Fully Occupied Leawood Office
For Sale
$6,000,000
4300 W 133rd St, Leawood, KS 66209
26,570 SF fully-occupied office building with three tenants.
Property Size26,750 SF
Price / SF$224.30
Days on Market288
Property Features for 4300 W 133rd St
General Information
Standard status
Active
Size
26,750 SF
Class
B
Property subtype
office
Listing Agency:
Kansas City
(314) 338-2080
Listed By:
Jim Gates · License #2001022708
(913) 469-4638
Source:
Property.jll
Added: Nov 24, 2025
Changed: Sep 8
Last Checked: Sep 8 at 7:05AM
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 City
Investment Insights
Based on property information with market context.
The property at 4300 W. 133rd St. in Leawood, KS, is a 26,570-square-foot office building. The building is fully occupied by three tenants, with Marsh and McLennan Agency (Cline Wood) as the anchor tenant. Two medical tenants occupy the southwest portion of the building. The Marsh suite includes a newly renovated common area space completed in November 2019, suitable for large meetings, corporate events, and company gatherings. It also features a state-of-the-art training room equipped with a projection screen and monitor.
Key Highlights
- Fully‑occupied building.
- Anchored by Marsh and McLennan Agency (Cline Wood).
- 26,570‑square‑foot office building in Leawood, KS.
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
$368,868
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
6.15%
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%
$7,377,360
$7.4M
Cap Rate 7%
$5,269,543
$5.3M
Cap Rate 9%
$4,098,533
$4.1M
Market Conditions
NOI Build-Up for 26,750 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
$616.3K $23.04/SF
− Vacancy
−$124.5K −$4.65/SF
EGI
$491.8K $18.39/SF
− OpEx
−$123.0K −$4.60/SF
NOI
$368.9K $13.79/SF
Area
Johnson County, KS
Vacancy
20.20%
Lease Rate
$23.04 /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%
$7,377,360
Cap Rate 7%
$5,269,543
Cap Rate 9%
$4,098,533
Alternative Uses
Best Use
Office B
$5.27M
$4.61M – $6.15M
NOI $368,868 @ 7.0% cap · market cap 6.15%
Second Best
Healthcare Medical
$4.94M
$4.33M – $5.77M
NOI $346,125 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$6.47M
$5.66M – $7.55M
NOI $453,180 @ 7.0% cap · market cap 7.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
466
Businesses Nearby
Explore this area
Business Placement
Demographics for 66209, KS
20,056
Population
8,683
Households
2.3
Avg Household Size
48
Median Age
75%
College-Educated
98%
High-School Grad
6.5 sq mi
ZIP Area
3,086
Density / Sq Mi
$148,081
Median Household Income
$76,040
Median Earnings
$1,465
Median Rent
$554,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - 26,570 SF fully-occupied office building with three tenants.
Where is this office building located?
The property is located at 4300 W 133rd St Leawood, KS.
What is the asking price?
The asking price for this property is $6,000,000.
What are key features of this property?
This property features: Fully‑occupied building.; Anchored by Marsh and McLennan Agency (Cline Wood).; 26,570‑square‑foot office building in Leawood, KS.
