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    Property profile & analytics

    8935 State Ave Kansas City, KS 66112

    • Medical offices
    • 15,499 SF
    • 2.97 lot acres
    For Sale
    View listing
    $4,400,000
    Last Sale
    Apr 04, 2024
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US33-0464466
    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

    • Dr. Phyllis L. Steer, MD / Physician
    • Thedinger Bradley S MD / Physician

    Property Details for 8935 State Ave

    Year built
    1999
    Construction
    BRICK
    Lot size
    2.97 lot acres
    Property size
    15,499 SF
    Property type
    Medical offices
    Property subtype
    Medical space
    APN
    218502
    APU
    218502

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $685,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $895,000
      Market price range: $685k - $1.43M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,080,000
      Current use
      COMMERCIAL (GENERAL)
      $1,310,000
      Change: +21% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $1,065,000
      Change: -2% Conversion: Moderate
      INDUSTRIAL (GENERAL)
      $1,055,000
      Change: -2% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Kansas City
    County
    Wyandotte
    State
    Kansas
    Longitude
    -94.7877
    Latitude
    39.1157
    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
    $63,736
    $83,410
    $304,185
    $387,595
    -
    $333,640
    $1,216,740
    $1,550,380

    Comparable in this City

    • Value Estimation
      $5,460,000
      65,474 SF

      8919 Parallel Pkwy

      DENTAL BUILDING • 65,474 SF
      8919 Parallel Pkwy, Kansas City, KS 66112-1636
      View Details
    • Value Estimation
      $760,000
      12,296 SF

      1150 75th Pl

      DENTAL BUILDING • 12,296 SF
      1150 75th Pl, Kansas City, KS 66112-2430
      View Details
    • Value Estimation by Request
      2,344 SF

      8915 State Ave

      DENTAL BUILDING • 2,344 SF
      8915 State Ave, Kansas City, KS 66112-1645
      View Details
    • Value Estimation by Request
      9,804 SF

      8101 Parallel Pkwy

      DENTAL BUILDING • 9,804 SF
      8101 Parallel Pkwy, Kansas City, KS 66112-2051
      View Details
    • Value Estimation
      $530,000
      3,500 SF

      7524 State Ave

      DENTAL BUILDING • 3,500 SF
      7524 State Ave, Kansas City, KS 66112-2816
      View Details
    • Value Estimation by Request
      7,390 SF

      9000 State Ave

      DENTAL BUILDING • 7,390 SF
      9000 State Ave, Kansas City, KS 66112-1533
      View Details

    Similar Nearby for Sale

    • $1,850,000
      12,000 SF

      Family Medical Building, Kansas City

      12,000 SF Medical Office, Vacant, $1.85M
      1150 75Th Pl, Kansas City, KS 66112
      View Details
    • $4,400,000
      13,967 SF

      Kansas City Medical Office Building

      Vacant medical office building with surplus land for development.
      8935 State Ave, Kansas City, KS 66112
      View Details
    • $1,200,000
      12,000 SF

      Kansas City Medical Office Building

      Modern 12,000 SF medical office building in Kansas City.
      1150 N 75Th Pl, Kansas City, KS 66112
      View Details
    • $780,000
      11,290 SF

      Office and Daycare Building

      Well-maintained building with office and daycare spaces, ample parking.
      8047 Parallel Pkwy, Kansas City, KS 66112
      View Details
    • $450,000
      0.30 Acres

      Corner Commercial Property in Kansas

      Commercial property with retail and office space, potential for multiple uses.
      7502 Nebraska Ave, Kansas City, KS 66112
      View Details
    • New
      $275,000
      1.03 Acres

      Kansas City Office Building For Sale

      Free-standing office building in high-demand Kansas City, KS corridor.
      1977 N 77Th St, Kansas City, KS 66112
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      104,342 SF

      Medical Office Space for Rent

      Medical office space available within Providence Medical Center Campus.
      8919 Parallel Pkwy, Kansas City, KS 66112
      View Details
    • Contact for pricing
      4,200 SF

      Westfield Shopping Center Retail Space

      Kansas City retail space, multiple units available.
      8027-8159 State Ave, 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
    • Contact for pricing
      2,520 SF

      Prime KCKS Retail Space For Lease

      2,520 SF Retail Space, 36 Parking Spots
      7833 State Ave, Kansas City, KS 66112
      View Details
    • 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
    • $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
      View Details
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    8935 State Ave
    Kansas City, KS 66112
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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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