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

    6551 Miami Ave Kansas City, KS 66111

    • Parking lots & garages
    • 40,492 SF
    • 0.93 lot acres
    OFF-MARKET
    Value Estimations
    $600,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US33-0643677
    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

    • Parking lots & garages

    Property Details for 6551 Miami Ave

    Lot size
    0.93 lot acres
    Property size
    40,492 SF
    Property type
    Parking lots & garages
    APN
    233115
    APU
    233115

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $795,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $402,000
      Market price range: $130k - $796k

    • Alternative Use

      Use
      Estimation
      PARKING LOT
      $415,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Kansas City
    County
    Wyandotte
    State
    Kansas
    Longitude
    -94.7291
    Latitude
    39.0821
    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
    $4,910
    $24,788
    $4,003
    $28,791
    -
    $99,150
    $16,010
    $115,160

    Comparable in this City

    • Value Estimation
      $2,470,000
      523,825 SF

      6130 Kansas Ave

      PARKING LOT • 523,825 SF
      6130 Kansas Ave, Kansas City, KS 66111
      View Details
    • Value Estimation
      $1,750,000
      244,468 SF

      310 62nd St

      PARKING LOT • 244,468 SF
      310 62nd St, Kansas City, KS 66111-2158
      View Details
    • Value Estimation by Request
      17,206 SF

      7138 Kaw Dr

      PARKING LOT • 17,206 SF
      7138 Kaw Dr, Kansas City, KS 66111
      View Details
    • Value Estimation
      $540,000
      5.64 Acres

      10250 Cabela Dr

      PARKING LOT • 5.64 Acres
      10250 Cabela Dr, Kansas City, KS 66111
      View Details
    • Value Estimation
      $2,640,000
      220,283 SF

      10351 France Family Dr

      PARKING LOT • 220,283 SF
      10351 France Family Dr, Kansas City, KS 66111
      View Details
    • Value Estimation
      $4,675,000
      429,012 SF

      10917 Stadium Pkwy

      PARKING LOT • 429,012 SF
      10917 Stadium Pkwy, Kansas City, KS 66111
      View Details

    Similar Nearby for Sale

    • $600,000
      1.00 Acre

      Edwardsville Mixed-Use Investment Opportunity

      Prime 1-acre lot, I-70 & 110th St.
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      Prime Kansas City Storefront

      9,800 SF Retail Space, Vacant, Owner Financing
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    • $2,500,000
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      Retail Property Near Interstate 435

      Retail property with a new ten-year lease and strong guarantee.
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      Versatile Commercial Space on Kaw

      Office, warehouse, and showroom space with highway access.
      7164 Kaw Dr, Kansas City, KS 66111
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    • $600,000

      Commercial Land Near Tourist Attractions

      Land suitable for retail, office, hotel, and residential development.
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    • Contact for pricing
      40,016 SF

      Office Space Near Legends Center

      Office suites available with tenant improvement allowance and highway access.
      1601 N 98Th St, Kansas City, KS 66111
      View Details

    Similar Nearby for Lease

    • $8 SF/Yr
      14,800 SF

      Kansas City Retail Center

      Prime Retail Space Available Now
      11635 Kaw Dr, Kansas City, KS 66111
      View Details
    • $240 SF/Yr
      9,800 SF

      Legends Outlets Retail Gem

      High-profile Kansas City retail space
      10306 Troup Ave, Kansas City, KS 66111
      View Details
    • $6 SF/Yr
      11 SF

      Flex Space Available For Rent

      Flex space available with office and drive-in/dock doors.
      10947 Kaw Dr, Kansas City, KS 66111
      View Details
    • $600,000

      Prime Development Site Near Legends

      0.976 acre development site for sale or lease.
      814 N 98Th St, Kansas City, KS 66111
      View Details
    • Contact for pricing

      Land For Rent Kansas City

      Land available for rent in Kansas City, Kansas.
      325 S 62Nd St, Kansas City, KS 66111
      View Details
    • $2,000 /Mo

      Industrial Land with Outdoor Storage

      12.26 acres of industrial land for lease.
      6116 Speaker Rd, Kansas City, KS 66111
      View Details
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    6551 Miami Ave
    Kansas City, KS 66111
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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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