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    7401 State Ave Kansas City, KS 66112-3035
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    Property profile & analytics

    7401 State Ave, Kansas City, KS 66112-3035

    View on Map
    • Warehouses
    • 67,081 SF
    • 7.19 lot acres
    Off-Market
    Property ID
    US33-0453117
    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.
    Value Estimations
    $2,155,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • StorageMart / Storage Facility
    • Value Fireworks / Discount Store / Party Supply Store

    Property Details for 7401 State Ave

    Year built
    1977
    Lot size
    7.19 lot acres
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    224300
    APU
    224300

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 26, 2023 — New Tkg Storagemart Partners Portfo — Deed · related $127.5M · Citi Real Estate Funding LLC
    Dec 28, 2018 — New Tkg Storagemart Partners Portfo New Tkg Kc LLC Warranty Deed $644.1M · Citi Real Estate Funding INC
    Nov 25, 2014 $4,333,162 New Tkg Kc LLC Kck Safety Stroage LLC Warranty Deed $60k · Wells Fargo Bank NA
    Aug 8, 2012 — Unified Government Of Wyandotte Cou Kck Safety Storage LLC Warranty Deed —
    Jun 13, 2008 — Kck Safety Storage LLC Asap State Avenue Lc Corporation Deed $3.2M · Security Savings Bank Fsb

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $2,910,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Kansas City
    County
    Wyandotte
    State
    Kansas
    Longitude
    -94.7527
    Latitude
    39.1155
    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
    $134,182
    $121,483
    $694,518
    $816,001
    -
    $485,930
    $2,778,070
    $3,264,000

    Comparable in this City

    • Value Estimation
      $760,000
      13,805 SF

      241 78th St

      MINI-WAREHOUSE, STORAGE
      241 78th St, Kansas City, KS 66112
      View Details
    • Value Estimation by Request
      2,400 SF

      7221 State Ave

      MINI-WAREHOUSE, STORAGE
      7221 State Ave, Kansas City, KS 66112-3002
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    • Value Estimation by Request
      6,792 SF

      8525 Parallel Pkwy

      WAREHOUSE, STORAGE
      8525 Parallel Pkwy, Kansas City, KS 66112-1746
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    • Value Estimation by Request
      1,800 SF

      8115 Riverview Ave

      WAREHOUSE, STORAGE
      8115 Riverview Ave, Kansas City, KS 66112-2731
      View Details
    • Value Estimation by Request
      10.01 Acres

      851 74Th Dr

      Land
      851 74Th Dr, Kansas City, KS 66112
      View Details
    • Value Estimation by Request
      3.90 Acres

      7542 Riverview Ave

      Land
      7542 Riverview Ave, Kansas City, KS 66112
      View Details

    Similar Nearby for Sale

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      Pending

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      Completely remodeled duplex with stainless appliances and finished basement.
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    • $595,900
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      Development Land on State Avenue

      10.97 acres of land ready for development.
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    • New
      $350,000
      0.30 Acres

      Mixed-Use Corner Commercial Building

      Corner commercial building with remodeled office and retail space plus multiple entry points and substantial parking options.
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      11,290 SF

      Office and Daycare Building

      Well-maintained building with office and daycare spaces, ample parking.
      8047 Parallel Pkwy, Kansas City, KS 66112
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      2,425 SF

      Retail Property in Kansas City

      Retail property available for sale, totaling 2,425 square feet.
      1919 N 78Th St, Kansas City, KS 66112
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,980 SF

      Retail Space in West State

      Inline retail spaces available in Kansas City, Kansas.
      7523-7535 State Ave, Kansas City, KS 66112
      View Details
    • Contact for pricing
      960 SF

      Retail Space on Parallel Parkway

      Retail spaces available in refreshed Kansas City strip center.
      8121-8147 Parallel Pkwy, Kansas City, KS 66112
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space on State Avenue

      Retail space with frontage on high-traffic State Avenue.
      7933 State Ave, Kansas City, KS 66112
      View Details
    • Contact for pricing

      High Visibility Corner Retail Space

      Corner lot retail space with high visibility, near grocery store.
      8042 Parallel Pkwy, Kansas City, KS 66112
      View Details
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    Kansas City, KS 66112-3035
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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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