Shell Gas Station and
For Sale
Contact for pricing
9640 Nall Ave, Overland Park, KS 66207
Single-tenant occupancy is paired with an absolute NNN lease structure.
Property Size4,406 SF
Price / SF$340.44
Days on Market167
Property Features for 9640 Nall Ave
General Information
Standard status
Active
Size
4,406 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$90,803
Building Details
Year Built
1986
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Marcus & Millichap - Denver
Listed By:
Drew Isaac · License #CO FA.100023779
Source:
Crexi
Added: Mar 18
Changed: Aug 30
Last Checked: Aug 30 at 9:26PM
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 Marcus & Millichap - Denver
Investment Insights
Based on property information with market context.
This Shell fuel and convenience-store property is configured for a single tenant under an absolute NNN lease structure. The property size is reported as 4,406, and the building dates to 1986.
The property is located at 9640 Nall Ave in Overland Park, Kansas 66207. Its use as a fuel station and convenience store provides a defined commercial property profile within the automotive and retail categories.
The property is located at 9640 Nall Ave in Overland Park, Kansas 66207. Its use as a fuel station and convenience store provides a defined commercial property profile within the automotive and retail categories.
Key Highlights
- Shell fuel and convenience‑store property
- Single‑tenant occupancy
- Absolute NNN lease structure
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
$59,640
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
3.98%
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%
$1,192,800
$1.2M
Cap Rate 7%
$852,000
$852.0K
Cap Rate 9%
$662,667
$662.7K
Market Conditions
NOI Build-Up for 4,406 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
$84.6K $19.20/SF
− Vacancy
−$5.1K −$1.15/SF
EGI
$79.5K $18.05/SF
− OpEx
−$19.9K −$4.51/SF
NOI
$59.6K $13.54/SF
Area
Overland Park, KS
Vacancy
6.00%
Lease Rate
$19.20 /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%
$1,192,800
Cap Rate 7%
$852,000
Cap Rate 9%
$662,667
Alternative Uses
Best Use
Specialty Retail
$852.0K
$745.5K – $994.0K
NOI $59,640 @ 7.0% cap · market cap 3.98%
Second Best
Retail
$733.6K
$641.9K – $855.9K
NOI $51,352 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$1.14M
$993.3K – $1.32M
NOI $79,467 @ 7.0% cap · market cap 5.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
607
Businesses Nearby
81k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 29%
Shops & Services 28%
Groceries 24%
Dining 19%
Savers Thrift Store
Apparel
23,317 visits/mo
0.3 miles
Sprouts Farmers Market
Groceries
19,544 visits/mo
0.1 miles
Half Price Books
Shops & Services
10,414 visits/mo
0.1 miles
The Big Biscuit
Dining
6,375 visits/mo
0.3 miles
Shell
Shops & Services
5,636 visits/mo
0.1 miles
Demographics for 66207, KS
14,519
Population
6,455
Households
2.2
Avg Household Size
43
Median Age
70%
College-Educated
99%
High-School Grad
4.6 sq mi
ZIP Area
3,156
Density / Sq Mi
$121,381
Median Household Income
$63,345
Median Earnings
$1,880
Median Rent
$400,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Gas station - Single-tenant occupancy is paired with an absolute NNN lease structure.
Where is this gas station located?
The property is located at 9640 Nall Ave Overland Park, 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: Shell fuel and convenience‑store property; Single‑tenant occupancy; Absolute NNN lease structure
