Two-Story Retail and Office
For Sale
Contact for pricing
9029 Metcalf Ave, Overland Park, KS 66212
Two-floor retail/office building with grade-level space and corner access at a shopping center pad site.
Property Size16,148 SF
Lot Size1.38 Acres
Price / SF$154.82
Days on Market138
Property Features for 9029 Metcalf Ave
General Information
Standard status
Active
Size
16,148 SF
Lot size
1.38 Acres
Property subtype
RETAIL
Additional Details
Road Access
Yes
Building Details
Stories
2
Listing Agency:
Haith and Company, Inc.
(913) 888-3456
Listed By:
David Smart
(913) 219-0052
Source:
Moodyscre
Added: Apr 21
Changed: Aug 19
Last Checked: Jul 21 at 6:59PM
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.
The property is a two-story retail/office building totaling 16,148 SF, with 8,147 SF available at grade. It sits on a 1.38-acre lot and is part of a 60,148 SF pad site.
Located at a corner entrance of Promontory Shopping Center, the building offers 139 feet of Metcalf frontage. Parking is available in a front lot and rear lot, providing 40+ spaces for customers and visitors.
The layout supports both retail and office uses across the two floors, while the grade-level footprint provides convenient street and shopping-center access.
Located at a corner entrance of Promontory Shopping Center, the building offers 139 feet of Metcalf frontage. Parking is available in a front lot and rear lot, providing 40+ spaces for customers and visitors.
The layout supports both retail and office uses across the two floors, while the grade-level footprint provides convenient street and shopping-center access.
Key Highlights
- 16,148 SF two‑floor retail/office building with 8,147 SF at grade level
- 1.38‑acre lot with a 60,148 SF pad site
- 139' of Metcalf frontage at a corner entrance of Promontory Shopping Center
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
$204,736
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
8.19%
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%
$4,094,720
$4.1M
Cap Rate 7%
$2,924,800
$2.9M
Cap Rate 9%
$2,274,844
$2.3M
Market Conditions
NOI Build-Up for 16,148 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
$339.1K $21.00/SF
− Vacancy
−$66.1K −$4.10/SF
EGI
$273.0K $16.90/SF
− OpEx
−$68.2K −$4.23/SF
NOI
$204.7K $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%
$4,094,720
Cap Rate 7%
$2,924,800
Cap Rate 9%
$2,274,844
Alternative Uses
Best Use
Office B
$2.92M
$2.56M – $3.41M
NOI $204,736 @ 7.0% cap · market cap 8.19%
Second Best
Retail
$2.69M
$2.35M – $3.14M
NOI $188,205 @ 7.0% cap · market cap 7.53%
Theoretical Best
Office A
$4.16M
$3.64M – $4.85M
NOI $291,245 @ 7.0% cap · market cap 11.65%
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
666
Businesses Nearby
Explore this area
Business Placement
Demographics for 66212, KS
32,971
Population
15,217
Households
2.2
Avg Household Size
39
Median Age
48%
College-Educated
96%
High-School Grad
7.6 sq mi
ZIP Area
4,338
Density / Sq Mi
$83,294
Median Household Income
$50,321
Median Earnings
$1,244
Median Rent
$283,900
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?
Retail space - Two-floor retail/office building with grade-level space and corner access at a shopping center pad site.
Where is this retail space located?
The property is located at 9029 Metcalf Ave Overland Park, KS.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 16,148 SF two‑floor retail/office building with 8,147 SF at grade level; 1.38‑acre lot with a 60,148 SF pad site; 139' of Metcalf frontage at a corner entrance of Promontory Shopping Center
