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    4210 45Th St Kansas City, MO 64130

    Sponsored
    For Sale
    Contact for pricing

    Multiple Schools, Adaptive Reuse Opportunity

    Property size:
    46,851 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    407
    This exceptional portfolio presents a unique investment opportunity encompassing three former Kansas City Public Schools: Meservey, Pershing, Scarritt, King/Weeks, and Askew Elementary. These properties offer significant adaptive reuse potential, ideal for developers seeking infill projects. The portfolio includes three distinct locations, each with unique characteristics and potential. One property, located at 5915 Park Ave, Kansas City, MO 64130, boasts approximately 46,851 square feet on 3.56 acres, featuring a four-story building constructed between 1924 and 1953. It's situated in the Blue Hills neighborhood and zoned R-6. Another property at 4210 E 45th St, Kansas City, MO 64130, comprises approximately 64,900 square feet on 3.8 acres, housed in a four-story building constructed between 1928 and 1956. This property is located in the Vineyard neighborhood and zoned R-2.5. Finally, the property at 2630 Topping Ave, Kansas City, MO 64129, offers approximately 58,190 square feet on 3.86 acres, with a three-story building constructed between 1923 and 1968. This property is in the Blue Valley neighborhood and is zoned R-2.5. All three properties closed in 2009 or 2010 and are eligible for historical designation. Each building includes key features such as auditoriums, gymnasiums, cafeterias, and elevators. The properties present a compelling opportunity for creative redevelopment, capitalizing on their existing infrastructure and prime locations within Kansas City. The offer deadline has been extended.

    Property Features for 4210 45Th St

    General Information

    Property type
    Schools
    Square Feet
    46,851 SF
    Lot Size
    155,074 SF

    Building Details

    Stories
    11

    We can help!

    Listing Contact
    Aaron Mesmer
    Aaron Mesmer

    Learn more

    Property Insight Report

    HighLights

    • 5915 Park Avenue, Kansas City, MO 64130: 46,851 SF available on 3.56± acres. Adaptive reuse/infill opportunity. Built 1924‑1953, closed 2009. R‑6 zoning, Blue Hills neighborhood. Four‑story building with auditorium, gymnasium, cafeteria, elevator, and potential historical designation & Opportunity Zone benefits.
    • 4210 East 45th Street, Kansas City, MO 64130: 64,900 SF available on 3.8± acres. Adaptive reuse/infill opportunity. Built 1928‑1956, closed 2009. R‑2.5 zoning, Vineyard neighborhood. Four‑story building with auditorium, gymnasium, cafeteria, and elevator; potential historical designation.
    • 2630 Topping, Kansas City, MO 64127: 58,190 SF available on 3.86± acres. Adaptive reuse/infill opportunity. Built 1923‑1968, closed 2010. R‑2.5 zoning, Blue Valley neighborhood. Three‑story building with classrooms, auditorium, gymnasium, cafeteria, elevator, and potential historical designation.
    Property Profile Location Intelligence

    Current Use by Public Records

    Schools

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Kansas City
    County
    Jackson
    State
    Missouri
    Longitude
    -94.5353111
    Latitude
    39.0443893

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    FAQs

    What type of property is this?
    School - Multiple Schools, Adaptive Reuse Opportunity
    Where is this school located?
    The property is located at 4210 45Th St Kansas City, MO.
    What are key features of this property?
    This property features: 5915 Park Avenue, Kansas City, MO 64130: 46,851 SF available on 3.56± acres. Adaptive reuse/infill opportunity. Built 1924-1953, closed 2009. R-6 zoning, Blue Hills neighborhood. Four-story building with auditorium, gymnasium, cafeteria, elevator, and potential historical designation & Opportunity Zone benefits.; 4210 East 45th Street, Kansas City, MO 64130: 64,900 SF available on 3.8± acres. Adaptive reuse/infill opportunity. Built 1928-1956, closed 2009. R-2.5 zoning, Vineyard neighborhood. Four-story building with auditorium, gymnasium, cafeteria, and elevator; potential historical designation.; 2630 Topping, Kansas City, MO 64127: 58,190 SF available on 3.86± acres. Adaptive reuse/infill opportunity. Built 1923-1968, closed 2010. R-2.5 zoning, Blue Valley neighborhood. Three-story building with classrooms, auditorium, gymnasium, cafeteria, elevator, and potential historical designation.
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    4210 45Th St Kansas City, MO 64130
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    We can help!
    Listing Contact
    Aaron Mesmer
    Aaron Mesmer
    Real Estate License ID: MO 2003018426
    Learn more
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