3028 Cherry St
Kansas City, MO 64108
Retail Property For Sale

3028 Cherry is a 12,340 +/- square foot building consisting of a two level 10,280 +/- square foot warehouse and 2,060 +/- square foot street level office all on a 6,221 square foot print. It’s zoned M1-5 (light industrial) ground. 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.