Add Listing
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

    2931 Independence Ave Lees Summit, MO 64064-2309

    • Office buildings
    • 5,016 SF
    • 0.90 lot acres
    OFF-MARKET
    Value Estimations
    $645,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US48-1023376
    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

    • Kansas City Facial & Oral Surgery / Dental Office
    • Dr. Gregory Lohr / Dental Office
    • Dr. Brian Hollabaugh / Dental Office
    • Gregory Dean Lohr / Dental Office

    Property Details for 2931 Independence Ave

    Year built
    2020
    Lot size
    0.90 lot acres
    Property size
    5,016 SF
    Property type
    Office buildings
    APN
    52-200-01-42
    APU
    522000142

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $410,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $945,000
      6.5%
      $870,000
      7%
      $810,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $659,000
      Market price range: $233k - $659k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $470,000
      Current use
      COMMERCIAL (GENERAL)
      $890,000
      Change: +89% Conversion: Easy
      RETAIL STORES
      $630,000
      Change: +34% Conversion: Moderate
      RESTAURANT
      $575,000
      Change: +22% Conversion: Moderate
      INDUSTRIAL (GENERAL)
      $555,000
      Change: +18% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $520,000
      Change: +10% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $510,000
      Change: +9% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Lees Summit
    County
    Jackson
    State
    Missouri
    Longitude
    -94.3599
    Latitude
    38.9664
    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
    $34,077
    $120,000
    $276,000
    $396,000
    -
    $0.00
    $0.00
    $1,237,500

    Comparable in this City

    • Value Estimation by Request
      6,936 SF

      3387 Ralph Powell Rd

      OFFICE BUILDING • 6,936 SF
      3387 Ralph Powell Rd, Lees Summit, MO 64064-2368
      View Details
    • Value Estimation by Request
      900 SF

      3751 Ralph Powell Rd

      OFFICE BUILDING • 900 SF
      3751 Ralph Powell Rd, Lees Summit, MO 64064-2349
      View Details
    • Value Estimation by Request
      2,470 SF

      3465 Ralph Powell Rd

      OFFICE BUILDING • 2,470 SF
      3465 Ralph Powell Rd, Lees Summit, MO 64064-2361
      View Details
    • Value Estimation
      $1,140,000
      7,488 SF

      4001 Lakewood Ct

      OFFICE BUILDING • 7,488 SF
      4001 Lakewood Ct, Lees Summit, MO 64064-1715
      View Details
    • Value Estimation
      $2,655,000
      26,951 SF

      3621 Akin Dr

      OFFICE BUILDING • 26,951 SF
      3621 Akin Dr, Lees Summit, MO 64064-7828
      View Details
    • Value Estimation
      $855,000
      6,820 SF

      3215 Carnegie Dr Ste, Unit 100

      OFFICE BUILDING • 6,820 SF
      3215 Carnegie Dr Ste, Lees Summit, MO 64064-3216
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      26,895 SF

      Lee's Summit Office Building

      26,895 SF office building in high-growth area.
      4901 NE Lakewood Way, Lees Summit, MO 64064
      View Details
    • Contact for pricing
      5,100 SF

      Medical Office Space Available

      Medical office space available for lease in Lee's Summit.
      Lees Summit, MO 64064
      View Details
    • Contact for pricing
      9.10 Acres

      Lee's Summit Commercial Land

      9.1 Acres, Prime Development Site
      0 Douglas St, Lee's Summit, MO 64064
      View Details
    • 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
    • $225,000

      Move-in Ready End-Unit Home

      Comfortable end-unit home with remodeled kitchen, private deck, and unfinished basement.
      5736 NW Plantation Ln, Lees Summit, MO 64064
      View Details
    • $795,000
      1.20 Acres

      Lee's Summit Commercial Land - $795K

      1.2-acre mixed-use lot, prime location.
      2911 Independence Ave, Lee's Summit, MO 64064
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      26,000 SF

      19401 Us Highway 40

      Office properties & Spaces • 26,000 SF
      19401 Us Highway 40, Independence, 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
    • Contact for pricing
      18,000 SF

      Lakewood Way Executive Suites

      Lee's Summit, MO Office Space Available
      4031 Lakewood Way, Lee's Summit, MO 64064
      View Details
    • Contact for pricing
      6,560 SF

      Medical Office Space For Lease

      Class B medical office building with attractive clinic setting.
      3601 NE Ralph Powell Rd, Lees Summit, MO 64064
      View Details
    • $29 SF/Yr
      2,620 SF

      Prime Office Building, Ralph Powell Rd.

      Single-Tenant Office, 2620 sq ft, Ideal Location
      3500 Ralph Powell Rd, Lee's 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
    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.
    2931 Independence Ave
    Lees Summit, MO 64064-2309
    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.
    Sign Up Successful!
    You now have access to more from Realmo!