3-Bay Flex Building with Paint
New
For Sale
$599,000
949 26th St, Kansas City, KS 66106
M-3-zoned corner property with office, storage, and automotive improvements.
Property Size5,760 SF
Price / SF$103.99
Days on Market6
Property Features for 949 26th St
General Information
Standard status
Active
Size
5,760 SF
Zoning
M-3
Additional Details
Drive-In Doors
3
Service Bays
3
Amenities
Auto paint booth
Building Details
Buildings
1
Building Size
5,760 SF
Listing Agency:
Keller Williams Realty Partners Inc.
(913) 998-4098
Listed By:
Marcela Egea · License #SP00234003
Source:
Stoneandstory
Added: Aug 25
Changed: Aug 29
Last Checked: Aug 28 at 12:01PM
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 Keller Williams Realty Partners Inc.
Investment Insights
Based on property information with market context.
This 5760sq ft flex building occupies a corner lot and includes three oversized garage-door bays, an auto paint booth, storage areas, and office space. The property has an established automotive repair history and is configured for practical service and workspace functions.
M-3 zoning supports the property’s industrial positioning. The building can accommodate storage, warehouse, or office use, with the existing bay layout and automotive improvements providing additional flexibility. An adjoining property is also being offered separately, creating a potential path to expand the overall site and parking area.
M-3 zoning supports the property’s industrial positioning. The building can accommodate storage, warehouse, or office use, with the existing bay layout and automotive improvements providing additional flexibility. An adjoining property is also being offered separately, creating a potential path to expand the overall site and parking area.
Key Highlights
- 5760sq ft flex building on a corner lot
- Three large garage‑door bays
- Existing auto paint booth
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
$41,783
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
6.98%
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%
$835,660
$835.7K
Cap Rate 7%
$596,900
$596.9K
Cap Rate 9%
$464,256
$464.3K
Market Conditions
NOI Build-Up for 5,760 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
$69.1K $12.00/SF
− Vacancy
−$4.8K −$0.84/SF
EGI
$64.3K $11.16/SF
− OpEx
−$22.5K −$3.91/SF
NOI
$41.8K $7.25/SF
Area
Kansas City, KS
Vacancy
7.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
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%
$835,660
Cap Rate 7%
$596,900
Cap Rate 9%
$464,256
Alternative Uses
Best Use
Retail
$795.4K
$696.0K – $928.0K
NOI $55,680 @ 7.0% cap · market cap 9.30%
Second Best
Flex RnD
$596.9K
$522.3K – $696.4K
NOI $41,783 @ 7.0% cap · market cap 6.98%
Theoretical Best
Office A
$954.3K
$835.0K – $1.11M
NOI $66,799 @ 7.0% cap · market cap 11.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Drive-in doors
3
Service bays
Location Intelligence
Trade Area within ½ mile
258
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 66106, KS
24,085
Population
9,226
Households
2.6
Avg Household Size
35
Median Age
16%
College-Educated
84%
High-School Grad
18.9 sq mi
ZIP Area
1,274
Density / Sq Mi
$56,294
Median Household Income
$39,734
Median Earnings
$944
Median Rent
$154,500
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - M-3-zoned corner property with office, storage, and automotive improvements.
Where is this flex space located?
The property is located at 949 26th St Kansas City, KS.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 5760sq ft flex building on a corner lot; Three large garage‑door bays; Existing auto paint booth
