Overland Park Office For
For Sale
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10841 W 87th St Suite C3, Overland Park, KS 66214
Office unit available for sale in Overland Park, Kansas.
Property Size2,617 SF
Price / SF$190.68
Days on Market184
Property Features for 10841 W 87th St Suite C3
General Information
Standard status
Active
Size
2,617 SF
Class
C
Property subtype
Office
Zoning
CP-O
Lease Type
NNN
Investment Type
Owner/User
Building Details
Year Built
1985
Year Renovated
2026
Buildings
1
Stories
1
Units
1
Listing Agency:
Cypress Realty LLC
Listed By:
Mark Neighbors · License #00039836
Source:
Crexi
Added: Mar 9
Changed: Sep 6
Last Checked: Sep 8 at 7:01AM
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 Cypress Realty LLC
Investment Insights
Based on property information with market context.
An office unit is available for sale in Overland Park, Kansas. The property offers a total size of 2617 square feet, presenting an investment opportunity.
Key Highlights
- Investment opportunity
- Built in 1985
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
$33,180
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
6.65%
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%
$663,600
$663.6K
Cap Rate 7%
$474,000
$474.0K
Cap Rate 9%
$368,667
$368.7K
Market Conditions
NOI Build-Up for 2,617 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
$55.0K $21.00/SF
− Vacancy
−$10.7K −$4.10/SF
EGI
$44.2K $16.90/SF
− OpEx
−$11.1K −$4.23/SF
NOI
$33.2K $12.68/SF
Area
Overland Park, KS
Vacancy
19.50%
Lease Rate
$21.00 /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%
$663,600
Cap Rate 7%
$474,000
Cap Rate 9%
$368,667
Alternative Uses
Best Use
Office B
$474.0K
$414.8K – $553.0K
NOI $33,180 @ 7.0% cap · market cap 6.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$674.3K
$590.0K – $786.7K
NOI $47,200 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,260
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office unit available for sale in Overland Park, Kansas.
Where is this office units located?
The property is located at 10841 W 87th St Suite C3 Overland Park, KS.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Investment opportunity; Built in 1985
