Industrial Warehouse with Heavy
For Sale
$1,500,000
8900 Green Valley Dr, Manhattan, KS 66503
Industrial warehouse with dedicated offices, a bathroom, and 440-volt three-phase power.
Property Size21,875 SF
Lot Size1.65 Acres
Price / SF$68.57
Days on Market12
Property Features for 8900 Green Valley Dr
General Information
Standard status
Active
Size
21,875 SF
Lot size
1.65 Acres
Warehouse & Industrial
Voltage
440 V
Three-Phase Power
Yes
Additional Details
Road Access
Yes
Building Details
Year Built
2002
Buildings
1
Building Size
21,875 SF
Listing Agency:
Alliance Realty
(303) 748-2217
Listed By:
Angela Durtschi · License #SP00241638
Source:
Stoneandstory
Added: Aug 20
Changed: Aug 29
Last Checked: Aug 30 at 7:42PM
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 Alliance Realty
Investment Insights
Based on property information with market context.
Built in 2002, this 21,875-square-foot warehouse occupies 1.65 acres and offers a durable industrial configuration. The building measures 175 feet by 125 feet and includes an 8-inch concrete floor designed to support substantial equipment and operational demands. Dedicated office space and a bathroom are incorporated into the facility for administrative and employee functions.
The property is located at 8900 Green Valley Dr in Manhattan, Kansas, off Green Valley Rd. Electrical service includes 440 volts of three-phase power, supporting manufacturing, machinery, and storage operations that require higher-capacity service.
The property is located at 8900 Green Valley Dr in Manhattan, Kansas, off Green Valley Rd. Electrical service includes 440 volts of three-phase power, supporting manufacturing, machinery, and storage operations that require higher-capacity service.
Key Highlights
- 21,875‑square‑foot warehouse on 1.65 acres
- 175‑foot by 125‑foot building footprint
- 8‑inch thick concrete floor
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
$106,608
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
7.11%
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%
$2,132,160
$2.1M
Cap Rate 7%
$1,522,971
$1.5M
Cap Rate 9%
$1,184,533
$1.2M
Market Conditions
NOI Build-Up for 21,875 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
$131.5K $6.01/SF
− Vacancy
−$6.0K −$0.28/SF
EGI
$125.4K $5.73/SF
− OpEx
−$18.8K −$0.86/SF
NOI
$106.6K $4.87/SF
Area
Riley County, KS
Vacancy
4.60%
Lease Rate
$6.01 /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%
$2,132,160
Cap Rate 7%
$1,522,971
Cap Rate 9%
$1,184,533
Alternative Uses
Best Use
Warehouse
$1.52M
$1.33M – $1.78M
NOI $106,608 @ 7.0% cap · market cap 7.11%
Second Best
Industrial
$1.25M
$1.10M – $1.46M
NOI $87,795 @ 7.0% cap · market cap 5.85%
Theoretical Best
Office A
$5.01M
$4.38M – $5.84M
NOI $350,419 @ 7.0% cap · market cap 23.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
159
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 66503, KS
16,565
Population
7,855
Households
2.1
Avg Household Size
36
Median Age
61%
College-Educated
98%
High-School Grad
83.2 sq mi
ZIP Area
199
Density / Sq Mi
$96,000
Median Household Income
$51,647
Median Earnings
$1,215
Median Rent
$325,400
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- MKC — 3384 Excel Rd, Manhattan, KS 66502
- Leisure Self Storage — 8405 US-24, Manhattan, KS 66502
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial warehouse with dedicated offices, a bathroom, and 440-volt three-phase power.
Where is this warehouse located?
The property is located at 8900 Green Valley Dr Manhattan, KS.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 21,875‑square‑foot warehouse on 1.65 acres; 175‑foot by 125‑foot building footprint; 8‑inch thick concrete floor
