Office-Warehouse Flex
15055 W 116TH ST, Olathe, KS 66062
For Sale
Contact for pricing
A balanced office and warehouse layout pairs administrative space with room for materials, loading, and on-site parking.
Property Size5,984 SF
Lot Size1.00 Acre
Price / SF$183.82
Days on Market39
Property Features for 15055 W 116TH ST
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Warehouse & Industrial
Clear Height
Warehouse Space
Office Build-Out
Additional Details
Highway Access
Property Use
Building Details
Buildings
Building Size
Listing Agency:
Keller Williams Realty Partners, Inc
Listed By:
Taner Neighbors · License KS SP00227217
(913) 449-8166
Source:
Crexi
Added: Oct 2
Changed: Nov 8
Last Checked: Nov 8 at 3:50PM
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 Keller Williams Realty Partners, Inc
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Investment Insights
Based on property information with market context.
This 5,984-square-foot flex property combines 4,000 square feet of office area with 1,984 square feet of warehouse space on approximately one acre. The warehouse is approximately 67 feet long by 31 feet wide, with clear heights ranging from approximately 15 feet 3 inches to 16 feet 5 inches. A 10-foot-wide overhead door, estimated at 10 feet tall, complements an exterior loading dock with a leveler; a Lennox gas-fired unit heater serves the warehouse. The property has 16 surface parking spaces, including one designated accessible space. Structural piers and polyjacking were completed by Spartan in March 2026.
The site is near the 119th Street and I-35 interchange, with the 119th Street corridor’s restaurants, retailers, hotels, and services nearby. A Home Depot contractor Pro Desk is also in the surrounding area. Square footage is per CoStar; dimensions and clear heights are approximate.
The site is near the 119th Street and I-35 interchange, with the 119th Street corridor’s restaurants, retailers, hotels, and services nearby. A Home Depot contractor Pro Desk is also in the surrounding area. Square footage is per CoStar; dimensions and clear heights are approximate.
Key Highlights
- 5,984 square feet total: 4,000 square feet of office and 1,984 square feet of warehouse
- Approximately one acre
- Warehouse measures approximately 67 feet by 31 feet; clear heights are approximately 15′3″–16′5″
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,425
Cap Rate
5.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,228,500
$1.2M
Cap Rate 7%
$877,500
$877.5K
Cap Rate 9%
$682,500
$682.5K
Market Conditions
NOI Build-Up for 5,984 SF
Gross rent
$100.5K $16.80/SF
− Vacancy
−$6.0K −$1.01/SF
EGI
$94.5K $15.79/SF
− OpEx
−$33.1K −$5.53/SF
NOI
$61.4K $10.26/SF
Area
Olathe, KS
Vacancy
6.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,228,500
Cap Rate 7%
$877,500
Cap Rate 9%
$682,500
Alternative Uses
Best Use
Flex RnD
$877.5K
$767.8K – $1.02M
NOI $61,425 @ 7.0% cap · market cap 5.58%
Second Best
Warehouse
$662.7K
$579.9K – $773.1K
NOI $46,388 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$1.77M
$1.55M – $2.06M
NOI $123,797 @ 7.0% cap · market cap 11.25%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Current Use
Lease Details
16 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
772
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 66062, KS
77,553
Population
29,350
Households
2.6
Avg Household Size
36
Median Age
53%
College-Educated
96%
High-School Grad
42.1 sq mi
ZIP Area
1,842
Density / Sq Mi
$116,248
Median Household Income
$55,718
Median Earnings
$1,349
Median Rent
$342,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Similar Off Market Nearby
- Firehouse Subs Olathe Station — 15137 W 119th St, Olathe, KS 66062
Frequently Asked Questions
What type of property is this?
Flex space - A balanced office and warehouse layout pairs administrative space with room for materials, loading, and on-site parking.
Where is this flex space located?
The property is located at 15055 W 116TH ST Olathe, KS.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 5,984 square feet total: 4,000 square feet of office and 1,984 square feet of warehouse; Approximately one acre; Warehouse measures approximately 67 feet by 31 feet; clear heights are approximately 15′3″–16′5″
