Downtown Overland Park Office
For Sale
Contact for pricing
Pending
8234 Robinson St, Overland Park, KS 66204
Renovated 4,000 SF office in downtown Overland Park.
Property Size4,000 SF
Days on Market158
Property Features for 8234 Robinson St
General Information
Standard status
Pending
Size
4,000 SF
Property subtype
Office
Investment Type
Owner/User
Building Details
Year Built
1979
Year Renovated
2020
Buildings
1
Stories
1
Listing Agency:
Waterford Property Company LLC
Listed By:
Joe O'Connor · License #2023041608
Source:
Crexi
Added: Mar 19
Changed: Aug 8
Last Checked: Jul 24 at 3:49PM
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 Waterford Property Company LLC
Investment Insights
Based on property information with market context.
Located in Downtown Overland Park, this property offers 4,000 square feet of commercial space. The space has been fully renovated and features an exposed ceiling. Parking is available at a ratio of 5 spaces per 1,000 square feet. The property is within walking distance of restaurants and coffee shops.
Key Highlights
- Located in Downtown Overland Park
- Fully renovated with exposed ceiling
- 4,000 square feet
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
$50,715
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
5.07%
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%
$1,014,300
$1.0M
Cap Rate 7%
$724,500
$724.5K
Cap Rate 9%
$563,500
$563.5K
Market Conditions
NOI Build-Up for 4,000 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
$84.0K $21.00/SF
− Vacancy
−$16.4K −$4.10/SF
EGI
$67.6K $16.90/SF
− OpEx
−$16.9K −$4.23/SF
NOI
$50.7K $12.68/SF
Area
Overland Park, KS
Vacancy
19.50%
Lease Rate
$21.00 /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%
$1,014,300
Cap Rate 7%
$724,500
Cap Rate 9%
$563,500
Alternative Uses
Best Use
Office B
$724.5K
$633.9K – $845.3K
NOI $50,715 @ 7.0% cap · market cap 5.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.03M
$901.8K – $1.20M
NOI $72,144 @ 7.0% cap · market cap 7.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,031
Businesses Nearby
Explore this area
Business Placement
Demographics for 66204, KS
19,381
Population
9,292
Households
2.1
Avg Household Size
36
Median Age
46%
College-Educated
92%
High-School Grad
5.0 sq mi
ZIP Area
3,876
Density / Sq Mi
$75,248
Median Household Income
$50,567
Median Earnings
$1,319
Median Rent
$254,400
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?
Office units - Renovated 4,000 SF office in downtown Overland Park.
Where is this office units located?
The property is located at 8234 Robinson St Overland Park, KS.
What is the asking price?
The asking price for this property is $999,950.
What are key features of this property?
This property features: Located in Downtown Overland Park; Fully renovated with exposed ceiling; 4,000 square feet
