11411 23Rd StIndependence, MO 64052

Property Details for 11411 23Rd St

Year built

1965

Construction

WOOD

Lot size

0.26 AC

Property size (Sq ft)

2,160 SF

Property type

Office buildings

APN

26-430-05-12

APU

264300512

Description

This exceptional investment opportunity presents a portfolio sale encompassing two buildings situated at 11411 and 11413-11417 E 23rd Street in Independence, Missouri, 64052. The asking price for this package is $545,000. The main building (11413-11417) and a substantial secondary building (11411) are both included in this sale. Building 11411, a single-story storefront structure built in 1980, sits on an 11,326 square foot lot and features a large, currently unused basement walkout space. The portfolio boasts a diverse mix of six tenants, ensuring 100% occupancy. Amenities include nearly 20 parking spaces and a wheelchair-accessible ramp. This property is ideal for investors seeking to expand their commercial holdings in a thriving location. The diverse tenant mix ranges from a barbershop to a thrift store, indicating a strong and stable rental income stream. The significant unused basement space in the secondary building presents a unique opportunity for expansion or value-add improvements. This is a rare chance to acquire a well-located, fully occupied commercial property portfolio in a desirable area of Independence, Missouri.

• CAP approach

  CAP return

  Valuation

  6%

  $404,888

  6.5%

  $373,742

  7%

  $347,046

• Comparable approach

  Method

  Valuation

  Relative Method

  $154,505

  Geo Method

  $154,505

• Alternative Use

  Use

  Valuation

  Residential

  $463,441

  Hospitality

  $424,509

  Educational

  $353,187

  Medical

  $365,333

  Retail

  $549,401

Location Insight

City

Independence

County

Jackson

State

Missouri

Latitude

39.0798

Longitude

-94.4414

CBSA code

28140

CBSA name

KANSAS CITY, MO-KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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