Building Details

Year Built 2021

Buildings 1

Tenancy Single

Listing Agency: Bang Realty b***@bangrealty.com Show Phone

Listed By: Brian Brockman · License #471020548

Source: Crexi

Added: Mar 16 Changed: Aug 8 Last Checked: Aug 8 at 6:22AM

Report an Issue

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 Bang Realty

Investment Insights

Based on property information with market context.

This retail space offers 10,566 square feet of area. The property is being offered for sale and has a capitalization rate of 6.25%.

Key Highlights

• 6.25% CAP Rate
• 10,566 SqFt Retail Space
• Built in 2021

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

$102,139

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

6.87%

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%

$2,042,780 $2.0M

Cap Rate 7%

$1,459,129 $1.5M

Cap Rate 9%

$1,134,878 $1.1M

Market Conditions

NOI Build-Up for 10,566 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

$152.2K $14.40/SF

− Vacancy

−$6.2K −$0.59/SF

EGI

$145.9K $13.81/SF

− OpEx

−$43.8K −$4.14/SF

NOI

$102.1K $9.67/SF

Area

Leavenworth 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%

$2,042,780

Cap Rate 7%

$1,459,129

Cap Rate 9%

$1,134,878

Alternative Uses

Best Use

Retail

$1.46M

$1.28M – $1.70M (±1% cap)

NOI $102,139 @ 7.0% cap · market cap 6.87%

Second Best

—

—

no second resolved use

Theoretical Best

Office B

$2.08M

$1.82M – $2.42M (±1% cap)

NOI $145,494 @ 7.0% cap · market cap 9.78%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Dollar General Discount Store Western Union Bank

Suggested Use

Top Pick HVAC Service Auto Repair Shop Furniture & Home Goods Grocery & Convenience Store Computer & Electronic Repair Building Supply

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

31

Businesses Nearby

Explore this area Business Placement

Demographics for 66052, KS

2,070

Population

827

Households

2.5

Avg Household Size

44

Median Age

36%

College-Educated

90%

High-School Grad

40.8 sq mi

ZIP Area

51

Density / Sq Mi

$85,885

Median Household Income

$50,236

Median Earnings

$986

Median Rent

$338,500

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this retail space located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Frequently Asked Questions

What type of property is this?

Retail space - Retail space available, 10,566 SqFt, 6.25% CAP Rate.

Where is this retail space located?

The property is located at 12650 198th St Linwood, KS.

What is the asking price?

The asking price for this property is $1,487,808.

What are key features of this property?

This property features: 6.25% CAP Rate; 10,566 SqFt Retail Space; Built in 2021