Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    16912 23rd S St Independence, MO 64057

    • Retail space
    • 1,232 SF
    • 0.93 lot acres
    OFF-MARKET
    Value Estimations
    $280,000
    Show details
    Cap Rate Potential
    4.3%
    Retail space
    Location Intelligence
    Property ID
    US48-1469036
    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

    • Retail space

    Property Details for 16912 23rd S St

    Year built
    1957
    Construction
    WOOD
    Lot size
    0.93 lot acres
    Property size
    1,232 SF
    Property type
    Retail space
    APN
    25-420-02-48
    APU
    254200248

    Description

    This exceptional investment opportunity presents a 1,415 square-foot, single-tenant Take 5 Oil Change property located at 16912 East 23rd St S, Independence, MO 64057, within the Kansas City MSA. The property, built in 2024 and boasting 100% occupancy, sits on a 0.73-acre lot at a signalized intersection with over 65,000 vehicles passing daily. This absolute NNN lease offers a 15-year term with five 5-year renewal options and attractive 10% rent bumps every five years, ensuring consistent income growth. The property's strong financial performance is reflected in its 7.00% cap rate and $110,000 annual net operating income (NOI). The asking price is $1,571,429, translating to $1,110.55 per square foot. The tenant, Take 5 Oil Change, is a subsidiary of Driven Brands (NASDAQ: DRVN), a leading automotive services company with over 1,000 locations nationwide and significant expansion plans. The surrounding area features a robust mix of national retailers, including Price Chopper, Tractor Supply Company, Hy-Vee, ALDI, and many others, indicating a strong retail environment. Furthermore, the property benefits from a dense population base, with over 148,000 people residing within a five-mile radius and an average household income exceeding $81,764. This e-commerce resistant business model, coupled with the long-term lease and strategic location, makes this a compelling investment opportunity with significant potential for long-term returns. The operator, Driven Assets, has exclusive rights to operate in the Kansas City metro area and plans to open 16 additional locations.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $350,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $250,000
      6.5%
      $230,000
      7%
      $215,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $273,000
      Market price range: $75.4k - $273k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $230,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Independence
    County
    Jackson
    State
    Missouri
    Longitude
    -94.3786
    Latitude
    39.0784
    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
    $5,314
    $34,144
    $21,600
    $55,744
    -
    $0.00
    $0.00
    $174,200

    Comparable in this City

    • Value Estimation
      $400,000
      7,246 SF

      Independence, MO 64057

      RETAIL STORES (PERSONAL SERVICES) • 7,246 SF
      Independence, MO 64057
      View Details
    • Value Estimation
      $400,000
      5,673 SF

      2560 State Rte 291

      RETAIL STORES (PERSONAL SERVICES) • 5,673 SF
      2560 State Rte 291, Independence, MO 64057-1227
      View Details
    • Value Estimation
      $370,000
      2,100 SF

      1905 State Rte 7th 7

      RETAIL STORES (PERSONAL SERVICES) • 2,100 SF
      1905 State Rte 7th 7, Independence, MO 64057
      View Details
    • Value Estimation
      $410,000
      4,975 SF

      2511 State Rte 291

      RETAIL STORES (PERSONAL SERVICES) • 4,975 SF
      2511 State Rte 291, Independence, MO 64057-1205
      View Details
    • Value Estimation
      $350,000
      3,844 SF

      2430 R D Mize Rd

      RETAIL STORES (PERSONAL SERVICES) • 3,844 SF
      2430 R D Mize Rd, Independence, MO 64057-1808
      View Details
    • Value Estimation
      $375,000
      3,440 SF

      2400 R D Mize Rd

      RETAIL STORES (PERSONAL SERVICES) • 3,440 SF
      2400 R D Mize Rd, Independence, MO 64057-1808
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,135 SF

      Retail Building in Mixed-Use Complex

      6,135 SF retail building in a premier mixed-use complex.
      20000 E Valley View Pkwy, Independence, MO 64057
      View Details
    • $400,000
      0.48 Acres

      Two-Level Retail Store For Sale

      Free-standing two-level retail store with billboard income included.
      2854 S 291 Hwy, Independence, MO 64057
      View Details
    • $1,750,000
      2,223 SF

      Restaurant Property Near Menards

      Restaurant property with drive-thru, constructed in 2018.
      4049 Little Blue Pkwy, Independence, MO 64057
      View Details
    • $3,380,000
      1.27 Acres

      Turnkey Restaurant and Real Estate

      Fully operational restaurant with real estate, high visibility, easy access.
      19800 E Valley View Pkwy, Independence, MO 64057
      View Details
    • $1,650,000
      6,269 SF

      Valley View Parkway Restaurant

      Prime Restaurant Location, High Traffic
      19700 Valley View Pkwy, Independence, MO 64057
      View Details
    • $71,500
      0.94 Acres

      Prime Independence Land - Build Your Dream Home

      Nearly 1-acre lot, cleared & surveyed, near schools.
      2100 James Downey Rd, Independence, MO 64057
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,228 SF

      Retail Space Near Highway 291

      Retail space available near major retailers and high-traffic areas.
      18800-19120 E 39Th St S, Independence, MO 64057
      View Details
    • $10 SF/Yr
      2,000 SF

      Retail Space For Rent

      Retail space available for lease in Independence, Missouri.
      2407-2424 S State Route 291, Independence, MO 64057
      View Details
    • $12 SF/Yr
      779 SF

      Retail Space in Independence Center

      Retail spaces available for lease in a super-regional shopping mall.
      18801-18813 E 39Th St S, Independence, MO 64057
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space Near Highway 291

      Retail space available near major retailers and medical center.
      19130 E 39Th St S D, Independence, MO 64057
      View Details
    • Contact for pricing
      5,653 SF

      Freestanding Retail Building For Lease

      5,653 SF freestanding retail building in established Independence, Missouri corridor.
      19921 E Jackson Dr, Independence, MO 64057
      View Details
    • Contact for pricing
      2,622 SF

      Retail Space Near Highway 291

      Retail space near major retailers and high-traffic areas.
      19210 E 39Th St S, Independence, MO 64057
      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.
    16912 23rd S St
    Independence, MO 64057
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.