5001 Independence Ave Kansas City, MO 64124
- Schools
- 13,918 SF
Current Use by Public Records
- Gathering Table inside Children's Memorial Lutheran / Religious Institution
- Children's Memorial Lutheran Church - Food Distribution Center / Food Bank
Property Details for 5001 Independence Ave
- Year built
- 1981
- Property size
- 13,918 SF
- Property type
- Schools
- Property subtype
- Churches & religious facilities
Description
This exceptional investment opportunity presents a 13,918 square foot multi-use property located at 5001 Independence Ave, Kansas City, Missouri, 64124. The property comprises two buildings, each two stories high, constructed in 1981, situated on a 0.38-acre lot. Currently vacant, this Class B property offers significant value-add potential. The existing layout includes a church space and seven office units, providing flexibility for a variety of uses including religious organizations, office rentals, multifamily housing, or senior living facilities. The asking price is $500,000, translating to $35.92 per square foot. The property boasts a projected pro-forma NOI of $73,881, resulting in a 14.78% pro-forma cap rate. Benefiting from its location in an Opportunity Zone, this property is eligible for various city grants and incentives, including Community Improvement District (CID) sales tax and Tax Increment Financing (TIF) programs, designed to further enhance the return on investment. The B3-2/ICO zoning permits a wide range of uses. This high-traffic area offers excellent accessibility and strong community demographics. All information is deemed reliable but not guaranteed
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Kansas City
- County
- Jackson
- State
- Missouri
- Longitude
- -94.5233118063
- Latitude
- 39.105349829151
