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    The Largest CRE Database in the US with Over 1 Million Listings

    1617 Main St Kansas City, MO 64108

    Sponsored
    For Lease
    $20 SF/Yr

    4,000 SF 3rd Floor Office, Available Now

    Lot size:
    18,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    421
    This exceptional 4,000 square foot creative office space is located on the third floor of a historic building at 1617 Main Street in Kansas City, Missouri. The building, constructed in 1927, offers a unique blend of character and modern functionality. This single-tenant space boasts a 12-foot ceiling height, providing ample room for creative design and flexible layouts. The space is ideal for creative or professional service businesses seeking a vibrant and inspiring work environment. The layout includes a mix of private offices and open collaborative areas, catering to diverse team needs. Located in the heart of downtown Kansas City, this property benefits from excellent accessibility and proximity to numerous amenities. The building itself comprises 18,000 total square feet across three stories. The property is zoned C3A2 and its Jackson County APN is 29-230-35-06-00-0-00-000. The lease rate is $20.75 per square foot, plus utilities and janitorial services. This is a fantastic opportunity to secure a prime location in a thriving urban setting. The zip code is 64108. Don't miss this chance to establish your business in this desirable Kansas City address.

    Property Features for 1617 Main St

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    18,000 SF
    Total Rate
    31125

    Building Details

    Year Built
    1927
    Buildings
    1
    Stories
    3

    Spaces For Lease

    at 1617 Main St, Kansas City, MO 64108 Contact us
    Unit

    $20 /Mo

    Size
    4,000 SF
    Contact us

    We can help!

    Listing Contact
    John Hoefer

    Learn more

    Property Insight Report

    HighLights

    • 4,000 SF creative office space on the 3rd floor of a historic building at 1617 Main Street, Kansas City, MO 64108.
    • 12‑foot ceilings, private offices & open collaborative areas.
    • Located on the KC Streetcar line.
    • First‑floor restaurant & steps from numerous shops and restaurants.
    • Ample surface parking available at $100/month per space.
    Property Profile Location Intelligence

    Current Use by Public Records

    Next Move Healthcare Employment Agency Lula Southern Cookhouse Restaurant Wayne Vollmer Construction General Contractor Neighborly Corporate Office

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Big Box & Wholesale Store Dental Office Auto Repair Shop Hair Salon Nail Salon Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Kansas City
    County
    Jackson
    State
    Missouri
    Longitude
    -94.583541298013
    Latitude
    39.093770487144

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    FAQs

    What type of property is this?
    Office space - 4,000 SF 3rd Floor Office, Available Now
    Where is this office space located?
    The property is located at 1617 Main St Kansas City, MO.
    What is the lease rate?
    The lease rate is $20 SF/Yr.
    What are key features of this property?
    This property features: 4,000 SF creative office space on the 3rd floor of a historic building at 1617 Main Street, Kansas City, MO 64108.; 12-foot ceilings, private offices & open collaborative areas.; Located on the KC Streetcar line.
    Request Owner's contact information
    1617 Main St Kansas City, MO 64108
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    Kansas City, MO 64108
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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
    1617 Main St Kansas City, MO 64108
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