Building Details

Year Built 2009

Listing Agency: NAI Heartland j**@nai-heartland.com Show Phone

Listed By: Joe O'Neill, CCIM · License #KS 00243549

Source: Crexi

Added: Mar 10 Changed: Aug 8 Last Checked: Aug 12 at 4:39AM

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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 NAI Heartland

Investment Insights

Based on property information with market context.

This industrial building offers approximately 11,250 square feet of space on a land area of about 0.75 acres. Constructed around 2009, the building features a steel frame with insulated metal and Exterior Insulation and Finish System (EIFS) siding. It includes five front-load drive-in doors, each measuring 12 feet wide by 14 feet high, and one rear-load dock-high door. The building's clear height ranges from 14 to 16 feet. It is equipped with an estimated 400 amp electrical service at 120V, with 3-phase power.

Key Highlights

• ± 11,250 SF Industrial Building on ± 0.75 AC
• Features five (5) 12’W x 14’H Front‑Load Drive‑In Doors
• One (1) Rear‑Load Dock‑High Door

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

$52,154

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

3.66%

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%

$1,043,080 $1.0M

Cap Rate 7%

$745,057 $745.1K

Cap Rate 9%

$579,489 $579.5K

Market Conditions

NOI Build-Up for 11,250 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

$67.5K $6.00/SF

− Vacancy

−$6.1K −$0.55/SF

EGI

$61.4K $5.45/SF

− OpEx

−$9.2K −$0.82/SF

NOI

$52.2K $4.64/SF

Area

Wyandotte County, KS

Vacancy

9.10%

Lease Rate

$6.00 /SF/Yr

Expense Ratio

15.00%

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%

$1,043,080

Cap Rate 7%

$745,057

Cap Rate 9%

$579,489

Alternative Uses

Best Use

Warehouse

$745.1K

$651.9K – $869.2K (±1% cap)

NOI $52,154 @ 7.0% cap · market cap 3.66%

Second Best

Industrial

$661.5K

$578.8K – $771.8K (±1% cap)

NOI $46,305 @ 7.0% cap · market cap 3.25%

Theoretical Best

Office A

$2.52M

$2.21M – $2.94M (±1% cap)

NOI $176,483 @ 7.0% cap · market cap 12.38%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Warehouses

Suggested Use

Top Pick Real Estate Agency Big Box & Wholesale Store Auto Parts Store Electrical Service Storage Facility Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

48

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 66111, KS

10,506

Population

4,200

Households

2.5

Avg Household Size

38

Median Age

19%

College-Educated

87%

High-School Grad

23.2 sq mi

ZIP Area

453

Density / Sq Mi

$67,117

Median Household Income

$36,974

Median Earnings

$989

Median Rent

$131,800

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Frequently Asked Questions

What type of property is this?

Warehouse - 11,250 SF industrial building on 0.75 AC for sale.

Where is this warehouse located?

The property is located at 10947 Kaw Dr Edwardsville, KS.

What is the asking price?

The asking price for this property is $1,425,000.

What are key features of this property?

This property features: ± 11,250 SF Industrial Building on ± 0.75 AC; Features five (5) 12’W x 14’H Front‑Load Drive‑In Doors; One (1) Rear‑Load Dock‑High Door