Sign Up Successful!
You now have access to more from Realmo!
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

    402 State Ave Kansas City, KS 66101-2402

    • Office buildings
    • 77,716 SF
    • 4.25 lot acres
    OFF-MARKET
    Value Estimations
    $6,910,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US33-0300574
    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

    • Vocational Rehabilitation / Social Services Organization
    • Kansas Department for Children and Families / Department Of Social Services

    Property Details for 402 State Ave

    Year built
    2008
    Construction
    FRAME
    Lot size
    4.25 lot acres
    Property size
    77,716 SF
    Property type
    Office buildings
    APN
    251703
    APU
    251703

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $6,704,000
      Market price range: $2.40M - $6.70M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $4,335,000
      Current use
      RETAIL STORES
      $7,170,000
      Change: +65% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $6,575,000
      Change: +52% Conversion: Easy
      MEDICAL BUILDING
      $5,415,000
      Change: +25% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $5,330,000
      Change: +23% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $5,295,000
      Change: +22% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Kansas City
    County
    Wyandotte
    State
    Kansas
    Longitude
    -94.6196
    Latitude
    39.1173
    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
    $305,865
    $22,008
    $1,724,343
    $1,746,351
    -
    $88,030
    $6,897,370
    $6,985,400

    Comparable in this City

    • Value Estimation
      $3,220,000
      57,722 SF

      700 Minnesota Ave

      OFFICE BUILDING • 57,722 SF
      700 Minnesota Ave, Kansas City, KS 66101-2704
      View Details
    • Value Estimation
      $3,930,000
      70,494 SF

      444 Minnesota Ave

      OFFICE BUILDING • 70,494 SF
      444 Minnesota Ave, Kansas City, KS 66101-2914
      View Details
    • Value Estimation
      $1,565,000
      28,076 SF

      1211 8th St

      OFFICE BUILDING • 28,076 SF
      1211 8th St, Kansas City, KS 66101-2129
      View Details
    • Value Estimation
      $810,000
      26,157 SF

      736 Minnesota Ave

      OFFICE BUILDING • 26,157 SF
      736 Minnesota Ave, Kansas City, KS 66101
      View Details
    • Value Estimation
      $570,000
      14,900 SF

      552 State Ave

      OFFICE BUILDING • 14,900 SF
      552 State Ave, Kansas City, KS 66101-2403
      View Details
    • Value Estimation by Request
      4,618 SF

      506 4th St

      OFFICE BUILDING • 4,618 SF
      506 4th St, Kansas City, KS 66101-2929
      View Details

    Similar Nearby for Sale

    • $750,000
      34,000 SF

      Historic Building Downtown Kansas City

      Two-story building suitable for sports, office, or multi-family conversion.
      1017 N 9Th St, Kansas City, KS 66101
      View Details
    • $1,300,000
      0.51 Acres

      Renovated Corner Commercial Building

      Two-story, fully renovated commercial building with versatile spaces and prime location.
      803 Armstrong Ave, Kansas City, KS 66101
      View Details
    • $2,500,000

      Kansas City Industrial Triple-Story

      Versatile Warehouse, Office, Retail Space
      200 6Th St, Kansas City, KS 66101
      View Details
    • $390,000
      0.49 Acres

      Downtown Kansas City Retail/Office

      Prime location, 45,000 sq ft, $390,000
      708 Minnesota Ave, Kansas City, KS 66101
      View Details
    • $2,500,000
      25,478 SF

      Kansas City Industrial Building

      Mixed-use, 250,478 SF, $2.5M
      200 6Th St, Kansas City, KS 66101
      View Details
    • $4,293,333
      8,400 SF

      Kansas City Medical Office

      Medical office space in Kansas City, Kansas for sale.
      700 Nebraska Ave, Kansas City, KS 66101
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      200 SF

      Downtown Kansas City Office Space

      Office space for lease in downtown Kansas City, Kansas.
      1017 N 6Th St, Kansas City, KS 66101
      View Details
    • $16 SF/Yr
      5,430 SF

      Kansas City Office Space Available

      Office space available for lease in Kansas City, Kansas.
      818 Ann Ave, Kansas City, KS 66101
      View Details
    • Contact for pricing
      40,000 SF

      Secured Parking Structure in KCK

      Secured parking structure with approximately 190 spaces for rent.
      625 State Ave, Kansas City, KS 66101
      View Details
    • $685 /Mo
      467 SF

      Kansas City Manufacturing/Warehouse Space

      Manufacturing/warehouse space with heavy power, central location, signage available.
      801-827 S 7Th St, Kansas City, KS 66101
      View Details
    • $4,000 /Mo
      12,197 SF

      Kansas City Mechanic Shop For Rent

      Mechanic shop in Central Commercial District of Kansas City.
      828 Minnesota Ave, Kansas City, KS 66101
      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.
    402 State Ave
    Kansas City, KS 66101-2402
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.