Corner Goodwill
New
For Sale
$1,561,000
104 S Broadway St, Leavenworth, KS 66048
Established retail occupancy at a signalized intersection with a lease extending beyond six years.
Property Size11,500 SF
Days on Market4
Property Features for 104 S Broadway St
General Information
Standard status
Active
Size
11,500 SF
Property subtype
Retail
Additional Details
Corner Location
Yes
Building Details
Building Size
11,500 SF
Year Built
1950
Tenancy
Single
Listing Agency:
ParaSell Inc
(415) 274-2715
Listed By:
John Andreini · License #CalDRE #01440360
Source:
Cppcre
Added: Aug 28
Changed: Aug 29
Last Checked: Aug 30 at 3:15PM
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 ParaSell Inc
Investment Insights
Based on property information with market context.
This storefront property, built in 1950, is occupied by Goodwill, whose operations at the location date to 2003. The existing lease has more than 6 years remaining in its base term and includes a 4.3% rental increase effective 4/1/2029. No renewal options remain under the lease, leaving the property positioned for a future re-leasing decision after the current term.
The building occupies the signalized hard corner of S Broadway Street and Shawnee Street in Leavenworth. It is the only Goodwill location within a 15-mile radius, providing a defined trade-area position for the existing retail operation. The property is offered for sale with an established tenant and documented operating history.
The building occupies the signalized hard corner of S Broadway Street and Shawnee Street in Leavenworth. It is the only Goodwill location within a 15-mile radius, providing a defined trade-area position for the existing retail operation. The property is offered for sale with an established tenant and documented operating history.
Key Highlights
- Goodwill has operated at the property since 2003
- More than 6 years remain in the base lease term
- Lease includes a 4.3% rental increase effective 4/1/2029
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
$111,167
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
7.12%
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%
$2,223,340
$2.2M
Cap Rate 7%
$1,588,100
$1.6M
Cap Rate 9%
$1,235,189
$1.2M
Market Conditions
NOI Build-Up for 11,500 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
$165.6K $14.40/SF
− Vacancy
−$6.8K −$0.59/SF
EGI
$158.8K $13.81/SF
− OpEx
−$47.6K −$4.14/SF
NOI
$111.2K $9.67/SF
Area
Leavenworth County, KS
Vacancy
4.10%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$2,223,340
Cap Rate 7%
$1,588,100
Cap Rate 9%
$1,235,189
Alternative Uses
Best Use
Retail
$1.59M
$1.39M – $1.85M
NOI $111,167 @ 7.0% cap · market cap 7.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office B
$2.26M
$1.98M – $2.64M
NOI $158,355 @ 7.0% cap · market cap 10.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
958
Businesses Nearby
18k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 65%
Apparel 30%
Hotels & Casinos 5%
Shell
Shops & Services
5,879 visits/mo
0.4 miles
Goodwill
Apparel
5,475 visits/mo
0.1 miles
Family Dollar
Shops & Services
4,595 visits/mo
0.2 miles
Firestone Complete Auto Care
Shops & Services
1,400 visits/mo
0.2 miles
Hampton Inn By Hilton Leavenworth
Hotels & Casinos
946 visits/mo
0.5 miles
Demographics for 66048, KS
36,628
Population
15,237
Households
2.4
Avg Household Size
39
Median Age
31%
College-Educated
92%
High-School Grad
135.5 sq mi
ZIP Area
270
Density / Sq Mi
$71,520
Median Household Income
$40,702
Median Earnings
$954
Median Rent
$203,700
Median Home Value
Market
Vacancy Rate% for Retail 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?
Storefront property - Established retail occupancy at a signalized intersection with a lease extending beyond six years.
Where is this storefront property located?
The property is located at 104 S Broadway St Leavenworth, KS.
What is the asking price?
The asking price for this property is $1,561,000.
What are key features of this property?
This property features: Goodwill has operated at the property since 2003; More than 6 years remain in the base lease term; Lease includes a 4.3% rental increase effective 4/1/2029
