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    Property profile & analytics

    2320 Independence Ave Lees Summit, MO 64064-2320

    • Retail space
    • 4,170 SF
    • 1.32 lot acres
    OFF-MARKET
    Last Sale
    Dec 14, 2023
    Value Estimations
    $610,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US48-1301825
    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

    • Universal Construction Company, Inc. / Corporate Office

    Property Details for 2320 Independence Ave

    Year built
    2020
    Construction
    METAL FRAME
    Lot size
    1.32 lot acres
    Property size
    4,170 SF
    Property type
    Retail space
    APN
    52-240-03-07
    APU
    522400307

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $560,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $990,000
      6.5%
      $910,000
      7%
      $845,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $821,000
      Market price range: $204k - $821k

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

    Location Insight

    • Map
    • Local Demand
    City
    Lees Summit
    County
    Jackson
    State
    Missouri
    Longitude
    -94.3635
    Latitude
    38.9548
    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
    $38,482
    $156,000
    $291,200
    $447,200
    -
    $0.00
    $0.00
    $1,397,500

    Comparable in this City

    • Value Estimation
      $655,000
      21,951 SF

      2601 Mcbaine Dr

      RETAIL STORES (PERSONAL SERVICES) • 21,951 SF
      2601 Mcbaine Dr, Lees Summit, MO 64064-7964
      View Details
    • Value Estimation
      $345,000
      1,728 SF

      9322 State Rte 7th 7

      RETAIL STORES (PERSONAL SERVICES) • 1,728 SF
      9322 State Rte 7th 7, Lees Summit, MO 64064-2815
      View Details
    • Value Estimation
      $340,000
      3,102 SF

      9400 State Rte 7th 7

      RETAIL STORES (PERSONAL SERVICES) • 3,102 SF
      9400 State Rte 7th 7, Lees Summit, MO 64064-2800
      View Details
    • Value Estimation
      $365,000
      3,264 SF

      9324 State Rte 7th 7

      RETAIL STORES (PERSONAL SERVICES) • 3,264 SF
      9324 State Rte 7th 7, Lees Summit, MO 64064-2815
      View Details
    • Value Estimation
      $415,000
      2,400 SF

      8724 M 7th Hwy

      RETAIL STORES (PERSONAL SERVICES) • 2,400 SF
      8724 M 7th Hwy, Lees Summit, MO 64064
      View Details
    • Value Estimation
      $385,000
      11,200 SF

      26701 Colbern Rd

      RETAIL STORES (PERSONAL SERVICES) • 11,200 SF
      26701 Colbern Rd, Lees Summit, MO 64064-2708
      View Details

    Similar Nearby for Sale

    • $1,385,208
      2.12 Acres

      Strother Crossing Commercial Land

      Lee's Summit, MO commercial lot.
      C1 Independence Ave, Lee's Summit, MO 64064
      View Details
    • Contact for pricing
      4.74 Acres

      Lee's Summit Industrial Land Investment

      4.74 Acres, P-I Zoning, Prime Location
      3051 Hagan Rd, Lee's Summit, MO 64064
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    • $225,000
      1.47 Acres

      Lee's Summit Warehouse - $225K

      Prime Industrial Warehouse, I-470 Visibility
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    • $150,000
      3.00 Acres

      Lee's Summit 3-Acre Estate Lot

      Prime 3-acre lot near parks & trails.
      23700 88Th St, Lee's Summit, MO 64064
      View Details
    • Contact for pricing

      Prime Commercial Land Opportunity

      High-traffic commercial land available for sale or development.
      5101 NE Lakewood Way, Lees Summit, MO 64064
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    • Contact for pricing
      19.02 Acres

      Lee's Summit Senior Housing Land

      19 Acres, Divisible, Utilities Available
      2400 Smt Rd, Lee's Summit, MO 64064
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,136 SF

      Retail Space in Lees Summit

      Retail space available for lease in Lees Summit, Missouri.
      905-913 NE Woods Chapel Rd, Lees Summit, MO 64064
      View Details
    • $18 SF/Yr
      46,609 SF

      Lee's Summit Commercial Property For Rent

      Well-maintained commercial property with excellent visibility and flexible layout.
      3664 NE Ralph Powell Rd, Lees Summit, MO 64064
      View Details
    • Contact for pricing
      48,704 SF

      Lee's Summit Medical Office Space

      Class A medical office suites available.
      1810 Douglas St, Lee's Summit, MO 64064
      View Details
    • Contact for pricing
      78,650 SF

      Lakewood Warehouse Space Available

      Modern industrial warehouse; ample parking.
      0 Maguire Blvd, Lee's Summit, MO 64064
      View Details
    • $22 SF/Yr
      15,700 SF

      Lee's Summit Medical Office Space

      15,700 SF Medical Office Building, 4,350 SF Available
      2741 Mcbaine Dr, Lee's Summit, MO 64064
      View Details
    • $20 SF/Yr
      3,026 SF

      Medical Office Space Available

      Lease available for medical office space with exam rooms.
      3490-3490 NE Ralph Powell Rd, Lees Summit, MO 64064
      View Details
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    2320 Independence Ave
    Lees Summit, MO 64064-2320
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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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