Building Details

Year Built 1976

Buildings 1

Listing Agency: J.P. Weigand & Sons Inc.

Listed By: Grant Tidemann · License #KS BR00021991 Show Phone

Source: Crexi

Added: Mar 4, 2024 Changed: Sep 9 Last Checked: Oct 7 at 8:47AM

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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 J.P. Weigand & Sons Inc.

Investment Insights

Based on property information with market context.

An office/warehouse property is available for purchase in Park City. The property includes a large yard area and approximately 513 feet of frontage on 53rd St. North. It offers excellent visibility and access to I-135. The property size is 6,600 square feet.

Key Highlights

• Excellent visibility and access to I‑135
• Large yard area
• Approximately 513' of frontage on 53rd St. North

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$41,089

Cap Rate

3.16%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$821,780 $821.8K

Cap Rate 7%

$586,986 $587.0K

Cap Rate 9%

$456,544 $456.5K

Market Conditions

NOI Build-Up for 6,600 SF

Gross rent

$51.5K $7.80/SF

− Vacancy

−$3.1K −$0.48/SF

EGI

$48.3K $7.32/SF

− OpEx

−$7.3K −$1.10/SF

NOI

$41.1K $6.23/SF

Area

Sedgwick County, KS

Vacancy

6.10%

Lease Rate

$7.80 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$821,780

Cap Rate 7%

$586,986

Cap Rate 9%

$456,544

Alternative Uses

Best Use

Warehouse

$587.0K

$513.6K – $684.8K (±1% cap)

NOI $41,089 @ 7.0% cap · market cap 3.16%

Second Best

Industrial

$483.4K

$423.0K – $564.0K (±1% cap)

NOI $33,838 @ 7.0% cap · market cap 2.60%

Theoretical Best

Office A

$1.38M

$1.20M – $1.60M (±1% cap)

NOI $96,294 @ 7.0% cap · market cap 7.41%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Warehouses

Suggested Use

Top Pick Parking Lot & Garage Pharmacy Building Supply Restaurant HVAC Service Food Market

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

83

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 67204, KS

21,932

Population

9,424

Households

2.3

Avg Household Size

38

Median Age

24%

College-Educated

79%

High-School Grad

16.1 sq mi

ZIP Area

1,362

Density / Sq Mi

$68,549

Median Household Income

$39,258

Median Earnings

$976

Median Rent

$148,900

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this warehouses located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Warehouse - Office/warehouse with large yard and excellent highway access.

Where is this warehouse located?

The property is located at 111 West 53rd St N Park City, KS.

What is the asking price?

The asking price for this property is $1,300,000.

What are key features of this property?

This property features: Excellent visibility and access to I‑135; Large yard area; Approximately 513' of frontage on 53rd St. North