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    8 8Th St Kansas City, MO 64106

    Sponsored
    For Sale
    $5,448,000

    Exceptional commercial land, ideal for high-density development.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This 17.4-acre commercial land parcel, located in Kansas City, Missouri's vibrant East Village, presents a unique investment opportunity. Situated at the intersection of 8th and Grand Streets, this property boasts prominent exposure on three intersections and encompasses nearly an entire city block. The land is zoned DC-15 (Downtown Core District), allowing for a wide range of high-density development options. Priced at $5,448,000, or $54,480 per square foot, this strategically located site is within blocks of the Power & Light District and the Kansas City Streetcar, offering unparalleled access to the city's amenities and attractions. The property's location is also proximate to other parcels currently for sale, and its size and zoning make it suitable for large-scale projects. The area is bordered by 8th Street, 12th Street, Cherry Street, and Charlotte Street, in Jackson County, zip code 64106. The site's potential is further enhanced by its proximity to potential future developments related to the Kansas City Royals and FIFA World Cup. This is a rare opportunity to acquire a significant land holding in a rapidly developing area of Kansas City.

    Property Features for 8 8Th St

    General Information

    Property type
    Land
    Lot Size
    757,944 SF

    HighLights

    • $5,448,000 asking price, 54,480 square feet.
    • Large site encompassing nearly a full city block, with triple‑intersection exposure.
    • Downtown Core District (DC‑15) zoning.
    • Prime location, close to the Power & Light District and the KC Streetcar.
    • Excellent proximity to downtown KC venues, including the KC Royals and potential FIFA World Cup events.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Kansas City
    County
    Jackson
    State
    Missouri
    Longitude
    -94.565025
    Latitude
    39.1039089

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    FAQs

    What type of property is this?
    Land - Exceptional commercial land, ideal for high-density development.
    Where is this land located?
    The property is located at 8 8Th St Kansas City, MO.
    What is the asking price?
    The asking price for this property is $5,448,000.
    What are key features of this property?
    This property features: $5,448,000 asking price, 54,480 square feet.; Large site encompassing nearly a full city block, with triple-intersection exposure.; Downtown Core District (DC-15) zoning.
    Request Owner's contact information
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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.

    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
    8 8Th St Kansas City, MO 64106
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