Leased Medical Office
For Sale
Contact for pricing
5711 Northwest 64th Terrace, Kansas City, MO 64151
Fully leased 3,240 SF medical office condo within a condominium association, offered for sale.
Property Size3,240 SF
Price / SF$193.25
Days on Market57
Property Features for 5711 Northwest 64th Terrace
General Information
Standard status
Active
Size
3,240 SF
Property subtype
Office
Zoning
OC
Occupancy
100%
Lease Type
Modified Gross
Building Details
Year Built
1986
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Lane4 Property Group
(816) 960-1444
Listed By:
Spencer Stewart · License #KS 00248759
Source:
Crexi
Added: Jun 17
Changed: Aug 8
Last Checked: Aug 11 at 6:37PM
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 Lane4 Property Group
Investment Insights
Based on property information with market context.
This offering is a 3,240 SF medical office condo that is currently fully leased. The property is part of the Picture Hills Condominium Association, and it is presented as a condo investment opportunity.
The condo is located at 5711 Northwest 64th Terrace in Kansas City, Missouri 64151. The asset sits in Platte County, and is governed through the condominium association that manages the property’s shared components.
For buyers or operators seeking a turn-key medical office condo with existing tenancy, the fully leased status provides immediate occupancy as part of the Picture Hills Condominium Association framework. Buyers should review the association materials and lease terms during due diligence, including any rules and responsibilities that apply to condo owners. For medical practices or related professionals considering ownership, this format can offer the benefits of a dedicated condo ownership structure while remaining within an established condominium community.
The condo is located at 5711 Northwest 64th Terrace in Kansas City, Missouri 64151. The asset sits in Platte County, and is governed through the condominium association that manages the property’s shared components.
For buyers or operators seeking a turn-key medical office condo with existing tenancy, the fully leased status provides immediate occupancy as part of the Picture Hills Condominium Association framework. Buyers should review the association materials and lease terms during due diligence, including any rules and responsibilities that apply to condo owners. For medical practices or related professionals considering ownership, this format can offer the benefits of a dedicated condo ownership structure while remaining within an established condominium community.
Key Highlights
- 3,240 SF fully leased medical office condo
- Year built: 1986
- Condo is part of the Picture Hills Condominium Association
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
$45,775
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
7.31%
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%
$915,500
$915.5K
Cap Rate 7%
$653,929
$653.9K
Cap Rate 9%
$508,611
$508.6K
Market Conditions
NOI Build-Up for 3,240 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
$73.1K $22.56/SF
− Vacancy
−$12.1K −$3.72/SF
EGI
$61.0K $18.84/SF
− OpEx
−$15.3K −$4.71/SF
NOI
$45.8K $14.13/SF
Area
Kansas City, MO
Vacancy
16.50%
Lease Rate
$22.56 /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%
$915,500
Cap Rate 7%
$653,929
Cap Rate 9%
$508,611
Alternative Uses
Best Use
Office B
$653.9K
$572.2K – $762.9K
NOI $45,775 @ 7.0% cap · market cap 7.31%
Second Best
Healthcare Medical
$613.2K
$536.6K – $715.4K
NOI $42,924 @ 7.0% cap · market cap 6.86%
Theoretical Best
Office A
$771.7K
$675.3K – $900.4K
NOI $54,021 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
51
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 64151, MO
28,779
Population
12,452
Households
2.3
Avg Household Size
38
Median Age
42%
College-Educated
97%
High-School Grad
13.1 sq mi
ZIP Area
2,197
Density / Sq Mi
$91,348
Median Household Income
$50,069
Median Earnings
$1,333
Median Rent
$292,500
Median Home Value
Market
Vacancy Rate% for Office in Kansas City, MO
Questions? Ask Rey
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Similar Off Market Nearby
- Northland Cat Clinic — 6224 N Chatham Ave, Kansas City, MO 64151
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- Sarah Sims, DVM — 6519 N Cosby Ave, Kansas City, MO 64151
Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully leased 3,240 SF medical office condo within a condominium association, offered for sale.
Where is this medical office space located?
The property is located at 5711 Northwest 64th Terrace Kansas City, MO.
What is the asking price?
The asking price for this property is $626,144.
What are key features of this property?
This property features: 3,240 SF fully leased medical office condo; Year built: 1986; Condo is part of the Picture Hills Condominium Association
