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    1695 Rice Rd Lees Summit, MO 64086-5460
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    Property profile & analytics

    1695 Rice Rd, Lees Summit, MO 64086-5460

    View on Map
    • Retail space
    • 10,200 SF
    • 1.26 lot acres
    Off-Market
    Last Sale Feb 16, 2021
    Property ID
    US48-0084626
    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
    $655,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Reed Performing Arts Company / Training Center
    • Johnson Floor & Home Carpet One / Carpet & Flooring Store / Hardware & Home Improvement

    Property Details for 1695 Rice Rd

    Year built
    2006
    Construction
    FRAME
    Lot size
    1.26 lot acres
    Property type
    Retail space
    APN
    52-540-02-37
    APU
    525400237

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 16, 2021 — Reed Performing Arts Company LLC G & S Associates LLC Warranty Deed $873k · Great Oaks Bank
    Jan 27, 2006 — G Ptshp Patterson,michael R & Sandra K Warranty Deed $1M · Intrust Bank NA
    — — Michael R Patterson — Deed Of Trust · related $130k · Us Bank NA

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $550,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $766,000
      Market price range: $352k - $1.44M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $945,000
      Current use
      AUTO REPAIR, GARAGE
      $1,050,000
      Change: +12% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $1,040,000
      Change: +10% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Lees Summit
    County
    Jackson
    State
    Missouri
    Longitude
    -94.3585
    Latitude
    38.9416
    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
    $35,247
    $202,912
    $206,688
    $409,600
    -
    $0.00
    $0.00
    $1,280,000

    Comparable in this City

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      RETAIL STORES (PERSONAL SERVICES)
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    • Value Estimation by Request
      1,200 SF

      1803 Colbern Rd

      RETAIL STORES (PERSONAL SERVICES)
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    • Value Estimation
      $580,000
      11,400 SF

      825 Commerce Dr

      RETAIL STORES (PERSONAL SERVICES)
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    • Value Estimation
      $525,000
      4,258 SF

      1125 Douglas St

      RETAIL STORES (PERSONAL SERVICES)
      1125 Douglas St, Lees Summit, MO 64086-4603
      View Details
    • Value Estimation
      $5,230,000
      192,014 SF

      1000 Sam Walton Ln

      RETAIL STORES (PERSONAL SERVICES)
      1000 Sam Walton Ln, Lees Summit, MO 64086-8426
      View Details
    • Value Estimation by Request
      1,536 SF

      Lees Summit, MO 64086

      RETAIL STORES (PERSONAL SERVICES)
      Lees Summit, MO 64086
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,675 SF

      Lee's Summit Retail Opportunity

      Retail space in a highly sought-after Lee's Summit location.
      909 NE Rice Rd, Lees Summit, MO 64086
      View Details
    • $183,100
      3.67 Acres

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      Premier acreage community near Lake Lotawana, build later.
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      Premier acreage community with breathtaking views and modern conveniences.
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      37,026 SF

      Lake View Acreage Opportunity

      Large lot with lake views, ideal for building your dream home.
      40 A St, Lees Summit, MO 64086
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    • $486,200
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      Premier acreage community with breathtaking views, buy now, build later.
      32201 Outer Belt Rd, Lake Lotawana, MO 64086
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    • New
      $460,000
      0.29 Acres

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      Well-maintained, fully occupied duplex in desirable Lee's Summit.
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    Similar Nearby for Lease

    • Contact for pricing
      4,023 SF

      Retail Space in Summit Fair

      Retail space available in open-air lifestyle center.
      950-990 NW Blue Pkwy, 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
    • Contact for pricing
      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
      8,767 SF

      Retail Space in Lees Summit

      Retail space available in a high-traffic Lees Summit location.
      930 NE Columbus St, Lees Summit, MO 64086
      View Details
    • Contact for pricing
      4,500 SF

      Retail Space in Summit Fair

      Retail space available in open-air lifestyle center.
      1008 NW Blue Pkwy, Lees Summit, MO 64086
      View Details
    • Contact for pricing
      2,400 SF

      Retail Space with Highway Visibility

      Retail space with excellent visibility and recent improvements.
      1125-1225 NE Rice Rd, Lees Summit, MO 64086
      View Details
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    Lees Summit, MO 64086-5460
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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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