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

    15800 23rd S St Independence, MO 64055-1909

    • Grocery and convenience stores
    • 3,235 SF
    • 1.32 lot acres
    OFF-MARKET
    Last Sale
    Aug 20, 2024
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US48-0528390
    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

    • Phillips 66 / Gas Station
    • ATM (Gas Mart USA) / Atm
    • Western Union / Bank / Credit Union
    • Casey's / Gas Station

    Property Details for 15800 23rd S St

    Year built
    1998
    Construction
    WOOD
    Lot size
    1.32 lot acres
    Property size
    3,235 SF
    Property type
    Grocery and convenience stores
    APN
    26-610-06-14
    APU
    266100614

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Independence
    County
    Jackson
    State
    Missouri
    Longitude
    -94.3902
    Latitude
    39.0788
    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
    $29,153
    $117,568
    $237,632
    $355,200
    -
    $0.00
    $0.00
    $1,110,000

    Comparable in this City

    • Value Estimation
      $1,915,000
      16,200 SF

      4911 Arrowhead Dr

      CONVENIENCE STORE • 16,200 SF
      4911 Arrowhead Dr, Independence, MO 64055-7005
      View Details
    • Value Estimation by Request
      2,760 SF

      1110 23rd S St

      CONVENIENCE STORE • 2,760 SF
      1110 23rd S St, Independence, MO 64055-1616
      View Details
    • Value Estimation
      $825,000
      18,051 SF

      16007 23rd S St

      GROCERY, SUPERMARKET • 18,051 SF
      16007 23rd S St, Independence, MO 64055-1912
      View Details
    • Value Estimation by Request
      3,430 SF

      17600 39th S St

      CONVENIENCE STORE • 3,430 SF
      17600 39th S St, Independence, MO 64055-3869
      View Details
    • Value Estimation by Request
      0.39 Acres

      3900 Noland Rd

      CONVENIENCE STORE • 0.39 Acres
      3900 Noland Rd, Independence, MO 64055-3347
      View Details
    • Value Estimation by Request
      5,000 SF

      4740 Arrowhead Dr

      CONVENIENCE STORE • 5,000 SF
      4740 Arrowhead Dr, Independence, MO 64055-6978
      View Details

    Similar Nearby for Sale

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      0.28 Acres

      Independence Commercial Building For Sale

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      Noland Fashion Square: Retail Portfolio

      Prime Missouri Retail Center: Multi-Building Opportunity
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      Retail Building in High-Traffic Area

      3,000 SF building on a shopping center pad.
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    • $1,300,000
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      Retail Pad Site Opportunity

      Retail space available in high-traffic area near major retailers.
      3945 Bolger Rd, Independence, MO 64055
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    • $750,000
      3,724 SF

      Prime Independence Restaurant - $750K

      Freestanding Steak 'n Shake, high traffic location.
      13621 40Th St, Independence, MO 64055
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    • $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
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    Similar Nearby for Lease

    • Contact for pricing
      1,600 SF

      Retail/Medical Space on Highway 40

      Retail or medical spaces available for lease on Highway 40.
      17000 E Us Highway 40, Independence, MO 64055
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space on Noland Road

      2,000 SF retail space with high visibility available for lease.
      3801 S Noland Rd, Independence, MO 64055
      View Details
    • $12 SF/Yr
      1,310 SF

      Retail Space Near Grocery Store

      Retail spaces available with high visibility and traffic counts.
      4540 S Noland Rd, Independence, MO 64055
      View Details
    • Contact for pricing
      2,100 SF

      Retail Space in Independence, MO

      2,100 SF retail space available for rent.
      17701 E 39Th St S, Independence, MO 64055
      View Details
    • $1,772,953
      3,908 SF

      Retail Space For Lease/Sale

      Retail spaces and pad sites available for lease or sale.
      4600 S Noland Rd, Independence, MO 64055
      View Details
    • Contact for pricing
      415 SF

      Independence Retail Space For Lease

      Prime Retail Space, 415 sq ft, Jackson County, MO
      603 23Rd St, Independence, MO 64055
      View Details
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    15800 23rd S St
    Independence, MO 64055-1909
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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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