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3024 Cherry St
Kansas City, MO 64108
Industrial Property For Sale
INVESTMENT HIGHLIGHTS
- Convenient Access to 71 Hwy via 31st St
- Masonry and Timber Construction
- Possible Redevelopment Opportunity
- Central Mid-Town Location
- Drive-in Loading First Floor and Lower
EXECUTIVE SUMMARY
3024 Cherry is a 24,842 square foot two story warehouse on M1-5 (light industrial) zoned ground. It has drive-in loading above and below. This property sits in the North Hyde Park neighborhood just southeast of Crown Center. Martini Corner is to the west, Costco and Home Depot to the southwest, The Filling Station and Gillham apartments to the northwest.
These properties are within the Gillham Row PIEA so they are eligible for PIEA property tax abatement. However, this is not a continuously distressed census tract, so the PIEA tax abatement would be limited to 10 years abatement of 70% of the increased property taxes, followed by up to 5 years of a 30% abatement. The PIEA might also be willing to provide a Sales Tax Exemption on Construction Materials (STECM), which would add time and legal expense to the project.
These properties are also within Kansas City's Enhanced Enterprise Zone (EEZ) #2. Eligible businesses undertaking eligible projects may receive Missouri WORKS income tax benefits. Upon enrolling in the WORKS Program, the property they will occupy is entitled to a 10 year abatement of 50% of the increased property taxes.
These properties are within the Gillham Row PIEA so they are eligible for PIEA property tax abatement. However, this is not a continuously distressed census tract, so the PIEA tax abatement would be limited to 10 years abatement of 70% of the increased property taxes, followed by up to 5 years of a 30% abatement. The PIEA might also be willing to provide a Sales Tax Exemption on Construction Materials (STECM), which would add time and legal expense to the project.
These properties are also within Kansas City's Enhanced Enterprise Zone (EEZ) #2. Eligible businesses undertaking eligible projects may receive Missouri WORKS income tax benefits. Upon enrolling in the WORKS Program, the property they will occupy is entitled to a 10 year abatement of 50% of the increased property taxes.
PROPERTY FACTS
| Sale Type | Investment or Owner User | No. Stories | 2 |
| Property Type | Industrial | Year Built | 1930 |
| Property Subtype | Warehouse | Tenancy | Single |
| Building Class | C | Clear Ceiling Height | 16’ |
| Lot Size | 0.85 AC | No. Drive In / Grade-Level Doors | 5 |
| Rentable Building Area | 24,842 SF | Opportunity Zone |
Yes
|
| Sale Type | Investment or Owner User |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 0.85 AC |
| Rentable Building Area | 24,842 SF |
| No. Stories | 2 |
| Year Built | 1930 |
| Tenancy | Single |
| Clear Ceiling Height | 16’ |
| No. Drive In / Grade-Level Doors | 5 |
| Opportunity Zone |
Yes |
PROPERTY TAXES
| Parcel Number | 29-810-39-12-00-0-00-000 | Improvements Assessment | $208,465 CAD |
| Land Assessment | $102,753 CAD | Total Assessment | $311,217 CAD |
PROPERTY TAXES
Parcel Number
29-810-39-12-00-0-00-000
Land Assessment
$102,753 CAD
Improvements Assessment
$208,465 CAD
Total Assessment
$311,217 CAD
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