Turn-Key Restaurant and Entertainment
For Sale
Contact for pricing
4940 NE 81st St, Kansas City, MO 64119
Turn-key restaurant and entertainment venue offered for sale with the option to convert to multi-tenant use.
Property Size13,860 SF
Price / SF$216.09
Days on Market160
Property Features for 4940 NE 81st St
General Information
Standard status
Active
Size
13,860 SF
Total Parking Spaces
80
Property subtype
Retail, Office, Business for Sale
Occupancy
100%
Additional Details
Business Included
Yes
Building Details
Year Built
2005
Stories
1
Tenancy
Single
Listing Agency:
Clemons Real Estate
Listed By:
Audrey Navarro · License #MO 2003023010
(913) 271-6929
Source:
Crexi
Added: Apr 1
Changed: Aug 16
Last Checked: Sep 7 at 12:47PM
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
Investment Insights
Based on property information with market context.
This for-sale restaurant and entertainment venue is presented as turn-key, offering an owner the ability to take over an operating concept with existing improvements in place. The property is being marketed as a successful business opportunity and also offers an alternative path for reuse.
The listing notes an opportunity to convert the site to a multi-tenant configuration. Additional details on layout, specific entertainment components, or current tenant mix are not provided in the available information.
Interested buyers should review the property’s current operating configuration and conversion plans during due diligence to confirm suitability for their intended use.
The listing notes an opportunity to convert the site to a multi-tenant configuration. Additional details on layout, specific entertainment components, or current tenant mix are not provided in the available information.
Interested buyers should review the property’s current operating configuration and conversion plans during due diligence to confirm suitability for their intended use.
Key Highlights
- Restaurant and entertainment venue built in 2005
- Offered as a turn‑key sale with restaurant/entertainment use
- Option to convert to multi‑tenant use
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
$140,254
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
4.68%
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%
$2,805,080
$2.8M
Cap Rate 7%
$2,003,629
$2.0M
Cap Rate 9%
$1,558,378
$1.6M
Market Conditions
NOI Build-Up for 13,860 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
$194.6K $14.04/SF
− Vacancy
−$7.6K −$0.55/SF
EGI
$187.0K $13.49/SF
− OpEx
−$46.8K −$3.37/SF
NOI
$140.3K $10.12/SF
Area
ZIP 64119
Vacancy
3.90%
Lease Rate
$14.04 /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%
$2,805,080
Cap Rate 7%
$2,003,629
Cap Rate 9%
$1,558,378
Alternative Uses
Best Use
Specialty Retail
$2.00M
$1.75M – $2.34M
NOI $140,254 @ 7.0% cap · market cap 4.68%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$10.34M
$9.05M – $12.07M
NOI $724,093 @ 7.0% cap · market cap 24.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
75
Businesses Nearby
22k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 72%
Dining 21%
Beauty & Spa 7%
Kansas City #5
Shops & Services
15,563 visits/mo
0.2 miles
Papa John's Pizza
Dining
2,508 visits/mo
0.1 miles
SUBWAY
Dining
2,000 visits/mo
0.2 miles
Great Clips
Beauty & Spa
1,536 visits/mo
0.2 miles
Demographics for 64119, MO
30,865
Population
13,515
Households
2.3
Avg Household Size
39
Median Age
32%
College-Educated
94%
High-School Grad
14.5 sq mi
ZIP Area
2,129
Density / Sq Mi
$79,871
Median Household Income
$45,801
Median Earnings
$1,259
Median Rent
$216,300
Median Home Value
Market
Vacancy Rate% for Retail in Kansas City, MO
Questions? Ask Rey
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Similar Off Market Nearby
- Brass Rail Sports Bar, Restaurant & Pool Hall — 4940 NE 81st St, Kansas City, MO 64119
Frequently Asked Questions
What type of property is this?
Bar & Pub - Turn-key restaurant and entertainment venue offered for sale with the option to convert to multi-tenant use.
Where is this bar & pub located?
The property is located at 4940 NE 81st St Kansas City, MO.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: Restaurant and entertainment venue built in 2005; Offered as a turn‑key sale with restaurant/entertainment use; Option to convert to multi‑tenant use
