2745 Cherry St Kansas City, MO 64108

Property Details for 2745 Cherry St

Property type

Commercial real estate

Description

This 3,147 sq ft lot at 2745 Cherry St., Kansas City, MO, presents a remarkable investment opportunity. Located in the desirable Longfellow neighborhood, this mixed-use property offers significant potential for development. The asking price is $110,000, translating to $35 per square foot. The property is zoned for hospitality, mixed-use, and retail uses, allowing for diverse development options. An existing garage with functional utilities offers flexibility for repurposing or demolition. Alley access provides convenient commercial setbacks. This location benefits from proximity to the new streetcar's 27th Street stop, enhancing accessibility. The Longfellow Neighborhood Association's active community involvement, including the Longfellow Farm, adds to the area's appeal. Furthermore, the property qualifies for up to 100% tax abatement for ten years through the LCRA Urban Renewal program, subject to application and plan approval. The strategic location near Hospital Hill (Children's Mercy, UMKC medical schools, and Truman Medical Center), the Jackson County Family Justice Center, Crown Center, Union Station, and the WWI Museum provides exceptional visibility and access to a diverse population. Nearby restaurants and established businesses further enhance the property's value and potential for attracting tenants or customers. This is a unique chance to capitalize on a prime location and substantial tax incentives in a thriving Kansas City neighborhood. The property is owned by an LLC.