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

    6950 56th St Mission, KS 66202-2590

    • Office Properties & Spaces
    • 11,636 SF
    • 0.67 lot acres
    OFF-MARKET
    Last Sale
    Dec 06, 2023
    Value Estimations
    $565,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US33-0813971
    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

    • Office Properties & Spaces

    Property Details for 6950 56th St

    Year built
    1987
    Construction
    FRAME
    Lot size
    0.67 lot acres
    Property size
    11,636 SF
    Zone code
    CPO
    Property type
    Office Properties & Spaces
    APN
    KF251208-1027
    APU
    KF2512081027

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $555,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $574,000
      Market price range: $287k - $953k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $645,000
      Current use
      AUTO REPAIR, GARAGE
      $870,000
      Change: +36% Conversion: Difficult
      RETAIL STORES
      $625,000
      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
    -94.6661
    Latitude
    39.0275
    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
    $24,927
    $66,018
    $130,233
    $196,251
    -
    $264,070
    $520,930
    $785,000

    Comparable in this City

    • Value Estimation
      $410,000
      5.58 Acres

      Overland Park, KS 66202

      OFFICE (GENERAL) • 5.58 Acres
      Overland Park, KS 66202
      View Details
    • Value Estimation by Request
      65,910 SF

      6900 Squibb Rd

      OFFICE (GENERAL) • 65,910 SF
      6900 Squibb Rd, Mission, KS 66202-3247
      View Details
    • Value Estimation
      $580,000
      15,233 SF

      5829 Outlook St

      OFFICE (GENERAL) • 15,233 SF
      5829 Outlook St, Mission, KS 66202
      View Details
    • Value Estimation
      $345,000
      6,448 SF

      5925 Nall Ave

      OFFICE (GENERAL) • 6,448 SF
      5925 Nall Ave, Mission, KS 66202-3403
      View Details
    • Value Estimation
      $365,000
      7,040 SF

      5800 Outlook St

      OFFICE (GENERAL) • 7,040 SF
      5800 Outlook St, Mission, KS 66202-2733
      View Details
    • Value Estimation
      $345,000
      4,655 SF

      7021 Johnson Dr

      OFFICE (GENERAL) • 4,655 SF
      7021 Johnson Dr, Mission, KS 66202-2324
      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
    • $1,300,000
      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
    • $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
    • $150,000

      Mission, KS Residential Lot

      Prime Mission location, build your dream home.
      6615 Florence St, Mission, KS 66202
      View Details
    • Contact for pricing

      Land For Sale Merriam, Kansas

      Land available for sale in Merriam, Kansas.
      5452 Antioch Rd, Merriam, KS 66202
      View Details
    • $200,000
      Pending

      Land in Prime Mission Location

      Land for sale in an established, treed Mission neighborhood.
      6610 Florence St, Mission, KS 66202
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      186,010 SF

      Mission Executive Office Space

      Prime Mission, KS Office Suites Available
      5700 Broadmoor St, Mission, KS 66202
      View Details
    • $20 SF/Yr
      2,531 SF

      Mission, KS Executive Office Suite

      900 SF Office Space Available - Lease Now
      5905 Slater St, Merriam, KS 66202
      View Details
    • $12 SF/Yr
      20,023 SF

      Mission West: Medical Office Space

      Prime Medical Office Space Available in Mission, KS
      6500 Martway St, Mission, KS 66202
      View Details
    • $20 SF/Yr
      261,086 SF

      SUMMIT52: Overland Park Office Space

      Overland Park office, flexible suites, ample parking.
      5200 Metcalf Ave, Overland Park, 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
    • $21 SF/Yr
      824 SF

      Mission Office Space For Rent

      Office space in a 10-building, 400,000 square foot park.
      6405 Metcalf Ave, Mission, KS 66202
      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.
    6950 56th St
    Mission, KS 66202-2590
    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.