Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Property profile & analytics

    2428-2436 Spruce Ave Kansas City, MO 64127

    • Land
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 2428-2436 Spruce Ave

    Property type
    Land

    Description

    This exceptional opportunity presents four contiguous vacant residential lots totaling approximately 21,206 square feet, or roughly half an acre, located in Kansas City, Missouri. The property, situated at 2428-2436 Spruce Avenue, zip code 64127, offers significant potential for development. The lots are conveniently located in Jackson County and boast a prime address. The land is ideal for building new residential structures, offering a blank canvas for custom home construction or a multi-family development project. The property's size and location make it an attractive investment for builders, developers, or individuals seeking to build their dream home. The lots are conveniently located near various amenities and services, providing easy access to local businesses, schools, and transportation routes. The rear of the property backs up to additional vacant lots on Jackson Avenue, offering potential for future expansion or development synergy. This is a rare opportunity to acquire a substantial land parcel in a desirable Kansas City neighborhood. Bring all offers. Please note that there is no sign on the property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Kansas City
    County
    Jackson
    State
    Missouri
    Longitude
    -94.5331
    Latitude
    39.0812

    Comparable in this City

    • Value Estimation by Request

      2304 Wabash Ave

      Land
      2304 Wabash Ave, Kansas City, MO 64127
      View Details
    • Value Estimation by Request

      2319 Myrtle Ave

      Land
      2319 Myrtle Ave, Kansas City, MO 64127
      View Details
    • Value Estimation by Request

      2025 Spruce Ave

      Land
      2025 Spruce Ave, Kansas City, MO 64127
      View Details
    • Value Estimation by Request

      1927 Prospect Ave

      Land
      1927 Prospect Ave, Kansas City, MO 64127
      View Details
    • Value Estimation by Request

      2019-2029 Askew Ave

      Multifamily properties
      2019-2029 Askew Ave, Kansas City, MO 64127
      View Details
    • Value Estimation by Request

      1916 Walrond Ave

      Specialty properties
      1916 Walrond Ave, Kansas City, MO 64127
      View Details

    Similar Nearby for Sale

    • $139,900

      Kansas City Residential Land

      9,000 sq ft lot, prime location.
      1321 Michigan Ave, Kansas City, MO 64127
      View Details
    • Contact for pricing

      Wabash Ave Residential Land - KC MO

      Prime Residential Lot, Kansas City
      2304 Wabash Ave, Kansas City, MO 64127
      View Details
    • Contact for pricing

      Kansas City Residential Land Parcel

      Build Your Dream Home - Prime Location
      1301 Askew Ave, Kansas City, MO 64127
      View Details
    • Contact for pricing

      Kansas City Residential Land Parcel

      Build Your Dream Home - $20,000
      2443 Olive St, Kansas City, MO 64127
      View Details
    • Contact for pricing

      Prime Kansas City Residential Lot

      Build Your Dream Home on 4,022 SF Lot
      2319 Myrtle Ave, Kansas City, MO 64127
      View Details
    • $30,000

      Kansas City Residential Land Parcel

      14,665 SF Residential Lot - $30,000
      2103 Walrond Ave, Kansas City, MO 64127
      View Details

    Similar Nearby for Lease

    • $4 SF/Yr
      80,000 SF

      Kansas City Warehouse - 80,000 SF

      Spacious single-tenant warehouse, ideal for industrial use.
      5224 Winner Rd, Kansas City, MO 64127
      View Details
    • $84 SF/Yr
      13,000 SF

      Indiana Ave Industrial Warehouse

      Spacious warehouse, ideal for manufacturing.
      2125 Indiana Ave, Kansas City, MO 64127
      View Details
    • Contact for pricing
      4,300 SF

      Spacious Office Space with Access

      Office space featuring open floor plan, freight elevator, dock access.
      1921 E Truman Rd, Kansas City, MO 64127
      View Details
    • $1.00 SF/Yr
      16,117 SF

      Kansas City Commercial Space Available

      Prime location suitable for daycare, group home, or church.
      1844 Benton Blvd, Kansas City, MO 64127
      View Details
    • $156 SF/Yr
      9,972 SF

      Truman Road Retail Opportunity

      Prime Kansas City retail space, high visibility.
      2522 Truman Rd, Kansas City, MO 64127
      View Details
    • $13 SF/Yr
      9,972 SF

      Truman Road Retail Opportunity

      Prime Kansas City storefront, 9,972 sq ft
      2522 Truman Rd, Kansas City, MO 64127
      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.
    2428-2436 Spruce Ave
    Kansas City, MO 64127
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.