Building Details

Year Built 2005

Listing Agency: KW KANSAS CITY METRO b***@kwkey.com Show Phone

Listed By: Asiyah Lites-Rasheed Show Phone

Source: Legendaryapartmentbrokers

Added: Sep 3 Changed: Oct 29 Last Checked: Oct 28 at 4:19PM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

Located within Prairie Meadows, this 1,250-square-foot retail suite has its own HVAC system and utility meters, along with fire sprinklers. The space was previously used as a tattoo studio. The center, built in 2005, includes a mix of national and local businesses, including AT&T, Papa Murphy’s, and Grand Slam Liquor.

The property at 608 Tulip Drive in Bonner Springs sits directly across from the Bonner Springs Walmart Supercenter. K-7 Highway is nearby, with access to K-7 and I-70. Area traffic counts exceed 23,100 vehicles per day. Storefront and monument signage options are available.

Parking is provided in front of the suite, with additional spaces and access behind the building for employees, deliveries, and inventory handling.

Key Highlights

• 1,250 SF retail suite in Prairie Meadows
• Across from Bonner Springs Walmart Supercenter
• Area traffic counts exceed 23,100 vehicles per day

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$12,083

Suggested Prices Based on Cap Rates

Cap Rate 5%

$241,660 $241.7K

Cap Rate 7%

$172,614 $172.6K

Cap Rate 9%

$134,256 $134.3K

What to ask about pricing

Market Conditions

NOI Build-Up for 1,250 SF

Gross rent

$18.0K $14.40/SF

− Vacancy

−$738 −$0.59/SF

EGI

$17.3K $13.81/SF

− OpEx

−$5.2K −$4.14/SF

NOI

$12.1K $9.67/SF

Area

Wyandotte County, KS

Vacancy

4.10%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$241,660

Cap Rate 7%

$172,614

Cap Rate 9%

$134,256

Alternative Uses

Best Use

Retail

$172.6K

$151.0K – $201.4K (±1% cap)

NOI $12,083 @ 7.0% cap · market cap 75,518.75%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$280.1K

$245.1K – $326.8K (±1% cap)

NOI $19,609 @ 7.0% cap · market cap 122,556.25%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Retail space

Suggested Use

Top Pick Building Supply Law Firm Auto Parts Store HVAC Service Dental Office 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.

Location Intelligence

Trade Area within ½ mile

194

Businesses Nearby

183k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 39% Superstores 33% Shops & Services 18% Home Improvements & Furnishings 4%

Walmart Superstores

61,335 visits/mo 0.2 miles

McDonald's Dining

35,967 visits/mo 0.1 miles

Dollar Tree Shops & Services

15,635 visits/mo 0.2 miles

Starbucks Dining

14,386 visits/mo 0.2 miles

BP Shops & Services

10,607 visits/mo 0.2 miles

Demographics for 66012, KS

10,126

Population

3,588

Households

2.8

Avg Household Size

39

Median Age

28%

College-Educated

89%

High-School Grad

39.7 sq mi

ZIP Area

255

Density / Sq Mi

$96,264

Median Household Income

$54,394

Median Earnings

$1,069

Median Rent

$248,000

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Frequently Asked Questions

What type of property is this?

Retail space - This shopping-center space has dedicated utility meters, front and rear parking access, and options for storefront and monument signage.

Where is this retail space located?

The property is located at 608 Tulip Drive Bonner Springs, KS.

What are key features of this property?

This property features: 1,250 SF retail suite in Prairie Meadows; Across from Bonner Springs Walmart Supercenter; Area traffic counts exceed 23,100 vehicles per day