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

    1531 23rd St Sa Independence, MO 64055-1670

    • Strip malls
    • 920 SF
    • 0.77 lot acres
    OFF-MARKET
    Last Sale
    Jun 25, 2021
    Value Estimations
    $250,000
    Show details
    Cap Rate Potential
    4.2%
    Strip malls
    Location Intelligence
    Property ID
    US48-0981642
    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

    • Papa Murphy's | Take 'N' Bake Pizza / Pizza Restaurant / Family Restaurant
    • Valvoline Instant Oil Change / Oil Change Service / Auto Air Conditioning Service

    Property Details for 1531 23rd St Sa

    Year built
    2003
    Construction
    WOOD
    Lot size
    0.77 lot acres
    Property size
    920 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    26-640-02-49
    APU
    266400249

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $300,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $210,000
      6.5%
      $195,000
      7%
      $180,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Independence
    County
    Jackson
    State
    Missouri
    Longitude
    -94.3924
    Latitude
    39.078
    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
    $19,139
    $169,856
    $63,328
    $233,184
    -
    $0.00
    $0.00
    $728,700

    Comparable in this City

    • Value Estimation
      $290,000
      9,840 SF

      3300 Blue Rdg Cut Off A Ste A

      SHOPPING CENTER, STRIP CENTER • 9,840 SF
      3300 Blue Rdg Cut Off A Ste A, Independence, MO 64055-6145
      View Details
    • Value Estimation
      $290,000
      4,035 SF

      14100 42nd St S Ste A

      SHOPPING CENTER, STRIP CENTER • 4,035 SF
      14100 42nd St S Ste A, Independence, MO 64055-7312
      View Details
    • Value Estimation
      $255,000
      5,188 SF

      13912 Noland Ct Ste B

      SHOPPING CENTER, STRIP CENTER • 5,188 SF
      13912 Noland Ct Ste B, Independence, MO 64055-3363
      View Details
    • Value Estimation
      $405,000
      14,070 SF

      4452 Noland Rd

      SHOPPING CENTER, STRIP CENTER • 14,070 SF
      4452 Noland Rd, Independence, MO 64055-4743
      View Details
    • Value Estimation
      $845,000
      35,528 SF

      4420 Noland Rd Ste A

      SHOPPING CENTER, STRIP CENTER • 35,528 SF
      4420 Noland Rd Ste A, Independence, MO 64055-4888
      View Details
    • Value Estimation
      $1,035,000
      36,000 SF

      17331 Us Hwy 40th Ste, Unit 101

      SHOPPING CENTER, STRIP CENTER • 36,000 SF
      17331 Us Hwy 40th Ste, Independence, MO 64055-5364
      View Details

    Similar Nearby for Sale

    • $1,300,000
      1.17 Acres

      Retail Center in Independence, MO

      Fully leased retail neighborhood center in Independence, Missouri.
      2400 Lee's Smt Rd, Independence, MO 64055
      View Details
    • $1,500,000
      3,000 SF

      Retail Building in High-Traffic Area

      3,000 SF building on a shopping center pad.
      13720 E Us Highway 40, Independence, MO 64055
      View Details
    • $500,000

      Retail Space and Pad Sites

      Retail spaces and pad sites available for sale or lease.
      13700 E Us Highway 40, Independence, MO 64055
      View Details
    • $1,504,124
      7,232 SF

      Retail Investment Property For Sale

      7,232 SF fully occupied retail building for sale.
      13900 E Us Highway 40, Independence, MO 64055
      View Details
    • $550,000

      Prime Independence Restaurant Opportunity

      Established Restaurant, High Traffic Area
      10690 Us Hwy 40 Hwy, Independence, MO 64055
      View Details
    • $365,000
      0.28 Acres

      Independence Commercial Building For Sale

      3,456 SF commercial building on high-traffic corner lot.
      13717 E 39Th St, Independence, MO 64055
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,000 SF

      Noland Road Retail Space Available

      Prime Independence Retail Space, 2,000 SF
      3709 Noland Rd, Independence, MO 64055
      View Details
    • Contact for pricing
      8,572 SF

      Scottsdale Center

      Neighborhood centers
      17020 Us Highway 40, Independence, MO 64055
      View Details
    • Contact for pricing
      28,314 SF

      Marketplace Shopping Center: Independence, MO

      Retail & Office Space Available: High-traffic location.
      14100-14330 Noland Rd, Independence, MO 64055
      View Details
    • $3,000,000
      8,000 SF

      Retail Space in High-Traffic Area

      Retail spaces available in a 300,000 SF shopping center.
      13500-13920 E Us Highway 40, Independence, MO 64055
      View Details
    • Contact for pricing
      2,134 SF

      Retail Space in Hub Center

      Retail space available in a 93% occupied shopping center.
      16611 E 23Rd St S, Independence, MO 64055
      View Details
    • $14 SF/Yr
      1,305 SF

      Retail Space For Lease

      Commercial retail space available in shopping center.
      13922 E Noland Ct, Independence, MO 64055
      View Details
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    1531 23rd St Sa
    Independence, MO 64055-1670
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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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