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

    5960 Lamar Ave Mission, KS 66202-3231

    • Retail space
    • 6,988 SF
    • 0.43 lot acres
    OFF-MARKET
    Value Estimations
    $405,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US33-0362145
    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

    • Retail space

    Property Details for 5960 Lamar Ave

    Year built
    1971
    Construction
    FRAME
    Lot size
    0.43 lot acres
    Property size
    6,988 SF
    Zone code
    M1
    Property type
    Retail space
    APN
    KF251208-2036
    APU
    KF2512082036

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $430,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $375,000
      Market price range: $197k - $555k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $375,000
      Current use
      OFFICE BUILDING
      $620,000
      Change: +65% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $570,000
      Change: +52% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $525,000
      Change: +40% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $385,000
      Change: +3% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Mission
    County
    Johnson
    State
    Kansas
    Longitude
    -94.6588
    Latitude
    39.0206
    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
    $21,191
    $76,828
    $89,423
    $166,251
    -
    $307,310
    $357,690
    $665,000

    Comparable in this City

    • Value Estimation by Request
      0.22 Acres

      Mission, KS 66202

      RETAIL STORES (PERSONAL SERVICES) • 0.22 Acres
      Mission, KS 66202
      View Details
    • Value Estimation
      $1,340,000
      55,037 SF

      5945 Ikea Way

      RETAIL STORES (PERSONAL SERVICES) • 55,037 SF
      5945 Ikea Way, Mission, KS 66202-2807
      View Details
    • Value Estimation
      $365,000
      2,626 SF

      7709 Shawnee Msn Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 2,626 SF
      7709 Shawnee Msn Pkwy, Overland Park, KS 66202-3062
      View Details
    • Value Estimation
      $325,000
      2,136 SF

      7707 Shawnee Msn Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 2,136 SF
      7707 Shawnee Msn Pkwy, Overland Park, KS 66202
      View Details
    • Value Estimation
      $1,570,000
      603,370 SF

      6000 Ikea Way

      RETAIL STORES (PERSONAL SERVICES) • 603,370 SF
      6000 Ikea Way, Mission, KS 66202-2803
      View Details
    • Value Estimation
      $390,000
      3,726 SF

      5959 Broadmoor St

      RETAIL STORES (PERSONAL SERVICES) • 3,726 SF
      5959 Broadmoor St, Mission, KS 66202-3241
      View Details

    Similar Nearby for Sale

    • $1,500,000
      19,307 SF

      Mission, KS Office Complex

      Four-building office complex, redevelopment opportunity.
      8001 Shawnee Msn Pkwy, Merriam, KS 66202
      View Details
    • $1,750,000
      15,108 SF

      Mission, KS Retail Gem

      15,108 SF Retail Building - $1.75M
      4800 Lamar Ave, Mission, KS 66202
      View Details
    • $200,000

      Mission, KS Residential Lot

      Prime Mission location, 9,980 sq ft lot.
      6611 Florence St, Mission, KS 66202
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    • $2,100,000
      18,240 SF

      Shooting Range Complex For Sale

      Operating shooting range complex in Overland Park, Kansas.
      6201 Robinson St, Mission, KS 66202
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    • $150,000

      Mission, KS Residential Lot

      Prime Mission location, build your dream home.
      6615 Florence St, Mission, KS 66202
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    • $1,300,000
      19,307 SF

      Redevelopment Opportunity with Interim Cashflow

      Retail redevelopment opportunity with cashflow in Merriam, Kansas.
      8001-8115 Shawnee Msn Pkwy, Merriam, KS 66202
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      6,280 SF

      Retail Space in Mission, Kansas

      6,280 SF retail space available for lease.
      6840 Johnson Dr, Mission, KS 66202
      View Details
    • Contact for pricing
      4,351 SF

      Prime Retail Space in Mission

      Retail space in the heart of Mission, Kansas.
      7000 Johnson Dr, Mission, KS 66202
      View Details
    • $16 SF/Yr
      3,709 SF

      Retail Space on Johnson Drive

      Retail space with high visibility and ample parking.
      5801-5809 Johnson Dr, Mission, KS 66202
      View Details
    • $15 SF/Yr
      1,650 SF

      Retail Spaces in Mission

      Retail spaces available in a high-traffic Mission location.
      6500-6522 Martway St, Mission, KS 66202
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space Near Major Anchors

      Retail spaces available near IKEA, Home Depot, and Hobby Lobby.
      5925 Ikea Way, Mission, KS 66202
      View Details
    • $12 SF/Yr
      9,473 SF

      Versatile Retail Spaces Available

      Retail and medical spaces for lease in Mission, Kansas.
      6620-6753 Martway St, Mission, KS 66202
      View Details
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    Mission, KS 66202-3231
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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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