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

    2005 Commercial St, Unit 2059 Harrisonville, MO 64701-1282

    • Warehouses
    • 34,563 SF
    • 9.90 lot acres
    OFF-MARKET
    Last Sale
    Jan 13, 2023
    Value Estimations
    $3,645,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US48-2023939
    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

    • Landmark Plaza / Shopping Center & Mall

    Property Details for 2005 Commercial St

    Year built
    1984
    Lot size
    9.90 lot acres
    Property size
    34,563 SF
    Property type
    Warehouses
    APN
    13-31-51-000-000-001.002
    APU
    133151000000001002

    Description

    Landmark Plaza, located at 2005 N Commercial St in Harrisonville, Missouri (zip code 64701), presents a compelling retail investment opportunity. This 88,211 square foot outdoor mall, built in 1984, sits on a 10.24-acre lot in Cass County and offers multiple tenancy options. Currently, 9,750 square feet of retail space is available, divisible into units ranging from a minimum of 1,350 square feet to a maximum contiguous space of 8,712 square feet. The property enjoys a highly visible location with convenient access to I-49 and close proximity to Lawrence Smith Memorial Airport, resulting in an average daily traffic count of 30,000 vehicles. This translates to significant foot traffic and exposure for potential tenants. For developers, Landmark Plaza offers flexible development options including build-to-suit, land lease, and outright sale opportunities. Qualified tenants may also be eligible for tenant improvement allowances. The property's ample parking further enhances its appeal to both shoppers and businesses. This is an exceptional opportunity to establish or expand a retail presence in a thriving Missouri market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,005,000
      6.5%
      $3,700,000
      7%
      $3,435,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $3,589,000
      Market price range: $1.34M - $3.59M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $2,355,000
      Current use
      COMMERCIAL (GENERAL)
      $3,935,000
      Change: +67% Conversion: Difficult
      RESTAURANT
      $3,580,000
      Change: +52% Conversion: Difficult
      OFFICE BUILDING
      $3,470,000
      Change: +47% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $3,455,000
      Change: +47% Conversion: Easy
      RETAIL STORES
      $2,820,000
      Change: +20% Conversion: Moderate
      MEDICAL BUILDING
      $2,820,000
      Change: +20% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Harrisonville
    County
    Cass
    State
    Missouri
    Longitude
    -94.3664
    Latitude
    38.6614
    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
    2023
    $64,361
    $190,660
    $696,800
    $887,460
    -
    $595,800
    $2,177,490
    $2,773,290

    Comparable in this City

    • Value Estimation by Request
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    • Value Estimation
      $37,250,000
      367,575 SF

      5100 Brookhart Dr

      WAREHOUSE, STORAGE • 367,575 SF
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    • Value Estimation by Request
      7,500 SF

      2101 Clearwater Dr

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      4,800 SF

      19209 231st St

      WAREHOUSE, STORAGE • 4,800 SF
      19209 231st St, Harrisonville, MO 64701-3844
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      12,100 SF

      22501 299th St

      WAREHOUSE, STORAGE • 12,100 SF
      22501 299th St, Harrisonville, MO 64701-6318
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      5,783 SF

      3003 Cantrell Rd

      WAREHOUSE, STORAGE • 5,783 SF
      3003 Cantrell Rd, Harrisonville, MO 64701-4010
      View Details

    Similar Nearby for Sale

    • $1,273,545
      65.31 Acres

      Harrisonville Industrial Land - 65 Acres

      Prime Cass County industrial acreage, excellent highway access.
      0 Orch & 7 Hwy, Harrisonville, MO 64701
      View Details
    • $1,740,000
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      Harrisonville MO Development Land

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    • $44,000

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    • $500,000
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      Unique Missouri Jail - Investment Opportunity

      Former Jail, 11,000 sq ft, Film Ready
      208 Pearl St, Harrisonville, MO 64701
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      Lot 4 Travis Way

      Land • 3.14 Acres
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      Lot 14 Travis Way

      Land • 7.06 Acres
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    Similar Nearby for Lease

    • $129,600
      43,560 SF

      Former Restaurant with Drive-Thru

      Restaurant space with drive-thru, near Walmart and Whataburger.
      1800 N State Route 291, Harrisonville, MO 64701
      View Details
    • Contact for pricing
      75,939 SF

      Medical Office Space for Lease

      On-campus medical office space available near Cass Regional Medical Center.
      2820 E Rock Haven Rd, Harrisonville, MO 64701
      View Details
    • $10 SF/Yr
      1,200 SF

      Office Space Near Highway 291

      Office space with below market rents and highway signage.
      291 W North St, Harrisonville, MO 64701
      View Details
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    Harrisonville, MO 64701-1282
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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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