Lenexa Warehouse Space
For Sale
Contact for pricing
14400 College Blvd, Lenexa, KS
40,095 sqft warehouse space available for sale in Lenexa.
Property Size40,095 SF
Lot Size4.15 Acres
Price / SF$140.92
Days on Market410
Property Features for 14400 College Blvd
General Information
Standard status
Active
Size
40,095 SF
Lot size
4.15 Acres
Property subtype
INDUSTRIAL
Properties For Sale
at 14400 College Blvd Contact us- Floor
- Bldg
- Size
- 40,095 SF
- Type
- INDUSTRIAL
- Lease Type
- NNN
- Availability
- AVAILABLE, Now
- Sublease
- No
14400 College Blvd
- 33,084+/- SF Available for occupancy 1/1/2026
- 7,011+/- SF leased - Contact broker...
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Listing Agency:
CBRE | Kansas City
(816) 289-2808
Listed By:
Ben Whetstone · License #00231917
(816) 289-2808
Source:
Moodyscre
Added: Jul 18, 2025
Changed: Aug 9
Last Checked: Aug 30 at 9:44PM
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 CBRE | Kansas City
Investment Insights
Based on property information with market context.
This property offers a total space of 40,095 square feet and is located in Lenexa, Kansas.
Key Highlights
- Total Space Available: 40,095 sqft
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
$182,466
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
3.23%
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%
$3,649,320
$3.6M
Cap Rate 7%
$2,606,657
$2.6M
Cap Rate 9%
$2,027,400
$2.0M
Market Conditions
NOI Build-Up for 40,095 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
$229.3K $5.72/SF
− Vacancy
−$14.7K −$0.37/SF
EGI
$214.7K $5.35/SF
− OpEx
−$32.2K −$0.80/SF
NOI
$182.5K $4.55/SF
Area
Johnson County, KS
Vacancy
6.40%
Lease Rate
$5.72 /SF/Yr
Expense Ratio
15.00%
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%
$3,649,320
Cap Rate 7%
$2,606,657
Cap Rate 9%
$2,027,400
Alternative Uses
Best Use
Warehouse
$2.61M
$2.28M – $3.04M
NOI $182,466 @ 7.0% cap · market cap 3.23%
Second Best
Industrial
$2.15M
$1.88M – $2.51M
NOI $150,747 @ 7.0% cap · market cap 2.67%
Theoretical Best
Office A
$9.70M
$8.49M – $11.32M
NOI $679,262 @ 7.0% cap · market cap 12.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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?
Warehouse - 40,095 sqft warehouse space available for sale in Lenexa.
Where is this warehouse located?
The property is located at 14400 College Blvd Lenexa, KS.
What is the asking price?
The asking price for this property is $5,650,000.
What are key features of this property?
This property features: Total Space Available: **40,095 sqft**
