Drive-In Door Retail
For Sale
Contact for pricing
7301 State Ave, Kansas City, KS 66112
Retail/commercial building with air-conditioned office and heated warehouse, supported by multiple drive-in doors.
Property Size16,100 SF
Lot Size10.07 Acres
Price / SF$204.97
Days on Market545
Property Features for 7301 State Ave
General Information
Standard status
Active
Size
16,100 SF
Lot size
10.07 Acres
Property subtype
INDUSTRIAL
Additional Details
Outdoor Storage
Yes
Drive-In Doors
7
Amenities
air-conditioned office & showroom
heated warehouse
Listing Agency:
NAI Heartland | Kansas City
(913) 362-1000
Listed By:
Seth Sinovic
(913) 219-2518
Source:
Moodyscre
Added: Mar 17, 2025
Changed: Sep 8
Last Checked: Sep 12 at 10:24AM
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 | Kansas City
Investment Insights
Based on property information with market context.
This retail and commercial building offers a combined office and warehouse configuration, with approximately 15,000 SF of office/showroom space and about 11,100 SF of warehouse area. The property includes air-conditioned office and showroom improvements, along with a heated warehouse.
Operational access includes five 10' x 10' drive-in doors and two 12' x 12' drive-in doors. Outside, the site provides 10.07 acres of outdoor storage. The property is located at 7301 State Ave, Kansas City, KS 66112.
Overall, the building is designed to support both customer-facing office/showroom use and warehouse operations, with dedicated drive-in loading and substantial outdoor storage space.
Operational access includes five 10' x 10' drive-in doors and two 12' x 12' drive-in doors. Outside, the site provides 10.07 acres of outdoor storage. The property is located at 7301 State Ave, Kansas City, KS 66112.
Overall, the building is designed to support both customer-facing office/showroom use and warehouse operations, with dedicated drive-in loading and substantial outdoor storage space.
Key Highlights
- 16,100 SF retail/commercial building with 5,000 SF office and 11,100 SF warehouse
- Heated warehouse plus air‑conditioned office and showroom space
- Five 10 29 and two 12 29 drive‑in doors
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
$116,789
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
3.54%
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%
$2,335,780
$2.3M
Cap Rate 7%
$1,668,414
$1.7M
Cap Rate 9%
$1,297,656
$1.3M
Market Conditions
NOI Build-Up for 16,100 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
$193.2K $12.00/SF
− Vacancy
−$13.5K −$0.84/SF
EGI
$179.7K $11.16/SF
− OpEx
−$62.9K −$3.91/SF
NOI
$116.8K $7.25/SF
Area
Kansas City, KS
Vacancy
7.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
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%
$2,335,780
Cap Rate 7%
$1,668,414
Cap Rate 9%
$1,297,656
Alternative Uses
Best Use
Flex RnD
$1.67M
$1.46M – $1.95M
NOI $116,789 @ 7.0% cap · market cap 3.54%
Second Best
Warehouse
$1.66M
$1.45M – $1.94M
NOI $116,391 @ 7.0% cap · market cap 3.53%
Theoretical Best
Office A
$2.67M
$2.33M – $3.11M
NOI $186,712 @ 7.0% cap · market cap 5.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
7
Drive-in doors
Location Intelligence
Trade Area within ½ mile
261
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 66112, KS
12,507
Population
5,512
Households
2.3
Avg Household Size
36
Median Age
29%
College-Educated
88%
High-School Grad
5.5 sq mi
ZIP Area
2,274
Density / Sq Mi
$62,824
Median Household Income
$38,441
Median Earnings
$1,132
Median Rent
$186,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Retail/commercial building with air-conditioned office and heated warehouse, supported by multiple drive-in doors.
Where is this flex space located?
The property is located at 7301 State Ave Kansas City, KS.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: 16,100 SF retail/commercial building with 5,000 SF office and 11,100 SF warehouse; Heated warehouse plus air‑conditioned office and showroom space; Five 10 29 and two 12 29 drive‑in doors
