Building Details

Building Size 10,600 SF

Year Built 1980

Listing Agency: SVN | Encompass Commercial, LLC

Listed By: Sterling H. Scott · License #MO #2021033673 Show Phone

Source: Svn

Added: Jun 29 Changed: Oct 4 Last Checked: Oct 5 at 4:00PM

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Investment Insights

Based on property information with market context.

This apartment building consists of 12 units and appears to be constructed in the 1980s. The property includes pitched roofs, and each unit has individual electric and gas service. Laundry is available via washer and dryer located in the basement, and residents have balconies.

The asset is also described as having a large parcel that supports flexibility for an owner. In addition to the 12 units, there is an additional parcel that may provide development optionality for the next owner.

For tenants or operators seeking a multifamily property with in-unit utility separation and on-site basement laundry access, this configuration can support day-to-day convenience. For buyers evaluating long-term ownership, the included additional parcel and large site provide something to work with beyond the existing apartment count.

Key Highlights

• 1980‑built 12‑unit apartment building with well‑kept interiors and balconies
• Individual electric and gas utilities for residents
• Basement laundry includes washer and dryer

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$98,119

Cap Rate

7.27%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,962,380 $2.0M

Cap Rate 7%

$1,401,700 $1.4M

Cap Rate 9%

$1,090,211 $1.1M

Market Conditions

NOI Build-Up for 10,600 SF

Gross rent

$190.8K $18.00/SF

− Vacancy

−$12.4K −$1.17/SF

EGI

$178.4K $16.83/SF

− OpEx

−$80.3K −$7.57/SF

NOI

$98.1K $9.26/SF

Area

Leavenworth County, KS

Vacancy

6.50%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,962,380

Cap Rate 7%

$1,401,700

Cap Rate 9%

$1,090,211

Alternative Uses

Best Use

Apartment 5plus

$1.40M

$1.23M – $1.64M (±1% cap)

NOI $98,119 @ 7.0% cap · market cap 7.27%

Second Best

—

—

no second resolved use

Theoretical Best

Office B

$2.09M

$1.82M – $2.43M (±1% cap)

NOI $145,962 @ 7.0% cap · market cap 10.81%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Real Estate Agency Law Firm Restaurant HVAC Service Nail Salon Electrical Service

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

12

Residential units

Location Intelligence

Trade Area within ½ mile

89

Businesses Nearby

Explore this area Business Placement

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 Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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

Frequently Asked Questions

What type of property is this?

Apartment building - Well-kept apartment building with individual utilities, basement laundry, and balconies on a large development-minded parcel.

Where is this apartment building located?

The property is located at 2312 N 155th St Basehor, KS.

What is the asking price?

The asking price for this property is $1,350,000.

What are key features of this property?

This property features: 1980‑built 12‑unit apartment building with well‑kept interiors and balconies; Individual electric and gas utilities for residents; Basement laundry includes washer and dryer