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

    5023 Silver Ave Kansas City, KS 66106

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US33-0641511
    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 5023 Silver Ave

    Property type
    Commercial real estate

    Description

    This exceptional 9,583 square foot residential land parcel is ideally situated in Kansas City, Kansas, at 5023 Silver Avenue, zip code 66106. Located in the desirable Turner area, this property offers a tranquil setting with easy access to major thoroughfares like 635 and Kansas Avenue. The lot's secluded nature provides privacy, while its proximity to amenities ensures convenience. Nearby recreational opportunities include Leo Alvey and Pierson Parks, and families will appreciate the close proximity to Turner Elementary School. Commuters will value the quick 15-minute drive to downtown Kansas City. This property is part of a larger parcel; a neighboring corner lot at 1527 S 51st St is available separately. The asking price for this prime piece of land is $35,000. This represents a fantastic opportunity to build your dream home in a peaceful yet accessible location. The property is in Wyandotte County and boasts a significant lot size, perfect for a variety of residential construction projects. Don't miss this chance to acquire this desirable residential land in a thriving Kansas City neighborhood.

    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
    Wyandotte
    State
    Kansas
    Longitude
    -94.695261
    Latitude
    39.072085

    Comparable in this City

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      Kansas City Duplex Opportunity

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    Similar Nearby for Sale

    • Contact for pricing

      Kansas City Residential Land - $29,900

      Buildable Lot, Utilities Connected, Secluded
      3810 Lust Dr, Kansas City, KS 66106
      View Details
    • $360,000
      75.49 Acres

      75 Acres Kansas City Land

      Wooded acreage, prime development potential.
      6907-6908 County Line Rd, Kansas City, KS 66106
      View Details
    • $2,300,000
      19,320 SF

      Turnkey 22-Unit Apartment Building

      Cash-flowing 22-unit apartment building with recent renovations in Kansas City.
      1302 South 32Nd St, Kansas City, KS 66106
      View Details
    • $175,000
      1,144 SF

      Inviting Half-Duplex with Backyard Deck

      Comfortable half-duplex with open living area and backyard deck.
      5607 Crest Dr, Kansas City, KS 66106
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    • $289,000
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      Duplex in Great Kansas City Location

      Excellent duplex with long-term tenants and recent updates.
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    • $120,000
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      Kansas City Duplex Opportunity

      Duplex in Kansas City, Kansas, with potential for rental income.
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    Similar Nearby for Lease

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      Retail and Residential Kansas City

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      Industrial Land for Lease

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      Land available for rent in Kansas City, Kansas.
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      Commercial land available for rent, utilities to site.
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      Retail Spaces Available for Lease

      Retail spaces available in a highly visible Kansas City location.
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    • $3 SF/Yr
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      Kansas City Industrial Space Available

      Industrial property available for rent in Kansas City, Kansas.
      5300 Kansas Ave, Kansas City, KS 66106
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    5023 Silver Ave
    Kansas City, KS 66106
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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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