Retro Mixed-Use Redevelopment
5012 State Ave, Kansas City, KS 66102
For Sale
$2,530,000
Three-story mixed-use building with retail, residential, and office spaces.
Property Size16,647 SF
Lot Size72,658.00 Acres
Price / SF$151.98
Days on Market648
Property Features for 5012 State Ave
General Information
Standard status
Size
Lot size
Site & Location
Neighborhood
Taxes and HOA fees
Annual Taxes
Listing Agency:
Select Sites LLC
(816) 916-8400
Listed By:
Susan Scott · License KS HMS413595334
(816) 668-7276
Source:
Exprealty
Added: Feb 1, 2025
Changed: Aug 8
Last Checked: Aug 21 at 8:21AM
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 Select Sites LLC
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Investment Insights
Based on property information with market context.
This well-maintained 3-story retro mixed-use masonry block building provides versatile space on a 72,658 square foot site. The property is located along a major roadway and offers potential to meet neighborhood retail and residential needs, presenting value-add opportunities for redevelopment or repositioning. The main level features 16,647 square feet, divisible into multiple retail storefronts, including a 5,900 square foot full-service restaurant space with 14-foot clear heights, suitable for retail and service establishments. Space is available for lease upon request. The upper level comprises 14,607 square feet with 31 studio-style residential units and 2 office spaces, offering housing and workspace solutions with 12-foot clear heights. The rear garden level provides 6,286 square feet suitable for office, quasi-retail, or storage uses. The building is elevator-served and situated on a well-traveled avenue, providing substantial visibility for businesses. It offers direct access to I-635, I-70, and I-435 for regional travel. The location is in an area with increasing investment and development, positioning it as a growth focal point. It is suitable for investors or owner-users to capitalize on its flexibility and potential.
Key Highlights
- High‑visibility location on a major roadway with direct access to I‑635, I‑70, and I‑435.
- Substantial value‑add opportunities for redevelopment or repositioning in a growing area of KCK.
- Versatile mixed‑use building with retail, residential (31 studio units), and office spaces.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$165,629
Cap Rate
6.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,312,580
$3.3M
Cap Rate 7%
$2,366,129
$2.4M
Cap Rate 9%
$1,840,322
$1.8M
Market Conditions
NOI Build-Up for 16,647 SF
Gross rent
$299.6K $18.00/SF
− Vacancy
−$78.8K −$4.73/SF
EGI
$220.8K $13.27/SF
− OpEx
−$55.2K −$3.32/SF
NOI
$165.6K $9.95/SF
Area
Kansas City, KS
Vacancy
26.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,312,580
Cap Rate 7%
$2,366,129
Cap Rate 9%
$1,840,322
Alternative Uses
Best Use
Office B
$2.37M
$2.07M – $2.76M
NOI $165,629 @ 7.0% cap · market cap 6.55%
Second Best
Retail
$2.30M
$2.01M – $2.68M
NOI $160,922 @ 7.0% cap · market cap 6.36%
Theoretical Best
Office A
$2.76M
$2.41M – $3.22M
NOI $193,055 @ 7.0% cap · market cap 7.63%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
273
Businesses Nearby
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Business Placement
Demographics for 66102, KS
30,730
Population
11,481
Households
2.7
Avg Household Size
31
Median Age
12%
College-Educated
71%
High-School Grad
11.5 sq mi
ZIP Area
2,672
Density / Sq Mi
$52,218
Median Household Income
$31,913
Median Earnings
$1,020
Median Rent
$105,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story mixed-use building with retail, residential, and office spaces.
Where is this mixed-use property located?
The property is located at 5012 State Ave Kansas City, KS.
What is the asking price?
The asking price for this property is $2,530,000.
What are key features of this property?
This property features: High‑visibility location on a major roadway with direct access to I‑635, I‑70, and I‑435.; Substantial value‑add opportunities for redevelopment or repositioning in a growing area of KCK.; Versatile mixed‑use building with retail, residential (31 studio units), and office spaces.
