Hard-Corner Flex
For Sale
$595,000
10042 Southwest Diamond Road, Augusta, KS 67010
General Commercial zoning, highway access, and an existing building define this commercial property.
Property Size2,800 SF
Lot Size3.10 Acres
Price / SF$212.50
Days on Market59
Property Features for 10042 Southwest Diamond Road
General Information
Standard status
Active
Size
2,800 SF
Lot size
3.10 Acres
Property subtype
Industrial
Zoning
General Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
2,800 SF
Year Built
2024
Buildings
1
Listing Agency:
(316) 262-6400
Listed By:
Miscellaneous Agent
Source:
Weigand
Added: Jul 4
Changed: Aug 30
Last Checked: Aug 30 at 10:34PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Miscellaneous Agent
Investment Insights
Based on property information with market context.
This flex space includes a 40' x 70' building completed in 2024, with three 10' x 12' overhead doors. The improvements sit on a 3.1-acre parcel with 5-inch concrete floors, a concrete pad, and a gravel lot.
Positioned at 10042 Southwest Diamond Road in Augusta, the property occupies a hard corner with access to Hwy. 54/400 and approximately 300 feet of frontage along the highway. General Commercial zoning applies to the site, combining an existing flex building with a substantial outdoor area and direct highway exposure.
Positioned at 10042 Southwest Diamond Road in Augusta, the property occupies a hard corner with access to Hwy. 54/400 and approximately 300 feet of frontage along the highway. General Commercial zoning applies to the site, combining an existing flex building with a substantial outdoor area and direct highway exposure.
Key Highlights
- 3.1‑acre hard‑corner parcel with approximately 300 ft. of Hwy. 54/400 frontage
- 40' x 70' flex building completed in 2024
- Three 10' x 12' overhead doors
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,530
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.45%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$410,600
$410.6K
Cap Rate 7%
$293,286
$293.3K
Cap Rate 9%
$228,111
$228.1K
Market Conditions
NOI Build-Up for 2,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$33.6K $12.00/SF
− Vacancy
−$2.0K −$0.72/SF
EGI
$31.6K $11.28/SF
− OpEx
−$11.1K −$3.95/SF
NOI
$20.5K $7.33/SF
Area
Butler County, KS
Vacancy
6.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$410,600
Cap Rate 7%
$293,286
Cap Rate 9%
$228,111
Alternative Uses
Best Use
Flex RnD
$293.3K
$256.6K – $342.2K
NOI $20,530 @ 7.0% cap · market cap 3.45%
Second Best
Warehouse
$271.3K
$237.4K – $316.5K
NOI $18,992 @ 7.0% cap · market cap 3.19%
Theoretical Best
Office A
$594.4K
$520.1K – $693.5K
NOI $41,610 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 67010, KS
13,564
Population
5,691
Households
2.4
Avg Household Size
41
Median Age
25%
College-Educated
95%
High-School Grad
104.0 sq mi
ZIP Area
130
Density / Sq Mi
$69,677
Median Household Income
$41,816
Median Earnings
$976
Median Rent
$178,600
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - General Commercial zoning, highway access, and an existing building define this commercial property.
Where is this flex space located?
The property is located at 10042 Southwest Diamond Road Augusta, KS.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 3.1‑acre hard‑corner parcel with approximately 300 ft. of Hwy. 54/400 frontage; 40' x 70' flex building completed in 2024; Three 10' x 12' overhead doors
