Flex Building with Lab
For Sale
Contact for pricing
10330 Hickman Mills Drive, Kansas City, MO 64137
Air-conditioned flex/office building with lab infrastructure, multiple dock doors, and 20-foot clear height to the deck.
Property Size39,204 SF
Price / SF$86.73
Days on Market146
Property Features for 10330 Hickman Mills Drive
General Information
Standard status
Active
Size
39,204 SF
Total Parking Spaces
126
Property subtype
Office, Mixed Use
Investment Type
Owner/User
Building Details
Tenancy
Multi
Listing Agency:
Newmark
Listed By:
Tommy Gentry · License #MO 00240607
(816) 268-4249
Source:
Crexi
Added: Apr 16
Changed: Aug 13
Last Checked: Sep 7 at 7:03AM
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 Newmark
Investment Insights
Based on property information with market context.
This flex-style building totals 39,204 square feet, with 33,578 square feet available for an owner/user. The layout is described as suitable for office, flex, medical, or service-oriented uses, and the property includes lab infrastructure and a building generator for lab components. The building is fully air-conditioned and has a newer roof, with 2 existing dock doors and the ability to add 2 more for a total of 4. Clear height is listed as 20 feet to the deck and 18 feet to the truss.
The property is visible from I-470 and provides exposure to 75,000+ vehicles per day. It is described as minutes from the Oracle Cerner Innovations Campus, and sits on a 3.11-acre site. UR zoning is noted as allowing flexibility on building use.
The site includes dock loading and lab-supporting infrastructure within a flexible, climate-controlled building configuration.
The property is visible from I-470 and provides exposure to 75,000+ vehicles per day. It is described as minutes from the Oracle Cerner Innovations Campus, and sits on a 3.11-acre site. UR zoning is noted as allowing flexibility on building use.
The site includes dock loading and lab-supporting infrastructure within a flexible, climate-controlled building configuration.
Key Highlights
- 39,204 SF building with 33,578 SF available for owner/user
- Visible from I‑470 with exposure to 75,000+ vehicles per day
- 3.11‑acre site with UR zoning allowing flexibility on building use
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
$307,137
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
9.03%
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%
$6,142,740
$6.1M
Cap Rate 7%
$4,387,671
$4.4M
Cap Rate 9%
$3,412,633
$3.4M
Market Conditions
NOI Build-Up for 39,204 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
$508.1K $12.96/SF
− Vacancy
−$35.6K −$0.91/SF
EGI
$472.5K $12.05/SF
− OpEx
−$165.4K −$4.22/SF
NOI
$307.1K $7.83/SF
Area
Kansas City, MO
Vacancy
7.00%
Lease Rate
$12.96 /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%
$6,142,740
Cap Rate 7%
$4,387,671
Cap Rate 9%
$3,412,633
Alternative Uses
Best Use
Office B
$7.91M
$6.92M – $9.23M
NOI $553,882 @ 7.0% cap · market cap 16.29%
Second Best
Healthcare Medical
$7.42M
$6.49M – $8.66M
NOI $519,375 @ 7.0% cap · market cap 15.28%
Theoretical Best
Office A
$9.34M
$8.17M – $10.89M
NOI $653,659 @ 7.0% cap · market cap 19.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
109
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 64137, MO
10,041
Population
4,879
Households
2.1
Avg Household Size
34
Median Age
38%
College-Educated
94%
High-School Grad
5.8 sq mi
ZIP Area
1,731
Density / Sq Mi
$64,097
Median Household Income
$39,205
Median Earnings
$1,127
Median Rent
$179,000
Median Home Value
Market
Vacancy Rate% for Office in Kansas City, MO
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 - Air-conditioned flex/office building with lab infrastructure, multiple dock doors, and 20-foot clear height to the deck.
Where is this flex space located?
The property is located at 10330 Hickman Mills Drive Kansas City, MO.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: 39,204 SF building with 33,578 SF available for owner/user; Visible from I‑470 with exposure to 75,000+ vehicles per day; 3.11‑acre site with UR zoning allowing flexibility on building use
