Flex Space with Training
New
For Sale
$425,000
409 W Pine Street, Raymore, MO 64083
Commercial Sale, Raymore, MO
Property Size3,698 SF
Lot Size0.42 Acres
Price / SF$114.93
Days on Market7
Property Features for 409 W Pine Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COM
Parking
12
Parking features
Parking Lot
Interior features
Private Restroom, Public Restroom
Directions
From 71 Hwy/I-49 & 58 Hwy, East on 58 Hwy to Pine St, West to property on South side of street.
Subdivision
208 - Cass County, Mo
Standard status
Active
APN
2268100
Lot size
0.42 Acres
Taxes and HOA fees
Tax Description
KEENLAND COMMERCIAL CENTER TRACT 1
Tax Annual Amount
5817
Legal Description
KEENLAND COMMERCIAL CENTER TRACT 1
Utilities
Utilities
Water Available
Amenities
large open training floor
multiple bathrooms
changing rooms with benches
private offices
reception area
extensive storage
paved parking lot
Building Details
Year built
1974
Floors in Building
1
Listing Agency:
Keller Williams Southland · Keller Williams Realty
(816) 331-2323
Listed By:
SNP REAL ESTATE GROUP
(816) 301-7805
Added: Aug 19
Last Checked: Aug 25 at 7:06PM
MLS# 2637663
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 3,698-square-foot flex property was built in 1974 and offers a broad interior configuration for adaptable commercial use. The building includes an open training floor, reception area, private offices, multiple bathrooms, changing rooms with benches, and extensive storage. Interior restroom facilities include both private and public restrooms.
A paved parking lot serves the building, while water is available at the property. COM zoning is in place. The existing layout and improvements are suited to fitness, dance, sports, retail, or office applications, with the property offered in its current condition.
A paved parking lot serves the building, while water is available at the property. COM zoning is in place. The existing layout and improvements are suited to fitness, dance, sports, retail, or office applications, with the property offered in its current condition.
Key Highlights
- 3,698‑square‑foot commercial building on 0.422 acres
- Large open training floor with changing rooms and benches
- Multiple bathrooms, including private and public restrooms
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
$21,876
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
5.15%
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%
$437,520
$437.5K
Cap Rate 7%
$312,514
$312.5K
Cap Rate 9%
$243,067
$243.1K
Market Conditions
NOI Build-Up for 3,698 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
$33.3K $9.00/SF
− Vacancy
−$2.0K −$0.55/SF
EGI
$31.3K $8.45/SF
− OpEx
−$9.4K −$2.54/SF
NOI
$21.9K $5.92/SF
Area
Cass County, MO
Vacancy
6.10%
Lease Rate
$9.00 /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%
$437,520
Cap Rate 7%
$312,514
Cap Rate 9%
$243,067
Alternative Uses
Best Use
Industrial
$312.5K
$273.5K – $364.6K
NOI $21,876 @ 7.0% cap · market cap 5.15%
Second Best
Flex RnD
$293.6K
$256.9K – $342.5K
NOI $20,552 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$833.8K
$729.5K – $972.7K
NOI $58,363 @ 7.0% cap · market cap 13.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
400
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 64083, MO
24,945
Population
10,058
Households
2.5
Avg Household Size
40
Median Age
37%
College-Educated
95%
High-School Grad
25.7 sq mi
ZIP Area
971
Density / Sq Mi
$99,575
Median Household Income
$53,042
Median Earnings
$1,262
Median Rent
$316,100
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Watts Smoking BBQ — 606 E Walnut St, Raymore, MO 64083
- Matthew's Catering — 407 W Pine St, Raymore, MO 64083
- Russo's Shenanigans — 423 Sunflower Dr, Raymore, MO 64083
Frequently Asked Questions
What type of property is this?
Flex space - Open interior includes offices, reception, changing areas, bathrooms, and substantial storage.
Where is this flex space located?
The property is located at 409 W Pine Street Raymore, MO.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 3,698‑square‑foot commercial building on 0.422 acres; Large open training floor with changing rooms and benches; Multiple bathrooms, including private and public restrooms
