Occupied Storefront
For Sale
$1,400,000
959 SE Oldham Parkway, Lees Summit, MO 64081
Commercial Sale, Lee's Summit, MO
Property Size5,800 SF
Lot Size0.59 Acres
Price / SF$241.38
Days on Market321
Property Features for 959 SE Oldham Parkway
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
049
Parking features
Parking Lot
Subdivision
Bridgehampton
Directions
From SE Route 291 and 50 Hwy. South on SE Route 291 and continue South on SE Hamblen Rd to SE Oldham Parkway, left on SE Oldham Parkway. East on SE Oldham Parkway, property is to the right before SE Bridgehampton Way.
Standard status
Active
APN
61-630-05-25-02-0-00-000
Lot size
0.59 Acres
Taxes and HOA fees
Tax Description
Lot 2, BRIDGEHAMPTON, 1ST PLAT, BLOCK 1, LOTS 1-3, a subdivision in Lee's Summit, Jackson Gounty, Missouri EXCEPT that part deeded to the City of Lee's Summit, as shown on Quit-Clalm Deed filed 03/02/1999 as Document No. 199910D17043., further described as follows: Commencing at the Southeast corner of said Lot 2, thence North 02 Degrees 06 Minutes 40 Seconds East 119.25 feet, along the West Right of Way of Bridgehampton Way, to the True Point of Beginning, thence North 54 Degrees 51 Minutes 54 Seconds West 89.45 feet, to a point on the North line of said Lot 2, thence South 87 Degrees 53 Minutes 20 Seconds East 75.00 feet, along said North line, thence South 02 Degrees 06 Minutes 40 Seconds West 48.75 feet, along the West Right of Way line of Bridgehampton Way to the True Point of Beginning
Tax Annual Amount
29125
Legal Description
Lot 2, BRIDGEHAMPTON, 1ST PLAT, BLOCK 1, LOTS 1-3, a subdivision in Lee's Summit, Jackson Gounty, Missouri EXCEPT that part deeded to the City of Lee's Summit, as shown on Quit-Clalm Deed filed 03/02/1999 as Document No. 199910D17043., further described as follows: Commencing at the Southeast corner of said Lot 2, thence North 02 Degrees 06 Minutes 40 Seconds East 119.25 feet, along the West Right of Way of Bridgehampton Way, to the True Point of Beginning, thence North 54 Degrees 51 Minutes 54 Seconds West 89.45 feet, to a point on the North line of said Lot 2, thence South 87 Degrees 53 Minutes 20 Seconds East 75.00 feet, along said North line, thence South 02 Degrees 06 Minutes 40 Seconds West 48.75 feet, along the West Right of Way line of Bridgehampton Way to the True Point of Beginning
Utilities
Utilities
Water Available
Building Details
Floors in Building
1
Listing Agency:
RE/MAX Heritage · RE/MAX International
(816) 587-2323
Listed By:
Chelbi Williamson
(816) 651-0999
Added: Nov 4, 2025
Changed: Aug 19
Last Checked: Sep 21 at 11:06PM
MLS# 2585251
Copyright © 2026 Heartland Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This occupied storefront property is located at 959 SE Oldham Parkway in Lee's Summit, Missouri. The retail building sits on a 0.59-acre lot and includes a parking lot and water availability. The exterior has been freshly painted, providing an updated presentation for continued commercial use. The property is currently occupied by a tenant and generates rental income for the owner. Located just off Highway 50, the site offers a direct connection to a designated regional highway. Zoning is identified as 049, and the property is within Jackson County.
Key Highlights
- Occupied storefront property generating rental income
- 0.59‑acre lot in Lee's Summit, MO
- Located just off Highway 50
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
$82,471
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
5.89%
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%
$1,649,420
$1.6M
Cap Rate 7%
$1,178,157
$1.2M
Cap Rate 9%
$916,344
$916.3K
Market Conditions
NOI Build-Up for 5,800 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
$128.8K $22.20/SF
− Vacancy
−$10.9K −$1.89/SF
EGI
$117.8K $20.31/SF
− OpEx
−$35.3K −$6.09/SF
NOI
$82.5K $14.22/SF
Area
Lees Summit, MO
Vacancy
8.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
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%
$1,649,420
Cap Rate 7%
$1,178,157
Cap Rate 9%
$916,344
Alternative Uses
Best Use
Retail
$1.18M
$1.03M – $1.37M
NOI $82,471 @ 7.0% cap · market cap 5.89%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.47M
$1.29M – $1.72M
NOI $103,043 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
581
Businesses Nearby
142k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 43%
Home Improvements & Furnishings 28%
Groceries 18%
Dining 8%
QuikTrip
Shops & Services
55,665 visits/mo
0.5 miles
The Home Depot
Home Improvements & Furnishings
40,308 visits/mo
0.4 miles
Aldi
Groceries
25,021 visits/mo
0.5 miles
Perkins Restaurant & Bakery
Dining
7,761 visits/mo
0.5 miles
LaMar's Donuts and Coffee
Dining
4,018 visits/mo
0.5 miles
Demographics for 64081, MO
24,903
Population
10,778
Households
2.3
Avg Household Size
43
Median Age
51%
College-Educated
98%
High-School Grad
13.0 sq mi
ZIP Area
1,916
Density / Sq Mi
$103,490
Median Household Income
$61,338
Median Earnings
$1,449
Median Rent
$333,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Occupied retail building with on-site parking, water availability, and access just off Highway 50.
Where is this storefront property located?
The property is located at 959 SE Oldham Parkway Lees Summit, MO.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Occupied storefront property generating rental income; 0.59‑acre lot in Lee's Summit, MO; Located just off Highway 50
