Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1916-2002 Armour Rd North Kansas City, MO 64116
    Back to Search
    Property profile & analytics

    1916-2002 Armour Rd, North Kansas City, MO 64116

    View on Map
    • Retail properties & Spaces
    • 7,130 SF
    • 0.74 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 1916-2002 Armour Rd

    Year built
    1938
    Lot size
    0.74 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This exceptional redevelopment opportunity presents two buildings totaling 7,130 square feet on a 0.74-acre lot in North Kansas City, Missouri. Located at 1916-2002 Armour Road, this property boasts a prime location with high visibility off I-29 and MO Highway 210, near North Kansas City Hospital and a thriving medical office park. The existing structures offer approximately 3,240 square feet at 1916 Armour Road and approximately 3,890 square feet at 2002 Armour Road, presenting immediate income potential and significant long-term redevelopment upside. The property is zoned C-3, allowing for a variety of uses. Surrounded by established businesses including McDonald's, Subway, Arby's, Denny's, Old Chicago, Starbucks, Burger King, and La Quinta Inn, this location ensures high traffic and strong consumer presence. Built in 1938, this property offers a unique blend of history and potential, making it an ideal investment for those seeking a high-return opportunity in a rapidly growing area. The asking price is $1,150,000, translating to $161.29 per square foot. This is a rare chance to acquire a substantial property in a desirable location with significant upside potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    North Kansas City
    County
    Clay
    State
    Missouri
    Longitude
    -94.5575
    Latitude
    39.1461

    Comparable in this City

    • Value Estimation by Request
      7,708 SF

      1561 Swift St

      Restaurants
      1561 Swift St, North Kansas City, MO 64116
      View Details
    • Value Estimation by Request
      9,976 SF

      Kansas City Italian Restaurant For Sale With $4.2 Million In Sales!!

      Restaurants
      0 Kansas City Italian Restaurant For Sale With $4.2 Million In Sales!!, Kansas City, MO 64116
      View Details
    • Value Estimation by Request
      2,600 SF

      / Liquor License Earning $107K

      Restaurants
      0 / Liquor License Earning $107K, Kansas City, MO 64116
      View Details
    • Value Estimation by Request
      6,100 SF

      1825-1827 Buchanan St

      Restaurants
      1825-1827 Buchanan St, North Kansas City, MO 64116
      View Details
    • Value Estimation by Request
      5,447 SF

      4175A Mulberry Dr

      Restaurants
      4175A Mulberry Dr, Kansas City, MO 64116
      View Details
    • Value Estimation by Request
      42,187 SF

      32Nd Ave

      Office Spaces
      0 32Nd Ave, Kansas City, MO 64116
      View Details

    Similar Nearby for Sale

    • $1,700,000
      0.20 Acres

      Commercial Building in North Kansas

      Two-unit commercial building with outdoor patio and mezzanine level.
      1825-1827 Buchanan St, Kansas City, MO 64116
      View Details
    • $995,000
      7.43 Acres

      Development Land in Kansas City

      7.43 acres for multifamily development near I-29 & I-35.
      1409 NE Russell Rd, Kansas City, MO 64116
      View Details
    • Contact for pricing

      Freestanding Building on North Oak

      Freestanding commercial building for sale on North Oak Trafficway.
      4370 N Oak Trfy, Kansas City, MO 64116
      View Details
    • Contact for pricing

      Commercial Land in Kansas City

      Land suitable for residential, restaurant, retail, office, or flex space.
      25 NE 85Th Ter, Kansas City, MO 64116
      View Details
    • Contact for pricing
      4,092 SF

      Industrial Flex Space For Sale

      Industrial/Flex space with highway frontage and fenced yard.
      1202 Burlington St, Kansas City, MO 64116
      View Details
    • Contact for pricing

      North Kansas City Land Opportunity

      3.89 acres in booming North Kansas City development area.
      1437 Gentry St, Kansas City, MO 64116
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,600 SF

      Freestanding Building on Swift Street

      6,600 SF building ideal for restaurant or entertainment venue.
      2021 Swift Ave, Kansas City, MO 64116
      View Details
    • Contact for pricing
      5,380 SF

      Restaurant and Retail Space Available

      Restaurant and retail space with covered patio and open-air event.
      119 Armour Rd, Kansas City, MO 64116
      View Details
    • $336 /Mo
      6,802 SF

      Prime NKC Medical Office Space

      6,802 SF Medical Office For Lease
      2025 Swift Ave, North Kansas City, MO 64116
      View Details
    • Contact for pricing

      Retail Space in High-Traffic Center

      Shopping center with restaurant spaces available in North Kansas City.
      2320 Armour Rd, North Kansas City, MO 64116
      View Details
    • Contact for pricing
      4,300 SF

      Swift Avenue Retail/Restaurant Space

      Retail or restaurant space with high visibility and new apartments.
      1729-1731 Swift Ave, Kansas City, MO 64116
      View Details
    • Contact for pricing
      1,575 SF

      Retail Space in Growing Community

      Retail space in walkable community near apartments and high school.
      305 Armour Rd, Kansas City, MO 64116
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1916-2002 Armour Rd
    North Kansas City, MO 64116
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1916-2002 Armour Rd, North Kansas City, MO, 64116
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!