Building Details

Year Built 1948

Construction brick & concrete

Listing Agency: Kansas Commercial Real Estate Services Inc

Listed By: Caden Merrick · License #00251579 Show Phone

Source: Crexi

Added: Mar 11 Changed: Oct 8 Last Checked: Oct 23 at 3:55AM

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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 Kansas Commercial Real Estate Services Inc

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Investment Insights

Based on property information with market context.

Solid brick and concrete flex industrial facility featuring a wood column and beam system and a functional mix of office, production, and cold warehouse space. The layout includes three offices, including one with a fireplace, a vault, workroom, lab, kitchen, and three restrooms. Operational support spaces include a climate-controlled production area and a dedicated concrete block tool and machining room.

Two overhead doors provide efficient loading and distribution, supported by electrical infrastructure including 110/220 power and 3-phase service in select areas. The north warehouse includes a ramped mezzanine area for added storage or operational flexibility, with part of the mezzanine finished in hardwood flooring.

Convenient access to Highway 24/40 supports shipping, logistics, and regional travel. The property is configured to support both administrative functions and temperature-sensitive operations within the same enclosed facility.

Key Highlights

• 1948 brick and concrete facility with office, production, and cold warehouse space
• Office layout includes 3 offices (one with a fireplace), a vault, workroom, lab, kitchen, and 3 restrooms
• 4,300+/- SF climate‑controlled production area for temperature‑sensitive operations

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$31,527

Cap Rate

7.01%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$630,540 $630.5K

Cap Rate 7%

$450,386 $450.4K

Cap Rate 9%

$350,300 $350.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 18,464 SF

Gross rent

$39.9K $2.16/SF

− Vacancy

−$2.8K −$0.15/SF

EGI

$37.1K $2.01/SF

− OpEx

−$5.6K −$0.30/SF

NOI

$31.5K $1.71/SF

Area

Jefferson County, KS

Vacancy

7.00%

Lease Rate

$2.16 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$630,540

Cap Rate 7%

$450,386

Cap Rate 9%

$350,300

Alternative Uses

Best Use

Flex RnD

$1.23M

$1.08M – $1.44M (±1% cap)

NOI $86,123 @ 7.0% cap · market cap 19.14%

Second Best

Warehouse

$450.4K

$394.1K – $525.5K (±1% cap)

NOI $31,527 @ 7.0% cap · market cap 7.01%

Theoretical Best

Self Storage

$2.08M

$1.82M – $2.43M (±1% cap)

NOI $145,792 @ 7.0% cap · market cap 32.40%

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

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Storage Facility Big Box & Wholesale Store Grocery & Convenience Store (Bike/Boat/Book/etc) Store Carpet & Flooring Store Garden Center

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

Yes

Heavy power

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

40

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 66073, KS

2,295

Population

968

Households

2.4

Avg Household Size

43

Median Age

27%

College-Educated

96%

High-School Grad

65.1 sq mi

ZIP Area

35

Density / Sq Mi

$91,705

Median Household Income

$53,452

Median Earnings

$789

Median Rent

$189,300

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

Frequently Asked Questions

What type of property is this?

Flex space - Brick and concrete facility with office, production space, and cold warehouse areas plus two overhead loading doors.

Where is this flex space located?

The property is located at 204 S Lecompton Rd Perry, KS.

What is the asking price?

The asking price for this property is $450,000.

What are key features of this property?

This property features: 1948 brick and concrete facility with office, production, and cold warehouse space; Office layout includes 3 offices (one with a fireplace), a vault, workroom, lab, kitchen, and 3 restrooms; 4,300+/- SF climate‑controlled production area for temperature‑sensitive operations