Apartment Building with
For Sale
$1,350,000
2312 N 155th St, Basehor, KS 66007
Well-kept apartment building with individual utilities, basement laundry, and balconies on a large development-minded parcel.
Property Size10,600 SF
Days on Market54
Property Features for 2312 N 155th St
General Information
Standard status
Active
Size
10,600 SF
Property subtype
Multifamily
Additional Details
Multifamily Units
12
Building Details
Building Size
10,600 SF
Year Built
1980
Listing Agency:
SVN | Encompass Commercial LLC
(816) 520-1015
Listed By:
Sterling H. Scott · License #MO #2021033673
(816) 520-1015
Source:
Svn
Added: Jun 29
Changed: Aug 21
Last Checked: Aug 21 at 4:34AM
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 SVN | Encompass Commercial LLC
Investment Insights
Based on property information with market context.
This apartment building consists of 12 units and appears to be constructed in the 1980s. The property includes pitched roofs, and each unit has individual electric and gas service. Laundry is available via washer and dryer located in the basement, and residents have balconies.
The asset is also described as having a large parcel that supports flexibility for an owner. In addition to the 12 units, there is an additional parcel that may provide development optionality for the next owner.
For tenants or operators seeking a multifamily property with in-unit utility separation and on-site basement laundry access, this configuration can support day-to-day convenience. For buyers evaluating long-term ownership, the included additional parcel and large site provide something to work with beyond the existing apartment count.
The asset is also described as having a large parcel that supports flexibility for an owner. In addition to the 12 units, there is an additional parcel that may provide development optionality for the next owner.
For tenants or operators seeking a multifamily property with in-unit utility separation and on-site basement laundry access, this configuration can support day-to-day convenience. For buyers evaluating long-term ownership, the included additional parcel and large site provide something to work with beyond the existing apartment count.
Key Highlights
- 1980‑built 12‑unit apartment building with well‑kept interiors and balconies
- Individual electric and gas utilities for residents
- Basement laundry includes washer and dryer
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
$79,488
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
5.89%
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%
$1,589,760
$1.6M
Cap Rate 7%
$1,135,543
$1.1M
Cap Rate 9%
$883,200
$883.2K
Market Conditions
NOI Build-Up for 10,600 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
$153.9K $14.52/SF
− Vacancy
−$9.4K −$0.89/SF
EGI
$144.5K $13.63/SF
− OpEx
−$65.0K −$6.14/SF
NOI
$79.5K $7.50/SF
Area
Wyandotte County, KS
Vacancy
6.10%
Lease Rate
$14.52 /SF/Yr
Expense Ratio
45.00%
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%
$1,589,760
Cap Rate 7%
$1,135,543
Cap Rate 9%
$883,200
Alternative Uses
Best Use
Apartment 5plus
$1.14M
$993.6K – $1.32M
NOI $79,488 @ 7.0% cap · market cap 5.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.38M
$2.08M – $2.77M
NOI $166,286 @ 7.0% cap · market cap 12.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
89
Businesses Nearby
Explore this area
Business Placement
Demographics for 66007, KS
9,875
Population
3,706
Households
2.7
Avg Household Size
41
Median Age
40%
College-Educated
97%
High-School Grad
31.4 sq mi
ZIP Area
314
Density / Sq Mi
$108,698
Median Household Income
$62,679
Median Earnings
$1,173
Median Rent
$353,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-kept apartment building with individual utilities, basement laundry, and balconies on a large development-minded parcel.
Where is this apartment building located?
The property is located at 2312 N 155th St Basehor, KS.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 1980‑built 12‑unit apartment building with well‑kept interiors and balconies; Individual electric and gas utilities for residents; Basement laundry includes washer and dryer
