Warehouse with Drive-In
For Sale
Contact for pricing
15553 W 110th St, Lenexa, KS 66219
Warehouse facility with drive-in loading doors and quick access to I-35, I-435, and K-10.
Property Size17,000 SF
Price / SF$150
Days on Market207
Property Features for 15553 W 110th St
General Information
Standard status
Active
Size
17,000 SF
Property subtype
INDUSTRIAL
Additional Details
Highway Access
Yes
Drive-In Doors
7
Listing Agency:
NAI Heartland | Kansas City
(913) 362-1000
Listed By:
Seth Sinovic
(913) 219-2518
Source:
Moodyscre
Added: Feb 5
Changed: Aug 29
Last Checked: Aug 30 at 10:50PM
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 NAI Heartland | Kansas City
Investment Insights
Based on property information with market context.
This warehouse property provides ±17,000 SF for sale or lease, with seven drive-in loading doors measuring 12' x 10' each. The configuration supports commercial operations requiring direct vehicle access for loading and unloading.
Located at 15553 W 110th St in Lenexa, the property offers quick connections to I-35, I-435, and K-10. Its combination of substantial warehouse area and multiple drive-in doors provides a straightforward platform for industrial and distribution-related use.
Located at 15553 W 110th St in Lenexa, the property offers quick connections to I-35, I-435, and K-10. Its combination of substantial warehouse area and multiple drive-in doors provides a straightforward platform for industrial and distribution-related use.
Key Highlights
- ±17,000 SF available for sale or lease
- Seven 12' x 10' drive‑in loading doors
- Quick access to I‑35, I‑435, and K‑10
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
$77,364
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
3.03%
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%
$1,547,280
$1.5M
Cap Rate 7%
$1,105,200
$1.1M
Cap Rate 9%
$859,600
$859.6K
Market Conditions
NOI Build-Up for 17,000 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
$97.2K $5.72/SF
− Vacancy
−$6.2K −$0.37/SF
EGI
$91.0K $5.35/SF
− OpEx
−$13.7K −$0.80/SF
NOI
$77.4K $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%
$1,547,280
Cap Rate 7%
$1,105,200
Cap Rate 9%
$859,600
Alternative Uses
Best Use
Warehouse
$1.11M
$967.1K – $1.29M
NOI $77,364 @ 7.0% cap · market cap 3.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.11M
$3.60M – $4.80M
NOI $288,002 @ 7.0% cap · market cap 11.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
251
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 66219, KS
13,378
Population
7,044
Households
1.9
Avg Household Size
36
Median Age
55%
College-Educated
98%
High-School Grad
8.3 sq mi
ZIP Area
1,612
Density / Sq Mi
$91,144
Median Household Income
$59,148
Median Earnings
$1,458
Median Rent
$370,500
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse facility with drive-in loading doors and quick access to I-35, I-435, and K-10.
Where is this warehouse located?
The property is located at 15553 W 110th St Lenexa, KS.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: ±17,000 SF available for sale or lease; Seven 12' x 10' drive‑in loading doors; Quick access to I‑35, I‑435, and K‑10
