Warehouse with Eight Dock
For Sale
Contact for pricing
8325-8339 Nieman Rd, Lenexa, KS 66214
Fenced, gated truck-accessible parking with eight dock doors and a flexible multi-tenant warehouse layout.
Property Size21,157 SF
Price / SF$90.10
Days on Market62
Property Features for 8325-8339 Nieman Rd
General Information
Standard status
Active
Size
21,157 SF
Property subtype
INDUSTRIAL
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Additional Details
Dock-High Doors
8
Building Details
Building Size
21,157 SF
Tenancy
Multi
Listing Agency:
Haith and Company, Inc.
(913) 888-3456
Listed By:
Jake LaFevers
(816) 642-7287
Source:
Moodyscre
Added: Jul 14
Changed: Sep 8
Last Checked: Sep 13 at 11:23AM
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 Haith and Company, Inc.
Investment Insights
Based on property information with market context.
This warehouse offers an owner-user setup with up to 21,157 SF available within a 24,416 SF facility. The layout is currently configured for six tenants, with suite sizes ranging from 1,400 to 8,326 SF. Operations are supported by eight dock doors.
The property features a fenced and gated back parking lot with truck accessibility, designed for easier loading and circulation. It’s located right off I-35 and Highway 69 in Lenexa, Kansas.
The building roof is approximately 20 years old, which may be a key consideration for insurance and long-term capital planning.
The property features a fenced and gated back parking lot with truck accessibility, designed for easier loading and circulation. It’s located right off I-35 and Highway 69 in Lenexa, Kansas.
The building roof is approximately 20 years old, which may be a key consideration for insurance and long-term capital planning.
Key Highlights
- Up to 21,157 SF available within a 24,416 SF warehouse
- Eight dock doors for loading and tenant access
- Currently set up for six tenants with 1,400–8,326 SF suites
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
$111,113
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
5.05%
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%
$2,222,260
$2.2M
Cap Rate 7%
$1,587,329
$1.6M
Cap Rate 9%
$1,234,589
$1.2M
Market Conditions
NOI Build-Up for 24,416 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
$139.7K $5.72/SF
− Vacancy
−$8.9K −$0.37/SF
EGI
$130.7K $5.35/SF
− OpEx
−$19.6K −$0.80/SF
NOI
$111.1K $4.55/SF
Area
Johnson County, KS
Vacancy
6.40%
Lease Rate
$5.72 /SF/Yr
Expense Ratio
15.00%
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%
$2,222,260
Cap Rate 7%
$1,587,329
Cap Rate 9%
$1,234,589
Alternative Uses
Best Use
Warehouse
$1.59M
$1.39M – $1.85M
NOI $111,113 @ 7.0% cap · market cap 5.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.91M
$5.17M – $6.89M
NOI $413,639 @ 7.0% cap · market cap 18.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
8
Dock-high doors
Multi-tenant
Tenancy
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,328
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 66214, KS
12,263
Population
5,652
Households
2.2
Avg Household Size
35
Median Age
52%
College-Educated
95%
High-School Grad
3.9 sq mi
ZIP Area
3,144
Density / Sq Mi
$80,842
Median Household Income
$47,740
Median Earnings
$1,122
Median Rent
$321,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Warehouse - Fenced, gated truck-accessible parking with eight dock doors and a flexible multi-tenant warehouse layout.
Where is this warehouse located?
The property is located at 8325-8339 Nieman Rd Lenexa, KS.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Up to 21,157 SF available within a 24,416 SF warehouse; Eight dock doors for loading and tenant access; Currently set up for six tenants with 1,400–8,326 SF suites
