Multi-Tenant Office
For Sale
Contact for pricing
10965 Granada Ln, Overland Park, KS 66211
Masonry office building with common corridors supports full-floor or multi-tenant occupancy.
Property Size18,739 SF
Price / SF$138.75
Days on Market1168
Property Features for 10965 Granada Ln
General Information
Standard status
Active
Size
18,739 SF
Total Parking Spaces
71
Property subtype
Office
Building Details
Year Built
1983
Listing Agency:
NAI Heartland
(913) 956-5815
Listed By:
Mark Talley · License #00227953
Source:
Crexi
Added: Jun 22, 2023
Changed: Aug 30
Last Checked: Aug 30 at 8:28PM
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
Investment Insights
Based on property information with market context.
This 18,739-square-foot office building combines a masonry exterior with banded glass on all sides. Common corridors are already in place, allowing the property to accommodate either full-floor users or multiple occupants. Each floor provides just over 6,000 square feet, supporting flexible office configuration within the existing structure.
Located at 10965 Granada Lane in Overland Park’s Fox Hill area, the property offers immediate highway access and connections to pedestrian and biking trails. Walkable amenities are available within the surrounding College Boulevard market. Built in 1983, the building presents an established office setting for an owner-user or multi-tenant strategy.
Located at 10965 Granada Lane in Overland Park’s Fox Hill area, the property offers immediate highway access and connections to pedestrian and biking trails. Walkable amenities are available within the surrounding College Boulevard market. Built in 1983, the building presents an established office setting for an owner-user or multi-tenant strategy.
Key Highlights
- 18,739 SF office building in Overland Park’s Fox Hill area
- Just over 6,000 SF per floor
- Common corridors support full‑floor or multitenant occupancy
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
$237,587
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
9.14%
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%
$4,751,740
$4.8M
Cap Rate 7%
$3,394,100
$3.4M
Cap Rate 9%
$2,639,856
$2.6M
Market Conditions
NOI Build-Up for 18,739 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
$393.5K $21.00/SF
− Vacancy
−$76.7K −$4.10/SF
EGI
$316.8K $16.90/SF
− OpEx
−$79.2K −$4.23/SF
NOI
$237.6K $12.68/SF
Area
Overland Park, KS
Vacancy
19.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$4,751,740
Cap Rate 7%
$3,394,100
Cap Rate 9%
$2,639,856
Alternative Uses
Best Use
Office B
$3.39M
$2.97M – $3.96M
NOI $237,587 @ 7.0% cap · market cap 9.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.83M
$4.22M – $5.63M
NOI $337,977 @ 7.0% cap · market cap 13.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
930
Businesses Nearby
Explore this area
Business Placement
Demographics for 66211, KS
4,917
Population
2,963
Households
1.7
Avg Household Size
50
Median Age
77%
College-Educated
99%
High-School Grad
4.3 sq mi
ZIP Area
1,143
Density / Sq Mi
$110,662
Median Household Income
$72,417
Median Earnings
$1,494
Median Rent
$589,400
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Masonry office building with common corridors supports full-floor or multi-tenant occupancy.
Where is this office building located?
The property is located at 10965 Granada Ln Overland Park, KS.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 18,739 SF office building in Overland Park’s Fox Hill area; Just over 6,000 SF per floor; Common corridors support full‑floor or multitenant occupancy
