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    The Largest CRE Database in the US with Over 1 Million Listings

    900 Hayes Dr Manhattan, KS 66502

    Sponsored
    For Lease
    $18 SF/Yr

    Walmart-shadowed office suite available.

    Lot size:
    22,671 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    416
    This exceptional Class A, 2,100 square foot retail/office space is located within the highly visible Skyview Commons retail center, shadow-anchored by a Walmart. The single-story building, constructed in 2004, offers an open-concept layout perfect for a variety of businesses. The suite features a large storefront, a private office with a one-way window, two restrooms, and a finished storage room complete with a floor-mounted mop sink. Two rear doors provide convenient access to employee parking. The property sits on 1.89 acres and boasts 100 parking spaces for ample customer and employee convenience. The center enjoys a strong tenant mix, including Cox Communications, Express Employment, UMI Japanese Steakhouse, Element Nails Lounge, Vape 100, and Massage Manhattan. Its prime Manhattan location benefits from proximity to numerous national retailers such as Hobby Lobby, Staples, Menards, Firestone, Goodyear, and Orschlen Farm, as well as popular restaurants like Freddy's Frozen Custard, IHOP, Dunkin' Donuts, Pizza Hut, and Taco Bell. The property is zoned CC - Retail and features electric and gas power. The total building size is 22,671 square feet, with a minimum divisible space of 2,100 square feet and a maximum contiguous space of 2,100 square feet. This is a truly remarkable opportunity in a thriving retail environment. The cross streets are McCall Rd & Hayes Drive.

    Property Features for 900 Hayes Dr

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    22,671 SF
    Class
    A
    Total Rate
    34006.5

    Building Details

    Year Built
    2004
    Buildings
    1
    Stories
    1

    Unit(s) available at that property

    Space
    Available Space 1
    Size
    2,100 SF
    Rate per SF
    $18

    We can help!

    Listing Contact
    Rob Pestinger
    Rob Pestinger

    Learn more

    Property Insight Report

    HighLights

    • 2,100 SF available in a 22,671 SF Class A retail/office building.
    • Shadow‑anchored by Walmart in a high‑visibility location.
    • Open concept suite with storefront, office, restrooms, and storage.
    • 100 parking spaces.
    • Located near major retailers and restaurants in Manhattan.
    Property Profile Location Intelligence

    Current Use by Public Records

    Cox Store Internet Service Provider Massage Manhattan Massage Therapist CoinFlip Bitcoin ATM Atm Vapor 100 Vaporizer Store UMI Japanese Steakhouse ... Japanese Restaurant

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Manhattan
    County
    Riley
    State
    Kansas
    Longitude
    -96.554697992888
    Latitude
    39.187904047873

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    FAQs

    What type of property is this?
    Office Property / Space - Walmart-shadowed office suite available.
    Where is this office property / space located?
    The property is located at 900 Hayes Dr Manhattan, KS.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: 2,100 SF available in a 22,671 SF Class A retail/office building.; Shadow-anchored by Walmart in a high-visibility location.; Open concept suite with storefront, office, restrooms, and storage.
    Request Owner's contact information
    900 Hayes Dr Manhattan, KS 66502
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    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
    900 Hayes Dr Manhattan, KS 66502
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    We can help!
    Listing Contact
    Rob Pestinger
    Rob Pestinger
    Real Estate License ID: 00046223
    Learn more
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