Building Details

Building Size 26,626 SF

Buildings 2

Stories 1

Tenancy Multi

Listing Agency: Compass Realty Group

Listed By: Debbie Breuer Show Phone

Source: Evrealestate

Added: Oct 11 Changed: Oct 13 Last Checked: Oct 14 at 10:58PM

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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 Compass Realty Group

Investment Insights

Based on property information with market context.

The retail property at 15510/15520 State Avenue includes a multi-tenant center of approximately 26,000 square feet and a separate 1,400-square-foot building with a drive-through. The property is 100% leased to long-term tenants and includes 115 parking spaces. Zoning is CP-1.

The property is in Basehor, Kansas, six miles from Kansas Speedway and the Legends Shopping area. Its State Avenue address places the two buildings within one retail property.

Key Highlights

• Approximately 26,000‑square‑foot multi‑tenant retail center
• Separate 1,400‑square‑foot building with drive‑through
• 100% leased to long‑term tenants

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$257,386

Cap Rate

6.43%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,147,720 $5.1M

Cap Rate 7%

$3,676,943 $3.7M

Cap Rate 9%

$2,859,844 $2.9M

Market Conditions

NOI Build-Up for 26,626 SF

Gross rent

$383.4K $14.40/SF

− Vacancy

−$15.7K −$0.59/SF

EGI

$367.7K $13.81/SF

− OpEx

−$110.3K −$4.14/SF

NOI

$257.4K $9.67/SF

Area

Leavenworth 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 Rate 5%

$5,147,720

Cap Rate 7%

$3,676,943

Cap Rate 9%

$2,859,844

Alternative Uses

Best Use

Retail

$3.68M

$3.22M – $4.29M (±1% cap)

NOI $257,386 @ 7.0% cap · market cap 6.43%

Second Best

—

—

no second resolved use

Theoretical Best

Office B

$5.24M

$4.58M – $6.11M (±1% cap)

NOI $366,640 @ 7.0% cap · market cap 9.17%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Shopping centers

Suggested Use

Top Pick Real Estate Agency Building Supply Big Box & Wholesale Store Auto Parts Store HVAC Service Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

221

Businesses Nearby

50k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 49% Dining 26% Home Improvements & Furnishings 24%

Basehor #2 Shops & Services

20,072 visits/mo 0.1 miles

Bomgaars Home Improvements & Furnishings

12,199 visits/mo 0.3 miles

SONIC Drive In Dining

9,226 visits/mo 0.0 miles

The UPS Store Shops & Services

2,625 visits/mo 0.3 miles

Community National Bank Shops & Services

1,831 visits/mo 0.3 miles

Demographics for 66007, KS

9,875

Population

3,706

Households

2.7

Avg Household Size

41

Median Age

40%

College-Educated

97%

High-School Grad

31.4 sq mi

ZIP Area

314

Density / Sq Mi

$108,698

Median Household Income

$62,679

Median Earnings

$1,173

Median Rent

$353,000

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this shopping centers located? What is the asking price? Find similar properties What are key features of this property?

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Similar Off Market Nearby

• Pinehurst North Retail Center — State Ave, Basehor, KS 66007

Frequently Asked Questions

What type of property is this?

Shopping center - A separate drive-through building complements the leased retail property and its on-site parking.

Where is this shopping center located?

The property is located at 15510/15520 State Avenue Basehor, KS.

What is the asking price?

The asking price for this property is $4,000,000.

What are key features of this property?

This property features: Approximately 26,000‑square‑foot multi‑tenant retail center; Separate 1,400‑square‑foot building with drive‑through; 100% leased to long‑term tenants