Crossroads/Westside Building For
For Sale
Contact for pricing
Pending
700 Southwest Boulevard, Kansas City, MO 64108
Rare opportunity in a prime location with highway access.
Property Size9,000 SF
Days on Market646
Property Features for 700 Southwest Boulevard
General Information
Standard status
Pending
Size
9,000 SF
Property subtype
Retail
Zoning
M1-5
Building Details
Year Built
1978
Stories
2
Listing Agency:
Boveri Realty Group LLC
(816) 333-4545
Listed By:
Christina Boveri · License #2004014710
Source:
Crexi
Added: Nov 12, 2024
Changed: Aug 16
Last Checked: Aug 14 at 5:59AM
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 Boveri Realty Group LLC
Investment Insights
Based on property information with market context.
Located in the Crossroads/Westside neighborhood, this 9,000 sq ft property presents a rare opportunity for ownership. The building, previously a restaurant, benefits from high visibility and convenient highway access. A large outdoor patio enhances its appeal. Situated across from La Bodega, the location is also near The Kauffman Performing Arts Center, over 50 galleries, and numerous lofts and condos. The property is zoned M1-5. The area is densely populated, with two high-rise apartment buildings adding 375 units. The location provides walking distance to the Performing Arts Center, Street Car, bars, restaurants, and over 40 art galleries. The neighborhood is known for its First Fridays events, attracting thousands to experience the arts and culture. Over $43 million is currently being invested to upgrade SW BLVD. The property is near two public parking lots under the bridge. The seller is willing to sell the 75x75 parking lot across the street, which would add 20 parking spaces.
Key Highlights
- Prime location in the Crossroads/Westside neighborhood with high visibility and easy highway access.
- Significant ongoing investment of over $43 million in Southwest Boulevard upgrades.
- Large outdoor patio** and potential to add 20 parking spaces with purchase of adjacent lot.
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
$84,649
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
6.27%
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%
$1,692,980
$1.7M
Cap Rate 7%
$1,209,271
$1.2M
Cap Rate 9%
$940,544
$940.5K
Market Conditions
NOI Build-Up for 9,000 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
$126.4K $14.04/SF
− Vacancy
−$5.4K −$0.60/SF
EGI
$120.9K $13.44/SF
− OpEx
−$36.3K −$4.03/SF
NOI
$84.6K $9.41/SF
Area
Kansas City, MO
Vacancy
4.30%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
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%
$1,692,980
Cap Rate 7%
$1,209,271
Cap Rate 9%
$940,544
Alternative Uses
Best Use
Retail
$1.21M
$1.06M – $1.41M
NOI $84,649 @ 7.0% cap · market cap 6.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.14M
$1.88M – $2.50M
NOI $150,060 @ 7.0% cap · market cap 11.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,165
Businesses Nearby
13k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 49%
Dining 47%
Home Improvements & Furnishings 4%
Cafe Gratitude
Dining
4,897 visits/mo
0.4 miles
Artist & Craftsman Supply
Shops & Services
3,449 visits/mo
0.4 miles
Sinclair
Shops & Services
3,060 visits/mo
0.2 miles
Taqueria Mexico
Dining
1,372 visits/mo
0.1 miles
PPG Paints
Home Improvements & Furnishings
476 visits/mo
0.5 miles
Demographics for 64108, MO
9,839
Population
6,141
Households
1.6
Avg Household Size
35
Median Age
51%
College-Educated
90%
High-School Grad
3.7 sq mi
ZIP Area
2,659
Density / Sq Mi
$74,462
Median Household Income
$53,521
Median Earnings
$1,422
Median Rent
$286,300
Median Home Value
Market
Vacancy Rate% for Retail in Kansas City, MO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Rare opportunity in a prime location with highway access.
Where is this storefront property located?
The property is located at 700 Southwest Boulevard Kansas City, MO.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Prime location in the Crossroads/Westside neighborhood with **high visibility and easy highway access.**; Significant ongoing investment of over $43 million in Southwest Boulevard upgrades.; Large outdoor patio** and potential to add 20 parking spaces with purchase of adjacent lot.
