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

    307 E 23Rd St Independence, MO 64055

    • Office buildings
    • 1,104 SF
    • 0.20 lot acres
    For Sale
    View listing
    $250,000
    Last Sale
    Feb 23, 2022
    Value Estimations
    Cap Rate Potential
    6.4%
    Office buildings
    Location Intelligence
    Property ID
    US48-0662557
    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

    • Ace's Drain Cleaning Plus / Plumber

    Property Details for 307 E 23Rd St

    Year built
    1918
    Construction
    WOOD
    Lot size
    0.20 lot acres
    Property size
    1,104 SF
    Property type
    Office buildings
    APN
    26-540-06-05
    APU
    265400605

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $280,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $300,000
      6.5%
      $275,000
      7%
      $255,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Independence
    County
    Jackson
    State
    Missouri
    Longitude
    -94.4118
    Latitude
    39.0787
    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
    $2,692
    $18,816
    $13,984
    $32,800
    -
    $0.00
    $0.00
    $102,500

    Comparable in this City

    • Value Estimation
      $340,000
      3,276 SF

      4215 Hocker Dr

      OFFICE BUILDING • 3,276 SF
      4215 Hocker Dr, Independence, MO 64055-4723
      View Details
    • Value Estimation
      $285,000
      455 SF

      603 23rd S St

      OFFICE BUILDING • 455 SF
      603 23rd S St, Independence, MO 64055-1504
      View Details
    • Value Estimation
      $345,000
      1,506 SF

      4224 Hocker Dr Ste, Unit 100

      OFFICE BUILDING • 1,506 SF
      4224 Hocker Dr Ste, Independence, MO 64055-4762
      View Details
    • Value Estimation
      $320,000
      3,465 SF

      615 23rd S St

      OFFICE BUILDING • 3,465 SF
      615 23rd S St, Independence, MO 64055-1504
      View Details
    • Value Estimation
      $300,000
      960 SF

      17309 32nd S St

      OFFICE BUILDING • 960 SF
      17309 32nd S St, Independence, MO 64055-2854
      View Details
    • Value Estimation
      $345,000
      3,480 SF

      2601 Hub Dr

      OFFICE BUILDING • 3,480 SF
      2601 Hub Dr, Independence, MO 64055-2019
      View Details

    Similar Nearby for Sale

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      Remodeled Office Building For Sale

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      Office Building Sale Leaseback Opportunity

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      Established Vet Practice, Great Opportunity
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      Prime Independence Commercial Space

      Versatile 20,000 sq ft building, great location.
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    • $449,000
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      Prime Office Building, Independence, MO

      High-visibility office, ample parking, owner financing possible.
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      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,616 SF

      Office Space Near I-70/I-470

      Centrally located office space with good highway visibility.
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      View Details
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      1,361 SF

      Office Space with Private Restroom

      Office space featuring private offices, restroom, and designated storage.
      14405 E 42Nd St S, Independence, MO 64055
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    • $25 SF/Yr
      50,010 SF

      Prime Medical Office Space in Independence, MO

      Class A Suites, 1,726 - 3,100 SF Available
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    • $13 SF/Yr
      1,237 SF

      Office Spaces Available in 2025

      Office spaces for rent with ample parking and updates.
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      View Details
    • $228 SF/Yr
      1,900 SF

      Prime Independence Medical Office Space

      1900 sq ft, Single-Tenant Office Condo
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      View Details
    • $10 SF/Yr
      13,839 SF

      Hidden Creek Office Complex

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      14401 42Nd St, Independence, MO 64055
      View Details
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    307 E 23Rd St
    Independence, MO 64055
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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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