Building Details

Year Built 1978

Tenancy Single

Listing Agency: JLL - Kansas City/Overland Park, Kansas

Listed By: Nick Tinnel · License #MO

Source: Crexi

Added: Aug 17, 2024 Changed: Sep 4 Last Checked: Sep 3 at 2:32AM

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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 JLL - Kansas City/Overland Park, Kansas

Investment Insights

Based on property information with market context.

The property is a manufacturing building offering approximately 31,200 square feet of space. The facility includes about 4,225 square feet of office area and features a clear height of 20 feet. Electrical capacity is supported by a 3,000 Amps 480/277 volt, 3-phase power supply. Situated on an approximately 2.42-acre site, the property provides 2 dock-high doors, 1 drive-in door, and 24 surface parking spaces. Noteworthy features include LED lighting, air conditioning throughout, a 10-ton bridge crane, and bus ducts. The seller is willing to consider a leaseback arrangement for 8-12 months or offer a delayed closing, presenting a strategic opportunity for businesses seeking manufacturing amenities.

Key Highlights

• ±31,200 SF manufacturing building with ±4,225 SF of office space.
• Flexible seller willing to leaseback for 8‑12 months or offer a delayed closing.
• Equipped with a 10‑Ton bridge crane and bus ducts.

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

$121,356

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

3.24%

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%

$2,427,120 $2.4M

Cap Rate 7%

$1,733,657 $1.7M

Cap Rate 9%

$1,348,400 $1.3M

Market Conditions

NOI Build-Up for 31,200 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

$183.5K $5.88/SF

− Vacancy

−$10.1K −$0.32/SF

EGI

$173.4K $5.56/SF

− OpEx

−$52.0K −$1.67/SF

NOI

$121.4K $3.89/SF

Area

Clay County, MO

Vacancy

5.50%

Lease Rate

$5.88 /SF/Yr

Expense Ratio

30.00%

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%

$2,427,120

Cap Rate 7%

$1,733,657

Cap Rate 9%

$1,348,400

Alternative Uses

Best Use

Industrial

$1.73M

$1.52M – $2.02M (±1% cap)

NOI $121,356 @ 7.0% cap · market cap 3.24%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$9.55M

$8.36M – $11.14M (±1% cap)

NOI $668,678 @ 7.0% cap · market cap 17.83%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Manufacturing properties

Suggested Use

Top Pick Real Estate Agency Parking Lot & Garage HVAC Service Law Firm Plumbing Service Kitchen & Bath Showroom

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

78

Businesses Nearby

Explore this area Business Placement

Demographics for 64161, MO

483

Population

148

Households

3.3

Avg Household Size

39

Median Age

11%

College-Educated

83%

High-School Grad

16.0 sq mi

ZIP Area

30

Density / Sq Mi

$62,250

Median Household Income

$45,089

Median Earnings

$1,411

Median Rent

$136,700

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this manufacturing properties 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?

Manufacturing property - 31,200 SF manufacturing building with leaseback or delayed closing.

Where is this manufacturing property located?

The property is located at 7200 NE Birmingham Rd Randolph, MO.

What is the asking price?

The asking price for this property is $3,750,000.

What are key features of this property?

This property features: ±31,200 SF manufacturing building with ±4,225 SF of office space.; Flexible seller willing to leaseback for 8‑12 months or offer a delayed closing.; Equipped with a **10‑Ton bridge crane and bus ducts.**