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    1221 Broadway Dr Lees Summit, MO 64081-4604
    Property profile & analytics

    1221 Broadway Dr, Lees Summit, MO 64081-4604

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    • Industrial properties
    • 24,000 SF
    • 1.64 lot acres
    Off-Market
    Property ID
    US48-0055234
    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.
    Value Estimations
    $805,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • riv concrete supply / Construction Company / General Contractor
    • Brisk Interactive / Marketing & Advertising / Advertising Agency
    • Active 3D / Advertising Agency / Marketing & Advertising
    • Leo Concrete LLC / Construction Company / General Contractor
    • PuroClean Property Restoration Services / Hardware & Home Improvement / Construction Company

    Property Details for 1221 Broadway Dr

    Year built
    1998
    Construction
    METAL FRAME
    Lot size
    1.64 lot acres
    Property type
    Industrial properties
    Property subtype
    Loft space
    APN
    61-630-05-23
    APU
    616300523

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 12, 2017 — 1221 Se Broadway LLC Lazy B Two LLC Grant Deed $775k · Anb Bk
    Feb 22, 2008 — Lazy B Two LLC B Lazy Trust Quit Claim Deed · related —
    Feb 28, 2007 — B Lazy Trust Soucek,charles Quit Claim Deed · related —
    Dec 11, 2006 — Soucek,charles D Soucek,lavaun F Quit Claim Deed · related —
    Dec 22, 2005 — Soucek,charles D L & M Investments LLC Warranty Deed · related —
    — — Charles D Soucek — Deed Of Trust · related $250k · Umb Bank NA
    — — Lazy B Two LLC — Deed Of Trust · related $462k · Bank Of The West

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $545,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,058,000
      Market price range: $1.06M - $4.93M

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

    Location Insight

    • Map
    • Local Demand
    City
    Lees Summit
    County
    Jackson
    State
    Missouri
    Longitude
    -94.3569
    Latitude
    38.8961
    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
    $33,906
    $115,232
    $278,784
    $394,016
    -
    $0.00
    $0.00
    $1,231,300

    Comparable in this City

    • Value Estimation by Request
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      1050 Century Dr

      INDUSTRIAL LOFT BUILDING
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      1010 Hamblen Rd

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      1100 Century Dr

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      1100 Century Dr, Lees Summit, MO 64081-3284
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      5,800 SF

      1324 Market St

      INDUSTRIAL LOFT BUILDING
      1324 Market St, Lees Summit, MO 64081-2903
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    • Value Estimation by Request
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      1201 Broadway Dr

      INDUSTRIAL LOFT BUILDING
      1201 Broadway Dr, Lees Summit, MO 64081-4604
      View Details

    Similar Nearby for Sale

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    • $325,000
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      Residential Land in Lee's Summit

      Half-acre lot backing up to New Longview Lake.
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    • Contact for pricing

      Commercial Lots For Sale/Build-to-Suit

      Commercial lots available for sale or build-to-suit.
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    • $347,743
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      Lee's Summit Duplex For Sale

      Duplex in Lee's Summit, Missouri, with 1649 square feet.
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    Similar Nearby for Lease

    • Contact for pricing
      1,200 SF

      Grocery-Anchored Shopping Center Space

      Retail spaces available in high-traffic shopping center.
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      Class A Office Space

      Office space in Longview mixed-use development, walkable to amenities.
      400 SW Longview Rd, Lees Summit, MO 64081
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      1,200 SF

      Retail Space in Lee's Summit

      Retail space available for lease in Lee's Summit, MO.
      310 W Ward Rd, Lees Summit, MO 64081
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      2,378 SF

      Retail Space Available For Rent

      Retail space available for lease in Lee's Summit, Missouri.
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      1,020 SF

      Retail Space in Summit Woods

      1,020 SF in-line space within a 7,500 SF building.
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    • Contact for pricing

      Retail Space Near High-Traffic Hy-Vee

      Retail space with high visibility and access to Highway 50.
      403 SW Ward Rd, Lees Summit, MO 64081
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    Lees Summit, MO 64081-4604
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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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