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Listed by Andrea Wardell • Wardell & Holmes Real Estate
$500,000
Est. payment /mo
0.29 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Industrial
Listing Status Active
Purchase Type For Sale
Subdivision Springfield Place
MLS Listing ID 2597235
Annual Tax Amount $2,394
Lot Size 0.294 Acres
Acres 0.2938935
Property Sub-Type Industrial
Source hmls
Property Description
Prime urban infill development opportunity positioned for tax-advantaged upside in the heart of Kansas City's fast-evolving core. 3006 Cherry Street is approximately ±12,082 SF parcel zoned M1-5, offering exceptional flexibility for commercial, mixed-use, and creative industrial concepts—with strong potential for tax abatement and Opportunity Zone strategies (buyer to verify eligibility and program requirements).
Located just east of Downtown and minutes from the Crossroads and Crown Center, the site sits within a corridor seeing sustained reinvestment, rising residential density, and expanding employment bases. This positioning creates an ideal framework for long-term capital gains deferral, abatement-driven NOI enhancement, and exit value compression through modern infill product.
Why This Works as a Tax Play
Opportunity Zone–eligible area (buyer to confirm): Potential for deferral and reduction of capital gains with long-term hold strategies.
Local tax abatement potential: Kansas City incentive programs may materially reduce real estate taxes during early years, improving project feasibility and cash flow.
M1-5 zoning flexibility: Supports adaptive reuse, light industrial, office, showroom, studio, and select residential or mixed-use applications—allowing creative structuring to maximize incentives.
Site & Market Advantages
Flat, utility-served lot with strong access and visibility
Central urban location with proven redevelopment momentum
Immediate proximity to Downtown, Crossroads, Crown Center, and major highway corridors
Assemblage optional: Can be acquired individually or as part of a larger land play to scale OZ benefits
Use Profile: Ideal for developers, owner-users, or investors seeking a tax-efficient infill strategy
Contact listing broker for detailed zoning allowances, incentive pathways (abatement/OZ), assemblage options, and underwriting support. Can be sold with MLS#2596180 as well as #2597817
Located just east of Downtown and minutes from the Crossroads and Crown Center, the site sits within a corridor seeing sustained reinvestment, rising residential density, and expanding employment bases. This positioning creates an ideal framework for long-term capital gains deferral, abatement-driven NOI enhancement, and exit value compression through modern infill product.
Why This Works as a Tax Play
Opportunity Zone–eligible area (buyer to confirm): Potential for deferral and reduction of capital gains with long-term hold strategies.
Local tax abatement potential: Kansas City incentive programs may materially reduce real estate taxes during early years, improving project feasibility and cash flow.
M1-5 zoning flexibility: Supports adaptive reuse, light industrial, office, showroom, studio, and select residential or mixed-use applications—allowing creative structuring to maximize incentives.
Site & Market Advantages
Flat, utility-served lot with strong access and visibility
Central urban location with proven redevelopment momentum
Immediate proximity to Downtown, Crossroads, Crown Center, and major highway corridors
Assemblage optional: Can be acquired individually or as part of a larger land play to scale OZ benefits
Use Profile: Ideal for developers, owner-users, or investors seeking a tax-efficient infill strategy
Contact listing broker for detailed zoning allowances, incentive pathways (abatement/OZ), assemblage options, and underwriting support. Can be sold with MLS#2596180 as well as #2597817
Location
State MO
County Jackson
Zoning M1-5
Interior
Fireplace N
Exterior
Utilities Available Other
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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