Park City Office/Warehouse For
For Sale
Contact for pricing
111 West 53rd St N, Park City, KS 67204
Office/warehouse with large yard and excellent highway access.
Property Size6,600 SF
Price / SF$196.97
Days on Market900
Property Features for 111 West 53rd St N
General Information
Standard status
Active
Size
6,600 SF
Property subtype
Industrial
Zoning
I-1
Building Details
Year Built
1976
Buildings
1
Listing Agency:
J.P. Weigand & Sons Inc.
(316) 262-6400
Listed By:
Grant Tidemann · License #KS BR00021991
Source:
Crexi
Added: Mar 4, 2024
Changed: Aug 8
Last Checked: Aug 20 at 9:37PM
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 = 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
$41,089
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
3.16%
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%
$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
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
$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 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%
$821,780
Cap Rate 7%
$586,986
Cap Rate 9%
$456,544
Alternative Uses
Best Use
Warehouse
$587.0K
$513.6K – $684.8K
NOI $41,089 @ 7.0% cap · market cap 3.16%
Second Best
Industrial
$483.4K
$423.0K – $564.0K
NOI $33,838 @ 7.0% cap · market cap 2.60%
Theoretical Best
Office A
$1.38M
$1.20M – $1.60M
NOI $96,294 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
