Multi-Tenant Flex
For Sale
Contact for pricing
310 N Winchester St, Olathe, KS 66062
Three suites combine office, showroom, warehouse, dock-high loading, and drive-in access within an M2-zoned property.
Property Size7,500 SF
Price / SF$166.67
Days on Market133
Property Features for 310 N Winchester St
General Information
Standard status
Active
Size
7,500 SF
Class
B
Property subtype
Industrial
Zoning
M2
Lease Type
Gross
Investment Type
Owner/User
Additional Details
Office Units
3
Amenities
drive-in doors
dock high loading
Building Details
Year Built
1984
Buildings
1
Stories
1
Units
3
Tenancy
Multi
Listing Agency:
Insight Commercial
(913) 568-1134
Listed By:
Kevin Combs · License #KS 00223303
Source:
Crexi
Added: Apr 21
Changed: Aug 29
Last Checked: Aug 31 at 2:21PM
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 Insight Commercial
Investment Insights
Based on property information with market context.
Built in 1984, this 7,500-square-foot flex property at 310 N Winchester St in Olathe, Kansas, contains three separate suites within an M2-zoned building. The configuration combines office, showroom, and warehouse areas for multiple occupancy arrangements.
Suite A totals 2,500 square feet, with approximately 40% finished office/showroom space, 60% warehouse area, and one 12x12 drive-in door. Suite B contains approximately 1,800 square feet, is primarily warehouse space, includes two offices, and has one 12x12 drive-in door; it is available as soon as May 1, 2026. Suite C measures approximately 3,200 square feet, with more than half devoted to office space, remaining warehouse area, dock-high loading, and one 12x12 drive-in door. Suite C is leased through May 2029.
Suite A totals 2,500 square feet, with approximately 40% finished office/showroom space, 60% warehouse area, and one 12x12 drive-in door. Suite B contains approximately 1,800 square feet, is primarily warehouse space, includes two offices, and has one 12x12 drive-in door; it is available as soon as May 1, 2026. Suite C measures approximately 3,200 square feet, with more than half devoted to office space, remaining warehouse area, dock-high loading, and one 12x12 drive-in door. Suite C is leased through May 2029.
Key Highlights
- 7,500‑square‑foot flex building constructed in 1984
- Three‑suite configuration with office, showroom, and warehouse areas
- M2 zoning at 310 N Winchester St, Olathe, KS 66062
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
$103,275
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
8.26%
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%
$2,065,500
$2.1M
Cap Rate 7%
$1,475,357
$1.5M
Cap Rate 9%
$1,147,500
$1.1M
Market Conditions
NOI Build-Up for 7,500 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
$162.0K $21.60/SF
− Vacancy
−$24.3K −$3.24/SF
EGI
$137.7K $18.36/SF
− OpEx
−$34.4K −$4.59/SF
NOI
$103.3K $13.77/SF
Area
Olathe, KS
Vacancy
15.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$2,065,500
Cap Rate 7%
$1,475,357
Cap Rate 9%
$1,147,500
Alternative Uses
Best Use
Office B
$1.48M
$1.29M – $1.72M
NOI $103,275 @ 7.0% cap · market cap 8.26%
Second Best
Flex RnD
$1.10M
$962.3K – $1.28M
NOI $76,986 @ 7.0% cap · market cap 6.16%
Theoretical Best
Office A
$2.22M
$1.94M – $2.59M
NOI $155,160 @ 7.0% cap · market cap 12.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Location Intelligence
Trade Area within ½ mile
1,473
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 66062, KS
77,553
Population
29,350
Households
2.6
Avg Household Size
36
Median Age
53%
College-Educated
96%
High-School Grad
42.1 sq mi
ZIP Area
1,842
Density / Sq Mi
$116,248
Median Household Income
$55,718
Median Earnings
$1,349
Median Rent
$342,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Three suites combine office, showroom, warehouse, dock-high loading, and drive-in access within an M2-zoned property.
Where is this flex space located?
The property is located at 310 N Winchester St Olathe, KS.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 7,500‑square‑foot flex building constructed in 1984; Three‑suite configuration with office, showroom, and warehouse areas; M2 zoning at 310 N Winchester St, Olathe, KS 66062
