located in Kansas City's Volker neighborhood, a short distance from the University of Kansas Medical Center and the 39th Street District's shops, restaurants, and nightlife. Downtown Kansas City, the Crossroads Arts District, the Country Club Plaza, and major highway access are also within minutes. The property carries R-2.5 zoning.
Key Highlights
- Six units across two triplex buildings, totaling 7,776 square feet
- Built in 2015 with R‑2.5 zoning
- Each unit includes 2 bedrooms and 2 full baths
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
$90,707
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
6.72%
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%
$1,814,140
$1.8M
Cap Rate 7%
$1,295,814
$1.3M
Cap Rate 9%
$1,007,856
$1.0M
Market Conditions
NOI Build-Up for 7,776 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
$138.1K $17.76/SF
− Vacancy
−$8.5K −$1.10/SF
EGI
$129.6K $16.66/SF
− OpEx
−$38.9K −$5.00/SF
NOI
$90.7K $11.66/SF
Area
Kansas City, MO
Vacancy
6.17%
Lease Rate
$17.76 /SF/Yr
Expense Ratio
30.00%
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%
$1,814,140
Cap Rate 7%
$1,295,814
Cap Rate 9%
$1,007,856
Alternative Uses
Best Use
Multifamily LT 5
$1.30M
$1.13M – $1.51M
NOI $90,707 @ 7.0% cap · market cap 6.72%
Second Best
Apartment 5plus
$1.19M
$1.04M – $1.39M
NOI $83,495 @ 7.0% cap · market cap 6.18%
Theoretical Best
Office A
$1.85M
$1.62M – $2.16M
NOI $129,651 @ 7.0% cap · market cap 9.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,042
Businesses Nearby
Explore this area
Business Placement
Demographics for 64111, MO
17,112
Population
12,430
Households
1.4
Avg Household Size
33
Median Age
64%
College-Educated
96%
High-School Grad
2.7 sq mi
ZIP Area
6,338
Density / Sq Mi
$61,802
Median Household Income
$49,942
Median Earnings
$1,184
Median Rent
$269,500
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?
Triplex - Newer multifamily asset with upscale finishes, private balconies, covered parking, and dedicated laundry in every residence.
Where is this triplex located?
The property is located at 3612-3616 Bell St Kansas City, MO.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Six units across two triplex buildings, totaling 7,776 square feet; Built in 2015 with R‑2.5 zoning; Each unit includes 2 bedrooms and 2 full baths
