Freestanding Flex Space
For Sale
Contact for pricing
108 N Chester Street, Olathe, KS 66061
Freestanding retail/industrial flex building with convenient corridor access for businesses needing versatile space.
Property Size6,000 SF
Lot Size0.44 Acres
Price / SF$165.83
Days on Market95
Property Features for 108 N Chester Street
General Information
Standard status
Active
Size
6,000 SF
Lot size
0.44 Acres
Property subtype
Retail, Industrial
Zoning
C-3
Additional Details
Highway Access
Yes
Building Details
Year Built
1970
Buildings
1
Listing Agency:
Colliers - Kansas City, Missouri
Listed By:
Jack Higgins · License #MO 00241790
(816) 556-1170
Source:
Crexi
Added: Jun 3
Changed: Aug 23
Last Checked: Sep 2 at 7:29PM
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 Colliers - Kansas City, Missouri
Investment Insights
Based on property information with market context.
This offering is a freestanding 6,000 SF flex space building on 0.44 acres, suitable for both retail and industrial-style uses. The property provides a stand-alone configuration designed for straightforward operations and tenant control.
The location offers easy access to the I-35, K-7, and Santa Fe Street corridors, supporting practical regional connectivity. It is positioned within the Olathe area near Downtown Olathe and local businesses.
For tenants, owners, and operators, this type of property can work well when you need a single facility that can accommodate retail-facing activity while maintaining an industrial flex component. The stand-alone nature and direct corridor access make it a compelling fit for businesses looking for a versatile building rather than a shared space setup.
The location offers easy access to the I-35, K-7, and Santa Fe Street corridors, supporting practical regional connectivity. It is positioned within the Olathe area near Downtown Olathe and local businesses.
For tenants, owners, and operators, this type of property can work well when you need a single facility that can accommodate retail-facing activity while maintaining an industrial flex component. The stand-alone nature and direct corridor access make it a compelling fit for businesses looking for a versatile building rather than a shared space setup.
Key Highlights
- Freestanding 6,000 SF retail/industrial flex building
- Built in 1970
- Sits on 0.44 acres
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
$61,589
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
6.19%
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%
$1,231,780
$1.2M
Cap Rate 7%
$879,843
$879.8K
Cap Rate 9%
$684,322
$684.3K
Market Conditions
NOI Build-Up for 6,000 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
$100.8K $16.80/SF
− Vacancy
−$6.0K −$1.01/SF
EGI
$94.8K $15.79/SF
− OpEx
−$33.2K −$5.53/SF
NOI
$61.6K $10.26/SF
Area
Olathe, KS
Vacancy
6.00%
Lease Rate
$16.80 /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%
$1,231,780
Cap Rate 7%
$879,843
Cap Rate 9%
$684,322
Alternative Uses
Best Use
Flex RnD
$879.8K
$769.9K – $1.03M
NOI $61,589 @ 7.0% cap · market cap 6.19%
Second Best
Retail
$829.4K
$725.8K – $967.7K
NOI $58,061 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$1.77M
$1.55M – $2.07M
NOI $124,128 @ 7.0% cap · market cap 12.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
937
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 66061, KS
66,166
Population
24,744
Households
2.7
Avg Household Size
36
Median Age
45%
College-Educated
93%
High-School Grad
63.3 sq mi
ZIP Area
1,045
Density / Sq Mi
$109,110
Median Household Income
$50,736
Median Earnings
$1,228
Median Rent
$337,400
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.
Similar Off Market Nearby
- Two Guys and a Grill — 109 N Chester St, Olathe, KS 66061
Frequently Asked Questions
What type of property is this?
Flex space - Freestanding retail/industrial flex building with convenient corridor access for businesses needing versatile space.
Where is this flex space located?
The property is located at 108 N Chester Street Olathe, KS.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Freestanding 6,000 SF retail/industrial flex building; Built in 1970; Sits on 0.44 acres
