Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3161 Missouri 291 Lee's Summit, MO 64082
    Back to Search
    Property profile & analytics

    3161 Missouri 291 Lee's Summit, MO 64082

    View on Map
    • Land
    • 178.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 3161 Missouri 291

    Lot size
    178.00 lot acres
    Property type
    Land

    Description

    This exceptional 178-acre land parcel, located at 3161 Missouri 291 in Lee's Summit, Missouri, presents a significant redevelopment opportunity. Situated in Jackson County, zip code 64082 (latitude 38.8642312, longitude -94.3749867), this expansive property is offered at $6,345,000. The site's substantial acreage allows for a multitude of development possibilities, catering to various commercial uses. The seller is open to subdividing the land for specific projects, making it an attractive proposition for developers seeking flexibility. This prime location within a thriving community offers excellent potential for substantial returns. The property's size and strategic location make it an ideal candidate for a large-scale commercial venture, capitalizing on the area's growth and demand. This is a rare opportunity to acquire a significant land holding in a desirable Missouri location. Serious inquiries are encouraged. The property is classified as commercial land.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lee's Summit
    County
    Jackson
    State
    Missouri
    Longitude
    -94.375
    Latitude
    38.8642

    Comparable in this City

    • Value Estimation by Request
      1.20 Acres

      Raintree Dr

      Land • 1.20 Acres
      0 Raintree Dr, Lee's Summit, MO 64082
      View Details
    • Value Estimation by Request

      3120 M 291 Hwy

      Farms
      3120 M 291 Hwy, Lee's Summit, MO 64082
      View Details
    • Value Estimation by Request

      M-150 Highway Ln

      Land
      M-150 Highway Ln, Lee's Summit, MO 64082
      View Details
    • Value Estimation by Request
      284.00 Acres

      Thompson Dr

      Land • 284.00 Acres
      0 Thompson Dr, Lee's Summit, MO 64082
      View Details
    • Value Estimation by Request
      1.20 Acres

      200 Greenwich Dr

      Land • 1.20 Acres
      200 Greenwich Dr, Lee's Summit, MO 64082
      View Details
    • Value Estimation by Request
      1.42 Acres

      291 Hwy & 150 Hwy

      Land • 1.42 Acres
      291 Hwy & 150 Hwy, Lee's Summit, MO 64082
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land for Sale

      Land available for purchase in Lee's Summit, Missouri.
      3801 SW Cheddington Dr, Lees Summit, MO 64082
      View Details
    • Contact for pricing

      Land For Sale

      Land available for sale in Lee's Summit, Missouri.
      3805 SW Raintree Dr, Lees Summit, MO 64082
      View Details
    • Contact for pricing

      Land for Sale

      Land available for purchase in Lees Summit, Missouri.
      3750 SW Cheddington Dr, Lees Summit, MO 64082
      View Details
    • Contact for pricing

      Land For Sale

      Land available for sale.
      291 Hwy & 150 Hwy, Lees Summit, MO 64082
      View Details
    • Contact for pricing

      Commercial Land in Lee's Summit

      Commercial land available for sale in Lee's Summit, MO.
      101 SW Raintree Dr, Lees Summit, MO 64082
      View Details
    • Contact for pricing

      Commercial Land Near Highway 291

      1.2 AC commercial land with high visibility.
      SW Raintree Dr, Lees Summit, MO 64082
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Land for Lease

      Land available for lease in Lee's Summit, Missouri.
      3410 SW Market St, Lees Summit, MO 64082
      View Details
    • Contact for pricing

      Commercial Land For Lease

      Commercial land available for lease in Lee's Summit, Missouri.
      3410 Southwest Market St, Lees Summit, MO 64082
      View Details
    • Contact for pricing
      1,139 SF

      Retail Space in Growing Suburb

      33,340 SF shopping center in growing Kansas City suburb.
      817 SW Lemans Ln, Lees Summit, MO 64082
      View Details
    • Contact for pricing
      1,244 SF

      Retail Space in Lee's Summit

      Retail space available for lease in Lee's Summit, MO.
      251 Southwest Greenwich Dr, Lees Summit, MO 64082
      View Details
    • Contact for pricing
      20,000 SF

      Lees Summit Office Space

      20000 square feet of office space for rent.
      120 SE 30Th St, Lees Summit, MO 64082
      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.
    3161 Missouri 291
    Lee's Summit, MO 64082
    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
    3161 Missouri 291, Lee's Summit, MO, 64082
    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!