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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1088 Independence Ave Lees Summit, MO 64086

    • Residential income homes
    • 30,675 SF
    • 4.82 lot acres
    OFF-MARKET
    Value Estimations
    $2,420,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US48-0936172
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Residential income homes

    Property Details for 1088 Independence Ave

    Year built
    2004
    Construction
    WOOD
    Lot size
    4.82 lot acres
    Property size
    30,675 SF
    Property type
    Residential income homes
    Property subtype
    Serviced apartments
    APN
    52-830-01-11
    APU
    528300111

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,013,000
      Market price range: $2.01M - $4.59M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $3,130,000
      Current use
      OFFICE BUILDING
      $3,550,000
      Change: +13% Conversion: Moderate
      INDUSTRIAL (GENERAL)
      $3,385,000
      Change: +8% Conversion: Difficult
      RESTAURANT
      $3,330,000
      Change: +6% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $3,165,000
      Change: +1% Conversion: Difficult
      RETAIL STORES
      $2,840,000
      Change: -9% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lees Summit
    County
    Jackson
    State
    Missouri
    Longitude
    -94.3657
    Latitude
    38.9308
    CBSA code
    28140
    CBSA name
    KANSAS CITY, MO-KS METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $126,662
    $475,000
    $1,292,000
    $1,767,000
    -
    $0.00
    $0.00
    $9,300,000

    Comparable in this City

    • Value Estimation by Request
      593 SF

      9516 Main Entrance Dr, Unit 1

      APARTMENT HOUSE (5+ UNITS) • 593 SF
      9516 Main Entrance Dr, Lake Lotawana, MO 64086-9705
      View Details
    • Value Estimation
      $995,000
      6,711 SF

      801 Donovan Rd

      GARDEN APT, COURT APT (5+ UNITS) • 6,711 SF
      801 Donovan Rd, Lees Summit, MO 64086-4567
      View Details
    • Value Estimation
      $2,485,000
      16,732 SF

      837 Donovan Rd

      GARDEN APT, COURT APT (5+ UNITS) • 16,732 SF
      837 Donovan Rd, Lees Summit, MO 64086-4540
      View Details
    • Value Estimation by Request
      2,216 SF

      900 Ridgeview Dr, Unit A

      APARTMENT HOUSE (5+ UNITS) • 2,216 SF
      900 Ridgeview Dr, Lees Summit, MO 64086-5648
      View Details
    • Value Estimation by Request
      2,205 SF

      910 Ridgeview Dr, Unit E

      GARDEN APT, COURT APT (5+ UNITS) • 2,205 SF
      910 Ridgeview Dr, Lees Summit, MO 64086-6842
      View Details
    • Value Estimation
      $950,000
      6,400 SF

      501 Tudor Rd, Unit 1

      GARDEN APT, COURT APT (5+ UNITS) • 6,400 SF
      501 Tudor Rd, Lees Summit, MO 64086-5721
      View Details

    Similar Nearby for Sale

    • $245,000

      Lee's Summit Half Duplex

      Move-in ready 3-bedroom duplex with desirable location.
      703 NE Swann Cir, Lees Summit, MO 64086
      View Details
    • New
      $590,000
      0.08 Acres

      Lee's Summit Fourplex Investment Opportunity

      Fourplex in Lee's Summit with income potential and renovation opportunity.
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    • $255,000
      8.00 Acres

      Lone Jack, MO Wooded Lot

      8 Acres, Private Oasis, Custom Plans Available
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      Lee's Summit Lakefront Lot

      Prime Residential Land, Stunning Views
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    • $60,000

      Lake Lotawana Residential Land

      Build your dream home on 5,220 sq ft.
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    • $175,000

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      Build your dream home! Waterfront views.
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    Similar Nearby for Lease

    • $35 SF/Yr
      507,000 SF

      Summit Fair Shops Retail Space

      Lone Jack, MO: 1,395 SF Available
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    • $15 SF/Yr
      20,226 SF

      Windsor Drive Office Complex

      Prime Office Space Available Now
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      View Details
    • Contact for pricing

      Lee's Summit Retail Land Opportunity

      Prime retail land, two spaces available.
      0 Chipman Rd & Ward Rd, Lee's Summit, MO 64086
      View Details
    • $75 SF/Yr
      16,554 SF

      Lee's Summit Executive Suites

      Modern office space, flexible options.
      200 Missouri Rd, Lee's Summit, MO 64086
      View Details
    • $25 SF/Yr
      3,930 SF

      Retail Space on 291 Highway

      3,930 SF in-line retail space for lease.
      600-638 NE State Route 291, Lees Summit, MO 64086
      View Details
    • Contact for pricing
      3,054 SF

      Retail Space in Lees Summit

      Retail space available for lease in Lees Summit, Missouri.
      1100 NE Douglas St, Lees Summit, MO 64086
      View Details
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    1088 Independence Ave
    Lees Summit, MO 64086
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    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
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