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    208 Pearl St Harrisonville, MO 64701

    Sponsored
    For Sale
    $500,000

    Former Jail, 11,000 sq ft, Film Ready

    Property size:
    11,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    408
    This unique 11,000 square foot, two-story former jail in Harrisonville, Missouri, presents a compelling investment opportunity. Located just 45 minutes from downtown Kansas City, this 34-cell facility sits on a half-acre lot and offers 15 parking spaces. The property boasts 20-foot ceilings and includes multiple cell blocks, a visitation area with original booths and phones, offices, restrooms, a break room, and ample storage. Recent renovations include new single-phase electric shutoff, roof repairs, bathroom and kitchen upgrades, plumbing and lighting repairs, extensive cleaning, painting, and door replacements. Currently vacant, the property is zoned CBD-2, allowing for multiple uses, and the city is actively assisting with zoning changes to facilitate uses such as a film studio. The property's history and unique features make it ideal for filming (Missouri offers film tax credits), a unique entertainment venue, retail space, or office space. The asking price is $500,000. The property is also available for lease at $10,000 per month (minimum one-year lease). This versatile property offers significant potential for a creative investor.

    Property Features for 208 Pearl St

    General Information

    Property type
    Specialty properties
    Square Feet
    11,000 SF
    Lot Size
    21,780 SF

    Building Details

    Stories
    2
    Units
    34

    We can help!

    Listing Contact
    Celine Truong
    Celine Truong

    Learn more

    Property Insight Report

    HighLights

    • Unique 11,000 SF, two‑story former jail in Harrisonville, MO.
    • Located 45 minutes from downtown Kansas City, on a half‑acre lot with 15 parking spaces.
    • Features 20‑foot ceilings, multiple cell blocks, visitation area, offices, restrooms, break room, and ample storage.
    • Recently renovated with new electrical, roof repairs, bathroom/kitchen upgrades, plumbing/lighting repairs, and extensive cleaning/painting.
    • Currently vacant, zoned CBD‑2, with city assistance for zoning changes (e.g., film studio).
    • Asking price: $500,000; Lease: $10,000/month (minimum one‑year lease).
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Harrisonville
    County
    Cass
    State
    Missouri
    Longitude
    -94.3498496
    Latitude
    38.6551095

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    FAQs

    What type of property is this?
    Specialty property - Former Jail, 11,000 sq ft, Film Ready
    Where is this specialty property located?
    The property is located at 208 Pearl St Harrisonville, MO.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: Unique 11,000 SF, two-story former jail in Harrisonville, MO.; Located 45 minutes from downtown Kansas City, on a half-acre lot with 15 parking spaces.; Features 20-foot ceilings, multiple cell blocks, visitation area, offices, restrooms, break room, and ample storage.
    (650) 298-2282
    Request Owner's contact information
    208 Pearl St Harrisonville, MO 64701
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    Harrisonville, MO 64701
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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
    208 Pearl St Harrisonville, MO 64701
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    We can help!
    Listing Contact
    Celine Truong
    Celine Truong
    Real Estate License ID: CA 01295196
    (650) 298-2282
    Learn more
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