Shawnee Retail Strip Center For
For Sale
$750,000
Pending
12200 Johnson Drive, Shawnee, KS 66216
Retail strip center located in Shawnee, Kansas available for purchase.
Property Size4,464 SF
Days on Market152
Property Features for 12200 Johnson Drive
General Information
Standard status
Pending
Size
4,464 SF
Zoning
commer
Taxes and HOA fees
Annual Taxes
$8,722
Amenities
Parking Lot
Building Details
Building Size
4,464 SF
Year Built
1974
Stories
1
Listing Agency:
Keller Williams Realty Diamond Partners Inc.
Listed By:
Greta Wakefield
(913) 558-3092
Source:
Evrealestate
Added: Apr 7
Changed: Sep 2
Last Checked: Sep 5 at 4:15AM
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 Keller Williams Realty Diamond Partners Inc.
Investment Insights
Based on property information with market context.
Located off I-35 and Johnson Drive in Shawnee, Kansas, this retail strip center is available for purchase. The property is located in Johnson County.
Key Highlights
- Located in Johnson County
- Parking Lot included
- Built in 1974
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
$43,152
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
5.75%
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%
$863,040
$863.0K
Cap Rate 7%
$616,457
$616.5K
Cap Rate 9%
$479,467
$479.5K
Market Conditions
NOI Build-Up for 4,464 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
$64.3K $14.40/SF
− Vacancy
−$2.6K −$0.59/SF
EGI
$61.6K $13.81/SF
− OpEx
−$18.5K −$4.14/SF
NOI
$43.2K $9.67/SF
Area
Johnson 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%
$863,040
Cap Rate 7%
$616,457
Cap Rate 9%
$479,467
Alternative Uses
Best Use
Retail
$616.5K
$539.4K – $719.2K
NOI $43,152 @ 7.0% cap · market cap 5.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.08M
$945.3K – $1.26M
NOI $75,626 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
483
Businesses Nearby
130k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 38%
Dining 27%
Shops & Services 18%
Apparel 16%
Hy-Vee
Groceries
44,055 visits/mo
0.1 miles
Savers Thrift Store
Apparel
20,230 visits/mo
0.2 miles
SONIC Drive In
Dining
16,884 visits/mo
0.2 miles
Burger King
Dining
9,404 visits/mo
0.1 miles
Commerce Bank
Shops & Services
6,070 visits/mo
0.2 miles
Demographics for 66216, KS
25,169
Population
9,925
Households
2.5
Avg Household Size
41
Median Age
54%
College-Educated
96%
High-School Grad
7.9 sq mi
ZIP Area
3,186
Density / Sq Mi
$109,714
Median Household Income
$54,483
Median Earnings
$1,298
Median Rent
$324,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Retail strip center located in Shawnee, Kansas available for purchase.
Where is this strip mall located?
The property is located at 12200 Johnson Drive Shawnee, KS.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Located in Johnson County; Parking Lot included; Built in 1974
