206 Main StIndependence, MO 64050

Property Details for 206 Main St

Year built

1890

Construction

WOOD

Lot size

0.11 AC

Property size (Sq ft)

3,387 SF

Property type

Retail space

APN

26-230-03-17

APU

262300317

Description

This exceptional mixed-use property, located at 206 & 208 N Main Street in Independence, Missouri, presents a unique investment opportunity. Built in 1890, this two-story building sits on a substantial 26,910 square foot lot in a bustling downtown square. Currently configured as a thriving commercial space, the ground floor houses an established bar and restaurant. The upper level offers a diverse range of income-generating spaces, including a recently updated two-bedroom residential/Airbnb unit, a photography studio, a small makeup studio, and two massage therapist offices. Additionally, there is a therapist's office. Two vacant rental units provide immediate potential for increased revenue. The property boasts a well-maintained structure, with a new roof installed in 2019 on one section and 2021 on the other. The asking price is $605,000, offering a strong cash-on-cash return from day one, even without the two currently vacant units being leased. This prime location and diverse income streams make this a truly exceptional investment opportunity. The property's history and current configuration provide a unique blend of established businesses and potential for future growth.

• CAP approach

  CAP return

  Valuation

  6%

  $933,283

  6.5%

  $861,492

  7%

  $799,957

• Comparable approach

  Method

  Valuation

  Relative Method

  $610,526

  Geo Method

  $610,526

• Alternative Use

  Use

  Valuation

  Residential

  $726,701

  Hospitality

  $665,654

  Educational

  $553,816

  Medical

  $572,863

  Retail

  $861,492

Location Insight

City

Independence

County

Jackson

State

Missouri

Latitude

39.0932

Longitude

-94.4159

CBSA code

28140

CBSA name

KANSAS CITY, MO-KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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