Truck Service Auto
For Sale
Contact for pricing
23810 W 83rd Ter, Lenexa, KS 66227
Purpose-built service facility with drive-through bays, substantial power, office space, and truck-oriented building features.
Property Size15,000 SF
Lot Size1.75 Acres
Price / SF$285.67
Days on Market567
Property Features for 23810 W 83rd Ter
General Information
Standard status
Active
Size
15,000 SF
Lot size
1.75 Acres
Property subtype
INDUSTRIAL
Site & Location
Road Access
Yes
Fenced Yard
No
Utilities to Site
Yes
Warehouse & Industrial
Clear Height
22 ft
Office Build-Out
1,000 SF
Drive-In Doors
14
Column Spacing
24 x 24 ft
Power
600 amps
Voltage
480 V
Three-Phase Power
Yes
Sprinkler System
Yes
Additional Details
Service Bays
7
Amenities
ESFR Fire Protection
Radiant Heat in Warehouse
AC & Heat in Office
Built-In Floor Drains to a Water Separator System
600 AMP 480 Volt 3-Phase
22' Clear Height
24 x 24 Column Spacing
Exterior Pole & Wall Pack Lighting
Building Details
Buildings
1
Building Size
15,000 SF
Construction
tilt-up concrete
Listing Agency:
Haith and Company, Inc.
(913) 888-3456
Listed By:
Josh Haith · License #2011012354
Source:
Moodyscre
Added: Feb 27, 2025
Changed: Sep 13
Last Checked: Sep 16 at 8:12PM
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 Haith and Company, Inc.
Investment Insights
Based on property information with market context.
This 15,000 SF auto shop is configured for truck service and maintenance, with seven 14' x 16' drive-through bays and 14 total drive-in doors. The building offers a 22' clear height, 24 x 24 column spacing, and a 1,000 SF office with common area and room for a future break room. Three bathrooms serve the office and shop areas, while a potential mezzanine above the office provides additional storage capacity.
Building infrastructure includes 600 AMP, 480 Volt, 3-Phase power, built-in floor drains connected to a water separator system, and ESFR fire protection. Office areas have AC and heat, while the warehouse is equipped with radiant heat. Tilt-up concrete construction, a new concrete pad, exterior pole and wall-pack lighting, and the ability to fence the entire property support ongoing service operations.
The 1.75-acre property is positioned in a cul-de-sac off 83rd Street at 23810 W 83rd Ter in Lenexa, Kansas. Roof and parking lot drainage flows west to a Parana that drains to an offsite detention pond.
Building infrastructure includes 600 AMP, 480 Volt, 3-Phase power, built-in floor drains connected to a water separator system, and ESFR fire protection. Office areas have AC and heat, while the warehouse is equipped with radiant heat. Tilt-up concrete construction, a new concrete pad, exterior pole and wall-pack lighting, and the ability to fence the entire property support ongoing service operations.
The 1.75-acre property is positioned in a cul-de-sac off 83rd Street at 23810 W 83rd Ter in Lenexa, Kansas. Roof and parking lot drainage flows west to a Parana that drains to an offsite detention pond.
Key Highlights
- 15,000 SF building on 1.75 acres at 23810 W 83rd Ter
- 7 - 14' x 16' drive‑through bays with 14 total drive‑in doors
- 22' clear height with 24 x 24 column spacing
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
$145,001
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
3.38%
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%
$2,900,020
$2.9M
Cap Rate 7%
$2,071,443
$2.1M
Cap Rate 9%
$1,611,122
$1.6M
Market Conditions
NOI Build-Up for 15,000 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
$216.0K $14.40/SF
− Vacancy
−$8.9K −$0.59/SF
EGI
$207.1K $13.81/SF
− OpEx
−$62.1K −$4.14/SF
NOI
$145.0K $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%
$2,900,020
Cap Rate 7%
$2,071,443
Cap Rate 9%
$1,611,122
Alternative Uses
Best Use
Retail
$2.07M
$1.81M – $2.42M
NOI $145,001 @ 7.0% cap · market cap 3.38%
Second Best
Warehouse
$975.2K
$853.3K – $1.14M
NOI $68,262 @ 7.0% cap · market cap 1.59%
Theoretical Best
Office A
$3.63M
$3.18M – $4.24M
NOI $254,120 @ 7.0% cap · market cap 5.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
22 ft
Clear height
14
Drive-in doors
7
Service bays
Yes
Sprinkler system
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
100
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 66227, KS
8,476
Population
3,431
Households
2.5
Avg Household Size
41
Median Age
68%
College-Educated
100%
High-School Grad
13.3 sq mi
ZIP Area
637
Density / Sq Mi
$132,532
Median Household Income
$71,027
Median Earnings
$1,989
Median Rent
$423,000
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
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Frequently Asked Questions
What type of property is this?
Auto shop - Purpose-built service facility with drive-through bays, substantial power, office space, and truck-oriented building features.
Where is this auto shop located?
The property is located at 23810 W 83rd Ter Lenexa, KS.
What is the asking price?
The asking price for this property is $4,285,000.
What are key features of this property?
This property features: 15,000 SF building on 1.75 acres at 23810 W 83rd Ter; 7 - 14' x 16' drive‑through bays with 14 total drive‑in doors; 22' clear height with 24 x 24 column spacing
