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

    3618 Prospect Ave Kansas City, MO 64117

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US48-0734702
    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

    • Commercial real estate

    Property Details for 3618 Prospect Ave

    Property type
    Commercial real estate

    Description

    This exceptional 27,878 square foot lot presents a unique opportunity to build your dream home in a desirable Kansas City, Missouri location. Situated at 3618 N Prospect Avenue, in Clay County, zip code 64117, this large, treed lot offers ample space for a substantial residence. The property boasts convenient access to essential utilities, including water, electricity, gas, and cable, simplifying the construction process. The peaceful setting at the end of a quiet neighborhood street provides a tranquil atmosphere, while remaining conveniently located. Commuters will appreciate the proximity to NKC Hospital, less than an eight-minute drive away. This property is ideal for those seeking a spacious lot in a peaceful neighborhood with easy access to amenities and healthcare. The address is verified as 3618 N Prospect Avenue, Kansas City, MO 64117. The asking price for this remarkable residential lot is $35,000. The property is classified as land for special purposes, specifically residential and recreational use. This is a rare opportunity to acquire a substantial lot in a highly sought-after area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Kansas City
    County
    Clay
    State
    Missouri
    Longitude
    -94.5315029
    Latitude
    39.160078

    Comparable in this City

    • $65,000
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      Kansas City Multifamily Investment

      1.3-Acre Apartment Building Opportunity
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    • $918,000
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      Antioch Manor: 108-Unit Potential

      Prime KC residential land, approved development plan.
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    • $100,000
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      Kansas City Multifamily Development Opportunity

      Prime 0.19-acre lot, build-to-suit option.
      6532 44Th St, Kansas City, MO 64117
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    • New
      $745,000
      0.18 Acres

      Kansas City Multifamily Investment Opportunity

      Multifamily property in North Kansas City, part of a package.
      4136 N Kansas Ave, Kansas City, MO 64117
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      Development Ready Land Available

      3.28 acres near major attractions and businesses.
      6801 NE Parvin Rd, Kansas City, MO 64117
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    • $75,000
      1.85 Acres

      Land in Kansas City, MO

      Corner lot with potential for residential or multi-family development.
      3706 N Cleveland Ave, Kansas City, MO 64117
      View Details

    Similar Nearby for Sale

    • $100,000
      0.19 Acres

      Kansas City Multifamily Development Opportunity

      Prime 0.19-acre lot, build-to-suit option.
      6532 44Th St, Kansas City, MO 64117
      View Details
    • $65,000
      1.30 Acres

      Kansas City Multifamily Investment

      1.3-Acre Apartment Building Opportunity
      3737 Brighton Ave, Kansas City, MO 64117
      View Details
    • $918,000
      3.71 Acres

      Antioch Manor: 108-Unit Potential

      Prime KC residential land, approved development plan.
      0 Antioch Rd, Kansas City, MO 64117
      View Details
    • New
      $745,000
      0.18 Acres

      Kansas City Multifamily Investment Opportunity

      Multifamily property in North Kansas City, part of a package.
      4136 N Kansas Ave, Kansas City, MO 64117
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    • Contact for pricing

      Development Ready Land Available

      3.28 acres near major attractions and businesses.
      6801 NE Parvin Rd, Kansas City, MO 64117
      View Details
    • Contact for pricing

      Prime KC Land: Parvin & Bennington

      4.3 Acres, I-435 Access, R-0.5 Zoning
      0 Parvin Rd & Bennington Ave, Kansas City, MO 64117
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      188 Acres for Development

      188 acres available for development with build-to-suit options.
      9501 NE Parvin Rd, Kansas City, MO 64117
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    • $7 SF/Yr
      35,070 SF

      Industrial Space in Kansas City

      Industrial property with 35,070 square feet available for rent.
      2610 NE Industrial Dr, Kansas City, MO 64117
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    • $3,400,000
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      Prime Commercial Space For Lease

      Commercial space with ample parking and easy transportation access.
      5006-5028 NE Parvin Rd, Kansas City, MO 64117
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    • Contact for pricing
      27,157 SF

      Industrial Space Near Transportation Hubs

      Industrial space available for lease near major transportation routes.
      9651-9701 NE Parvin Rd, Kansas City, MO 64117
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    • Contact for pricing
      163,317 SF

      Distribution Building with Cross-Dock Configuration

      245,507 SF distribution building featuring cross-dock configuration.
      5710-5870 NW 41St St, Riverside, MO 64117
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    3618 Prospect Ave
    Kansas City, MO 64117
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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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