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

    7705 Parallel Pkwy Kansas City, KS 66112-2034

    • Grocery and convenience stores
    • 1,769 SF
    • 0.45 lot acres
    OFF-MARKET
    Last Sale
    May 18, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US33-0733549
    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

    • Krispy Krunchy Chicken / Pizza Restaurant / Fried Chicken Takeaway
    • bp / Convenience Store / Gas Station
    • Phillips 66 / Gas Station
    • Athena Bitcoin ATM / Atm / Crypto Atm
    • Bitcoin of America ATM / Atm

    Property Details for 7705 Parallel Pkwy

    Year built
    1961
    Construction
    BRICK
    Lot size
    0.45 lot acres
    Property size
    1,769 SF
    Property type
    Grocery and convenience stores
    APN
    928707
    APU
    928707

    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
    Kansas City
    County
    Wyandotte
    State
    Kansas
    Longitude
    -94.7576
    Latitude
    39.1283
    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
    $12,554
    $13,913
    $62,430
    $76,343
    -
    $55,650
    $249,720
    $305,370

    Comparable in this City

    • Value Estimation
      $1,015,000
      20,448 SF

      8140 Parallel Pkwy

      GROCERY, SUPERMARKET • 20,448 SF
      8140 Parallel Pkwy, Kansas City, KS 66112
      View Details
    • Value Estimation by Request
      3,252 SF

      8200 Parallel Pkwy

      CONVENIENCE STORE • 3,252 SF
      8200 Parallel Pkwy, Kansas City, KS 66112-1703
      View Details
    • Value Estimation
      $1,305,000
      27,950 SF

      8100 Parallel Pkwy

      GROCERY, SUPERMARKET • 27,950 SF
      8100 Parallel Pkwy, Kansas City, KS 66112
      View Details
    • Value Estimation
      $5,765,000
      66,296 SF

      7600 State Ave

      GROCERY, SUPERMARKET • 66,296 SF
      7600 State Ave, Kansas City, KS 66112-2818
      View Details
    • Value Estimation by Request
      2,964 SF

      7808 Splitlog Ave

      CONVENIENCE STORE • 2,964 SF
      7808 Splitlog Ave, Kansas City, KS 66112-2748
      View Details
    • Value Estimation
      $915,000
      5,759 SF

      555 78th St

      CONVENIENCE STORE • 5,759 SF
      555 78th St, Kansas City, KS 66112-2900
      View Details

    Similar Nearby for Sale

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      Retail Property in Kansas City

      Retail property available for sale, totaling 2,425 square feet.
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      0.55 Acres

      Kansas City QSR Opportunity

      High-traffic QSR building, 2,520 SF.
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      Kansas City Land - Prime Development Site

      9.44 Acres, R-1 Zoning, Excellent Location
      8346-8410 State Ave, Kansas City, KS 66112
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    Similar Nearby for Lease

    • $15 SF/Yr
      960 SF

      Retail Space on Parallel Parkway

      Retail spaces available in refreshed Kansas City strip center.
      8121-8147 Parallel Pkwy, Kansas City, KS 66112
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      880 SF

      Retail Space in West State

      Inline retail spaces available in Kansas City, Kansas.
      7523-7535 State Ave, Kansas City, KS 66112
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    • $14 SF/Yr
      1,600 SF

      Retail Space on State Avenue

      Retail space with frontage on high-traffic State Avenue.
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      2,520 SF

      Prime KCKS Retail Space For Lease

      2,520 SF Retail Space, 36 Parking Spots
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    • Contact for pricing
      1,300 SF

      Retail Space on Parallel Parkway

      Retail space with high visibility and ample parking available for rent.
      7700-7710 Parallel Pkwy, Kansas City, KS 66112
      View Details
    • Contact for pricing
      158,816 SF

      Kansas City Retail Center

      158,816 SF Shopping Center - Available Now
      7836 State Ave, Kansas City, KS 66112
      View Details
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    Kansas City, KS 66112-2034
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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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