Single-Occupant Office Building with
For Sale
Contact for pricing
10310 W 84th Terrace, Lenexa, KS 66214
Single-occupant office building featuring dock-high access and ample parking designed for close-to-entry convenience.
Property Size46,045 SF
Price / SF$154
Days on Market625
Property Features for 10310 W 84th Terrace
General Information
Standard status
Active
Size
46,045 SF
Property subtype
OFFICE
Additional Details
Business Included
No
Building Details
Tenancy
Single
Listing Agency:
Block Real Estate Services
(816) 756-1400
Listed By:
Andrew T. Block · License #00237203
(816) 412-5873
Source:
Moodyscre
Added: Dec 31, 2024
Changed: Sep 11
Last Checked: Sep 16 at 3:31PM
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 Block Real Estate Services
Investment Insights
Based on property information with market context.
This for-sale office building is a single-occupant property offering dock-high access for efficient loading operations. The building totals 46,045 RSF and includes ample parking designed with spaces positioned close to the building entrances.
Located in the Johnson County submarket, the property provides access and location benefits for regional business needs, with downtown Kansas City approximately 15 minutes away and Kansas City International Airport less than 30 minutes away.
Designed for a streamlined single-tenant setup, the dock-high access and entrance-proximate parking support everyday operational flow for on-site teams and deliveries.
Located in the Johnson County submarket, the property provides access and location benefits for regional business needs, with downtown Kansas City approximately 15 minutes away and Kansas City International Airport less than 30 minutes away.
Designed for a streamlined single-tenant setup, the dock-high access and entrance-proximate parking support everyday operational flow for on-site teams and deliveries.
Key Highlights
- 46,045 RSF single‑occupant office building for sale in Johnson County
- Dock‑high access for loading and efficient building access
- Ample parking with spaces designed close to building entrances
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
$634,935
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
8.95%
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%
$12,698,700
$12.7M
Cap Rate 7%
$9,070,500
$9.1M
Cap Rate 9%
$7,054,833
$7.1M
Market Conditions
NOI Build-Up for 46,045 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
$1.06M $23.04/SF
− Vacancy
−$214.3K −$4.65/SF
EGI
$846.6K $18.39/SF
− OpEx
−$211.6K −$4.60/SF
NOI
$634.9K $13.79/SF
Area
Johnson County, KS
Vacancy
20.20%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
25.00%
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%
$12,698,700
Cap Rate 7%
$9,070,500
Cap Rate 9%
$7,054,833
Alternative Uses
Best Use
Office B
$9.07M
$7.94M – $10.58M
NOI $634,935 @ 7.0% cap · market cap 8.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.14M
$9.75M – $13.00M
NOI $780,063 @ 7.0% cap · market cap 11.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,083
Businesses Nearby
Explore this area
Business Placement
Demographics for 66214, KS
12,263
Population
5,652
Households
2.2
Avg Household Size
35
Median Age
52%
College-Educated
95%
High-School Grad
3.9 sq mi
ZIP Area
3,144
Density / Sq Mi
$80,842
Median Household Income
$47,740
Median Earnings
$1,122
Median Rent
$321,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Single-occupant office building featuring dock-high access and ample parking designed for close-to-entry convenience.
Where is this office building located?
The property is located at 10310 W 84th Terrace Lenexa, KS.
What is the asking price?
The asking price for this property is $7,090,930.
What are key features of this property?
This property features: 46,045 RSF single‑occupant office building for sale in Johnson County; Dock‑high access for loading and efficient building access; Ample parking with spaces designed close to building entrances
