
Wardell & Holmes Real Estate
Listed by Wardell & Holmes Real Estate
$605,000
2939 Cherry Street
Details
APN 29-810-28-10-00-0-00-000
Property Type Special Purpose
Sub Type Other
Cap Rate 6.72%
Occupancy 100%
Tenancy Single
Lease Type Gross
Year Built 1986
Lot Size (SqFt) 11,708
Zoning M1-5
Special Purpose | 6.72% CAP
Marketing description
Investment Offering | Stabilized Asset with Strategic Upside
Positioned in the established and evolving Longfellow neighborhood, this 1986-built asset presents a rare opportunity to acquire a stabilized, income-producing property with both operational efficiency and future optionality.
The property is currently leased to an established tenant through May 2027, providing immediate, predictable cash flow. Based on current financials, the asset is operating at an approximate 6.77% capitalization rate, supported by a strong income stream and controlled expenses. Full lease documentation and T-12 financials are available for qualified buyers.
A notable enhancement to the asset is the presence of owned solar panels, reducing utility exposure and contributing to long-term expense stability—an increasingly valuable feature for both investors and future occupants.
This offering presents a dual-path opportunity:
Passive Investor Play: Secure in-place income with a performing tenant and solid yield in a central Kansas City location
Strategic Owner-User Play: Plan for future occupancy upon lease expiration, while benefiting from income in the interim
The current tenant also holds a First Right of Refusal, creating a defined and transparent framework for any future sale considerations.
Investment Summary
Cap Rate: ~6.77%
Lease Term: Through May 2027
Asset Type: Stabilized, income-producing
Year Built: 1986
Additional Features: Owned solar infrastructure
Buyer and Buyer's Agent to verify any and all information as it pertains to the property.
Seller is Licensed in Kansas and Missouri
Listing Contacts

Wardell & Holmes Real Estate
Listed by Wardell & Holmes Real Estate
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