Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    8291-8309 Melrose Drive Overland Park, KS 66214

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Commercial space available for lease in Overland Park, Kansas.

    Type:Industrial
    Added:
    Sep 23, 2023
    Days on Market:
    940
    Last Refresh:
    Mar 17 at 1:20 pm

    Property Features for 8291-8309 Melrose Drive

    General Information

    Standard status
    Active
    Property subtype
    Industrial

    Building Details

    Year Built
    1985

    Spaces For Lease

    at 8291-8309 Melrose Drive Contact us

    Suite 8309 $7 /Mo

    Size
    5,430 SF
    Type
    Industrial
    220SF Warehouse
    Contact us

    Suite 8307 $8 /Mo

    Size
    3,354 SF
    Type
    Industrial
    Contact us

    We can help!

    Listing Contact
    Andrew Block

    Listing agent Andrew Block License #KS 00237203

    Listing office Block Real Estate Services LLC

    Listing date Sep 23, 2023

    Source Crexi

    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 Block Real Estate Services LLC

    Overview

    Commercial Space for Lease

    Commercial space is available for lease at a property located on Melrose Drive in Overland Park, Kansas.
    Location Intelligence

    Current Use by Public Records

    Specialty properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Overland Park
    County
    Johnson
    State
    Kansas
    Longitude
    -94.706719
    Latitude
    38.976944

    Nearby Similar for Lease

    • $15/mo

      Overland Park Office Space For Lease

      745 SF office space in the heart of Overland Park.
      10801 W 87th Street, Overland Park, KS 66214
      View Details
    • Contact for pricing

      Overland Park Office Sub-Lease

      Office space for sub-lease in Overland Park, Kansas.
      8675 W 96th Street, Overland Park, KS 66212
      View Details
    • Contact for pricing

      KS, Overland Park - Metcalf Avenue

      14400 Metcalf Ave, Overland Park, KS 66221
      View Details
    • Sponsored
      Contact for pricing

      Lighton Tower

      7500 College Blvd, Unit 5TH, Overland Park, KS 66210
      View Details
    • Contact for pricing

      Commerce Plaza

      7300 110Th St, Unit 7TH, Overland Park, KS 66210
      View Details
    • $21/mo

      Overland Park Office Space Available

      Office space for lease in Overland Park, Kansas.
      8400 W 110th St, Overland Park, KS
      View Details
    • $23/mo

      Class A Office Space Available

      98,500 SF Class A office space for lease.
      8050 Marshall Dr, Overland Park, KS
      View Details
    • $26/mo

      Overland Park Multi-Tenant Office Building

      Sixteen-story office building with deli, conference room, and on-site management.
      9401 Indian Creek Pkwy, Overland Park, KS
      View Details
    • $12/mo

      Overland Park Showroom with Warehouse

      9,700 SF showroom, office, and warehouse space for sublease.
      7501 Metcalf Avenue, Overland Park, KS
      View Details
    • $22/mo

      Kansas City Office Space Available

      Office space with highway access, flexible leasing, and modern amenities.
      8900 Indian Creek Pkwy, Overland Park, KS
      View Details
    • $24/mo

      Furnished Office Space with Amenities

      Furnished office with fitness room, highway access, and green space.
      8717 W 110th St, Overland Park, KS
      View Details
    • $25/mo

      Overland Park Office Space Available

      High-visibility office space in Overland Park, near I-435.
      7101 College Boulevard, Overland Park, KS, 66210
      View Details

    FAQs

    What type of property is this?
    Specialty property - Commercial space available for lease in Overland Park, Kansas.
    Where is this specialty property located?
    The property is located at 8291-8309 Melrose Drive Overland Park, KS.
    What are key features of this property?
    This property features: Year Built: 1985
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Andrew Block
    Real Estate License ID: KS 00237203
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!