Renovated Office Building in
For Sale
Contact for pricing
926 Cherry St, Kansas City, MO 64106
Move-in ready office building in Kansas City's government district.
Property Size7,500 SF
Price / SF$213.33
Days on Market188
Property Features for 926 Cherry St
General Information
Standard status
Active
Size
7,500 SF
Class
A
Property subtype
Office
Investment Type
Owner/User
Building Details
Buildings
1
Stories
1
Listing Agency:
Waterford Property Company LLC
Listed By:
Joe O'Connor · License #SP00250369
Source:
Crexi
Added: Feb 13
Changed: Aug 12
Last Checked: Aug 17 at 8:13AM
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 Waterford Property Company LLC
Investment Insights
Based on property information with market context.
The property at 926 Cherry Street is a 7,500 square foot office building located in Downtown Kansas City's government and legal district. The building has been fully renovated and is move-in ready. It features modern finishes, on-site parking, and energy-efficient building systems. The property is situated approximately one and a half blocks from the U.S. Federal Courthouse and three blocks from the Jackson County Courthouse, offering a location convenient to government and legal services.
Key Highlights
- Fully renovated, move‑in ready 7,500 SF office building.
- Prime location in Downtown Kansas City's government and legal district.
- Turnkey headquarters environment with modern finishes.
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
$105,962
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
6.62%
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%
$2,119,240
$2.1M
Cap Rate 7%
$1,513,743
$1.5M
Cap Rate 9%
$1,177,356
$1.2M
Market Conditions
NOI Build-Up for 7,500 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
$169.2K $22.56/SF
− Vacancy
−$27.9K −$3.72/SF
EGI
$141.3K $18.84/SF
− OpEx
−$35.3K −$4.71/SF
NOI
$106.0K $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%
$2,119,240
Cap Rate 7%
$1,513,743
Cap Rate 9%
$1,177,356
Alternative Uses
Best Use
Office B
$1.51M
$1.32M – $1.77M
NOI $105,962 @ 7.0% cap · market cap 6.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.79M
$1.56M – $2.08M
NOI $125,050 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,313
Businesses Nearby
Explore this area
Business Placement
Demographics for 64106, MO
10,017
Population
5,998
Households
1.7
Avg Household Size
31
Median Age
46%
College-Educated
91%
High-School Grad
1.6 sq mi
ZIP Area
6,261
Density / Sq Mi
$57,680
Median Household Income
$45,060
Median Earnings
$1,188
Median Rent
$220,900
Median Home Value
Market
Vacancy Rate% for Office in Kansas City, MO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Move-in ready office building in Kansas City's government district.
Where is this office building located?
The property is located at 926 Cherry St Kansas City, MO.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Fully renovated, move‑in ready 7,500 SF office building.; Prime location in Downtown Kansas City's government and legal district.; Turnkey headquarters environment with modern finishes.
