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Listing Agency: NAI Heartland | Kansas City Show Phone

Listed By: Evan Calkins Show Phone

Source: Moodyscre

Added: Feb 5 Changed: Sep 15 Last Checked: Oct 15 at 1:55AM

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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 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.

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 / Yr

$77,364

Cap Rate

3.03%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,547,280 $1.5M

Cap Rate 7%

$1,105,200 $1.1M

Cap Rate 9%

$859,600 $859.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 17,000 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $288,002 @ 7.0% cap · market cap 11.29%

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

Property Analytics

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Current Use

Warehouses

Suggested Use

Top Pick Real Estate Agency Hair Salon Restaurant Bakery (Bike/Boat/Book/etc) Store Dental Office

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

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

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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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