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    3015 Cherry St Kansas City, MO 64108

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    For Sale
    Contact for pricing

    Prime Union Hill location, 6,250 SF, $1.2M

    Property Features for 3015 Cherry St

    General Information

    Property type
    Office space

    We can help!

    Listing Contact
    Reagan O'Toole
    Reagan O'Toole

    Listing Agency: Colliers - Kansas City, Missouri Listing Agent: Reagan O'Toole

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional 6,250 square foot creative office building presents a unique investment opportunity in Kansas City's vibrant Union Hill neighborhood. The property boasts a versatile layout ideal for a multitude of uses, including an event center or photography studio. A key feature is the included cyc wall, perfect for professional photography or filming. The building also offers an outdoor courtyard, providing ample space that can be utilized as private parking. Its prime location offers easy access to a wealth of entertainment options, retail establishments, and major employment centers, ensuring high visibility and convenient access for both employees and clients. The asking price for this remarkable property is $1,200,000. This represents a significant opportunity to acquire a well-situated, multi-functional building in a thriving Kansas City neighborhood. The property is located at 3015 Cherry Street, Kansas City, Missouri, 64108. This address places the building within easy reach of a variety of amenities and transportation options, making it an attractive proposition for a wide range of potential buyers. The flexible design and prime location make this an ideal investment for those seeking a high-return property in a rapidly developing area.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Law Firm Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Kansas City
    County
    Jackson
    State
    Missouri
    Longitude
    -94.5774033
    Latitude
    39.0714647

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    FAQs

    What type of property is this?
    Office space - Prime Union Hill location, 6,250 SF, $1.2M
    Where is this office space located?
    The property is located at 3015 Cherry St Kansas City, MO.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: 6,250± SF creative office building.; Multi-purpose building ideal for events or photography (includes cyc wall).; Outdoor courtyard usable as private parking.
    (816) 556-1120 Call to check price and availability
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    3015 Cherry 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
    3015 Cherry St Kansas City, MO 64108
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Reagan O'Toole
    Reagan O'Toole
    Real Estate License ID: 00238370
    (816) 556-1120 (630) 464-4147 (816) 531-5303
    Learn more
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