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

    909 Rice Rd Lees Summit, MO 64086-6359

    • Banks
    • 3,808 SF
    • 1.03 lot acres
    OFF-MARKET
    Value Estimations
    $415,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US48-0542124
    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

    • Equity Bank / Loan Agency / Mobile Money Agent

    Property Details for 909 Rice Rd

    Year built
    1996
    Construction
    WOOD
    Lot size
    1.03 lot acres
    Property size
    3,808 SF
    Property type
    Banks
    APN
    52-840-01-07
    APU
    528400107

    Description

    This exceptional 3,675 square foot retail property, located at 909 NE Rice Rd in Lee's Summit, Missouri, is offered at $1,450,000. Currently configured as a bank, this owner-user investment opportunity presents significant potential for a variety of adaptive uses. Situated on a 1.1-acre lot, the building boasts 291 feet of highway frontage, ensuring high visibility and accessibility. The property benefits from a highly sought-after location in Lee's Summit, placing it in close proximity to major retailers such as Hobby Lobby, Walmart, and Sprouts, guaranteeing substantial foot traffic and brand recognition. There are no seller restrictions, providing flexibility for prospective buyers to tailor the space to their specific business needs. The property's zip code is 64086, and its location within Jackson County, Missouri offers convenient access to major transportation routes and a thriving local community. This is a rare opportunity to acquire a well-positioned retail space with significant upside potential in a dynamic market. The property's size and location make it ideal for a variety of businesses seeking a high-profile presence in a densely populated area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $405,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $422,000
      Market price range: $263k - $426k

    • Alternative Use

      Use
      Estimation
      FINANCIAL BUILDING
      $350,000
      Current use
      OFFICE BUILDING
      $440,000
      Change: +26% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $395,000
      Change: +12% Conversion: Difficult
      RETAIL STORES
      $350,000
      Change: +1% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Lees Summit
    County
    Jackson
    State
    Missouri
    Longitude
    -94.359
    Latitude
    38.9287
    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
    $37,174
    $194,496
    $237,504
    $432,000
    -
    $0.00
    $0.00
    $1,350,000

    Comparable in this City

    • Value Estimation
      $480,000
      4,950 SF

      700 State Rte 291

      FINANCIAL BUILDING • 4,950 SF
      700 State Rte 291, Lees Summit, MO 64086-5563
      View Details
    • Value Estimation
      $395,000
      3,679 SF

      1150 Douglas St

      FINANCIAL BUILDING • 3,679 SF
      1150 Douglas St, Lees Summit, MO 64086-4602
      View Details
    • Value Estimation
      $360,000
      6,464 SF

      760 Blue Pkwy

      FINANCIAL BUILDING • 6,464 SF
      760 Blue Pkwy, Lees Summit, MO 64086-5713
      View Details
    • Value Estimation
      $345,000
      2,400 SF

      26500 Colbern Rd

      FINANCIAL BUILDING • 2,400 SF
      26500 Colbern Rd, Lees Summit, MO 64086-8474
      View Details
    • Value Estimation
      $380,000
      2,015 SF

      825 Deerbrook St

      FINANCIAL BUILDING • 2,015 SF
      825 Deerbrook St, Lees Summit, MO 64086-6750
      View Details
    • Value Estimation
      $525,000
      14,144 SF

      609 State Rte 291

      FINANCIAL BUILDING • 14,144 SF
      609 State Rte 291, Lees Summit, MO 64086-2507
      View Details

    Similar Nearby for Sale

    • $1,800,000
      5,106 SF

      Lees Summit Retail Investment

      Retail property in Lees Summit, MO with corporate guarantee.
      850 NE Swann Rd, Lees Summit, MO 64086
      View Details
    • $1,450,000
      3,675 SF

      Lee's Summit Retail Opportunity

      Retail space in a highly sought-after Lee's Summit location.
      909 NE Rice Rd, Lees Summit, MO 64086
      View Details
    • $925,000
      3.80 Acres

      Lake Lotawana Commercial Land

      3.8 Acres, Prime Development Opportunity
      0 Swq Of Colbern Rd & Lk Lotawana Rd, Lake Lotawana, MO 64086
      View Details
    • $1,600,000
      13.76 Acres

      Blue Springs Commercial Land Investment

      13.76 Acres, $1.6M Asking Price
      7 Hwy & Colbern Rd, Blue Springs, MO 64086
      View Details
    • Contact for pricing
      1.45 Acres

      Lee's Summit Commercial Land

      High-traffic pad sites, prime location.
      0 Us Highway 50, Lee's Summit, MO 64086
      View Details
    • $255,000
      8.00 Acres

      Lone Jack, MO Wooded Lot

      8 Acres, Private Oasis, Custom Plans Available
      31001 Pollard Pl, Lone Jack, MO 64086
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      3,930 SF

      Retail Space on 291 Highway

      3,930 SF in-line retail space for lease.
      600-638 NE State Route 291, Lees Summit, MO 64086
      View Details
    • Contact for pricing
      3,054 SF

      Retail Space in Lees Summit

      Retail space available for lease in Lees Summit, Missouri.
      1100 NE Douglas St, Lees Summit, MO 64086
      View Details
    • Contact for pricing
      3,040 SF

      Retail Space in Summit Fair

      Open-air lifestyle center with retail and restaurant spaces for lease.
      820-840 NW Blue Pkwy, Lees Summit, MO 64086
      View Details
    • $35 SF/Yr
      1,395 SF

      Retail Space Near Summit Fair

      1,395 SF retail space with highway access and visibility.
      655 NW Blue Pkwy, Lees Summit, MO 64086
      View Details
    • Contact for pricing
      4,023 SF

      Retail Space in Summit Fair

      Retail space available in open-air lifestyle center.
      950-990 NW Blue Pkwy, Lees Summit, MO 64086
      View Details
    • $35 SF/Yr
      1,020 SF

      Retail Space in Summit Woods

      1,020 SF in-line space within a 7,500 SF building.
      1808 NW Chipman Rd, Lees Summit, MO 64086
      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.
    909 Rice Rd
    Lees Summit, MO 64086-6359
    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.