Lenexa Office Space
For Sale
Contact for pricing
9870 Quivira Rd, Lenexa, KS
4,600 sqft office space with multiple offices and parking.
Property Size4,600 SF
Lot Size0.61 Acres
Price / SF$184.78
Days on Market548
Property Features for 9870 Quivira Rd
General Information
Standard status
Active
Size
4,600 SF
Lot size
0.61 Acres
Property subtype
OFFICE
Listing Agency:
Reece Commercial Real Estate | Leawood
Listed By:
John Sweeney · License #SP00233396
(913) 652-4300
Source:
Moodyscre
Added: Mar 13, 2025
Changed: Jul 6
Last Checked: Sep 10 at 6:20AM
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 Reece Commercial Real Estate | Leawood
Investment Insights
Based on property information with market context.
This 4,600 square foot office space features multiple offices, conference rooms, and open areas. The property is a single-tenant, one-story building. It has an efficient office finish and signage on the building. Abundant parking is available.
Key Highlights
- 4,600 sqft office space
- Single tenant, one‑story building
- Multiple offices, conference rooms, and open areas
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
$63,431
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
7.46%
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%
$1,268,620
$1.3M
Cap Rate 7%
$906,157
$906.2K
Cap Rate 9%
$704,789
$704.8K
Market Conditions
NOI Build-Up for 4,600 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
$106.0K $23.04/SF
− Vacancy
−$21.4K −$4.65/SF
EGI
$84.6K $18.39/SF
− OpEx
−$21.1K −$4.60/SF
NOI
$63.4K $13.79/SF
Area
Johnson County, KS
Vacancy
20.20%
Lease Rate
$23.04 /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%
$1,268,620
Cap Rate 7%
$906,157
Cap Rate 9%
$704,789
Alternative Uses
Best Use
Office B
$906.2K
$792.9K – $1.06M
NOI $63,431 @ 7.0% cap · market cap 7.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$974.1K – $1.30M
NOI $77,930 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
961
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office units - 4,600 sqft office space with multiple offices and parking.
Where is this office units located?
The property is located at 9870 Quivira Rd Lenexa, KS.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 4,600 sqft office space; Single tenant, one‑story building; Multiple offices, conference rooms, and open areas
