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    241 78th St Kansas City, KS 66112
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    Property profile & analytics

    241 78th St, Kansas City, KS 66112

    View on Map
    • Warehouses
    • 13,805 SF
    • 3.97 lot acres
    Off-Market
    Last Sale Feb 26, 2024
    Property ID
    US33-0617135
    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
    $760,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 241 78th St

    Year built
    2006
    Lot size
    3.97 lot acres
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    290600
    APU
    290600

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 26, 2024 — Nsa 110 V Jv Po LLC Nsa Property Holdings LLC Special Warranty Deed $210M · The Prudential Insurance Company Of
    Jan 17, 2012 — 78th Street Self Storage LLC Quality Properties Asset Management Special Warranty Deed $1.2M · Great American Bank
    Mar 24, 2011 $1,045,000 Quality Properties Asset Management Ss 78th Street LLC Sheriffs Deed · related —
    Feb 10, 2006 — Ss 78th Street LLC Smith Asset Management LLC Warranty Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $625,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $892,000
      Market price range: $352k - $893k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $600,000
      Current use
      COMMERCIAL (GENERAL)
      $1,170,000
      Change: +95% Conversion: Difficult
      MEDICAL BUILDING
      $960,000
      Change: +61% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $945,000
      Change: +58% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Kansas City
    County
    Wyandotte
    State
    Kansas
    Longitude
    -94.7588
    Latitude
    39.1035
    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
    $152,065
    $125,983
    $798,768
    $924,751
    -
    $503,930
    $3,195,070
    $3,699,000

    Comparable in this City

    • Value Estimation
      $2,155,000
      67,081 SF

      7401 State Ave

      MINI-WAREHOUSE, STORAGE
      7401 State Ave, Kansas City, KS 66112-3035
      View Details
    • Value Estimation by Request
      2,400 SF

      7221 State Ave

      MINI-WAREHOUSE, STORAGE
      7221 State Ave, Kansas City, KS 66112-3002
      View Details
    • Value Estimation by Request
      6,792 SF

      8525 Parallel Pkwy

      WAREHOUSE, STORAGE
      8525 Parallel Pkwy, Kansas City, KS 66112-1746
      View Details
    • Value Estimation by Request
      1,800 SF

      8115 Riverview Ave

      WAREHOUSE, STORAGE
      8115 Riverview Ave, Kansas City, KS 66112-2731
      View Details
    • Value Estimation by Request
      10.01 Acres

      851 74Th Dr

      Land
      851 74Th Dr, Kansas City, KS 66112
      View Details
    • Value Estimation by Request
      3.90 Acres

      7542 Riverview Ave

      Land
      7542 Riverview Ave, Kansas City, KS 66112
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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      21.5 acres suitable for housing, logistics, or recreational development.
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      View Details
    • $47,500
      0.92 Acres

      Residential Land in Normandy Estates

      Secluded 0.92-acre lot, ideal for building a dream home.
      8047 R Parallel Pkwy, Kansas City, KS 66112
      View Details
    • $595,900
      Pending

      Development Land on State Avenue

      Approximately 11 acres of land suitable for development.
      9007 State Ave, Kansas City, KS 66112
      View Details
    • Contact for pricing

      5 Acre Corner Lot Available

      Corner lot with high visibility and development potential.
      7161 State Ave, Kansas City, KS 66112
      View Details
    • $235,000
      Pending

      Remodeled Duplex with Modern Amenities

      Completely remodeled duplex with stainless appliances and finished basement.
      8853 Ann Ave, Kansas City, KS 66112
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,980 SF

      Retail Space in West State

      Inline retail spaces available in Kansas City, Kansas.
      7523-7535 State Ave, Kansas City, KS 66112
      View Details
    • Contact for pricing
      960 SF

      Retail Space on Parallel Parkway

      Retail spaces available in refreshed Kansas City strip center.
      8121-8147 Parallel Pkwy, Kansas City, KS 66112
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space on State Avenue

      Retail space with frontage on high-traffic State Avenue.
      7933 State Ave, Kansas City, KS 66112
      View Details
    • Contact for pricing

      High Visibility Corner Retail Space

      Corner lot retail space with high visibility, near grocery store.
      8042 Parallel Pkwy, Kansas City, KS 66112
      View Details
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    241 78th St
    Kansas City, KS 66112
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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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