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

    700 23rd S St Independence, MO 64055-1507

    • Turn key restaurants
    • 454 SF
    • 0.37 lot acres
    OFF-MARKET
    Last Sale
    Jan 22, 2025
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US48-0512976
    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

    • Mugs-Up Root Beer / Restaurant / Take-out & Catering

    Property Details for 700 23rd S St

    Year built
    1970
    Construction
    WOOD
    Lot size
    0.37 lot acres
    Property size
    454 SF
    Property type
    Turn key restaurants
    APN
    26-510-19-12
    APU
    265101912

    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
    Independence
    County
    Jackson
    State
    Missouri
    Longitude
    -94.4066
    Latitude
    39.0792
    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
    2024
    $2,792
    $30,592
    $3,424
    $34,016
    -
    $0.00
    $0.00
    $106,300

    Comparable in this City

    • Value Estimation by Request
      2,386 SF

      19520 Us Hwy 40

      RESTAURANT • 2,386 SF
      19520 Us Hwy 40, Independence, MO 64055-5461
      View Details
    • Value Estimation by Request
      2,383 SF

      4515 Noland Rd

      RESTAURANT • 2,383 SF
      4515 Noland Rd, Independence, MO 64055-4744
      View Details
    • Value Estimation by Request
      1,852 SF

      1348 Noland Rd

      RESTAURANT • 1,852 SF
      1348 Noland Rd, Independence, MO 64055-1328
      View Details
    • Value Estimation by Request
      3,427 SF

      4011 Noland Rd

      RESTAURANT • 3,427 SF
      4011 Noland Rd, Independence, MO 64055-3348
      View Details
    • Value Estimation by Request
      2,961 SF

      4242 Noland Rd

      RESTAURANT • 2,961 SF
      4242 Noland Rd, Independence, MO 64055-4792
      View Details
    • Value Estimation by Request
      6,060 SF

      17221 32nd S St

      RESTAURANT • 6,060 SF
      17221 32nd S St, Independence, MO 64055
      View Details

    Similar Nearby for Sale

    • $550,000

      Prime Independence Restaurant Opportunity

      Established Restaurant, High Traffic Area
      10690 Us Hwy 40 Hwy, Independence, MO 64055
      View Details
    • $1,300,000
      6,700 SF

      Retail Pad Site Opportunity

      Retail space available in high-traffic area near major retailers.
      3945 Bolger Rd, Independence, MO 64055
      View Details
    • $750,000
      3,724 SF

      Prime Independence Restaurant - $750K

      Freestanding Steak 'n Shake, high traffic location.
      13621 40Th St, Independence, MO 64055
      View Details
    • Contact for pricing
      5,195 SF

      Prime Restaurant Space, Independence, MO

      5,195 SF Restaurant, High Visibility, Hwy 40
      14001 Us Highway 40, Independence, MO 64055
      View Details
    • Contact for pricing
      392,500 SF

      Noland Fashion Square: Retail Portfolio

      Prime Missouri Retail Center: Multi-Building Opportunity
      40 Hwy & Noland Rd, Independence, MO 64055
      View Details
    • $1,500,000
      3,000 SF

      Retail Building in High-Traffic Area

      3,000 SF building on a shopping center pad.
      13720 E Us Highway 40, Independence, MO 64055
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      9,598 SF

      Restaurant Space Near Bass Pro

      Fully equipped restaurant space with high visibility and traffic.
      18201 Bass Pro Dr, Independence, MO 64055
      View Details
    • Contact for pricing
      2,000 SF

      Noland Road Retail Space Available

      Prime Independence Retail Space, 2,000 SF
      3709 Noland Rd, Independence, MO 64055
      View Details
    • Contact for pricing
      1,600 SF

      Retail/Medical Space on Highway 40

      Retail or medical spaces available for lease on Highway 40.
      17000 E Us Highway 40, Independence, MO 64055
      View Details
    • $175,000
      4,585 SF

      Retail End Cap with Auto

      4,585 SF retail end cap with auto features available.
      13208 E Us Highway 40, Independence, MO 64055
      View Details
    • Contact for pricing
      6,723 SF

      Retail Space on Noland Road

      Retail property available for lease in Independence, Missouri.
      4201-42017 S Noland Rd, Independence, MO 64055
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space on Noland Road

      2,000 SF retail space with high visibility available for lease.
      3801 S Noland Rd, Independence, MO 64055
      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.
    700 23rd S St
    Independence, MO 64055-1507
    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.