Industrial / Flex Property for Sale in Goddard, Kansas
4,800 SF industrial building on fully serviced land, 100% leased today, with a clearly defined transition to a stabilized triple net (NNN) lease structure at renewal, plus City-confirmed potential for additional light industrial or flex space development.
The Asset at a Glance
This offering combines three independent sources of value in a single industrial property.
Existing 4,800 SF red iron industrial building
Fully insulated and fully HVAC’ed
Three-phase electrical service
Three restrooms
100% leased with a clear path from modified gross to stabilized NNN at renewal
Fully serviced land with utilities, access, and industrial zoning in place
Rear parcel suitable for additional light industrial or flex space development, confirmed with the City
Buyers are not underwriting a single outcome. They are acquiring a developed industrial site with multiple paths forward.
Replacement Cost vs. Today’s Pricing
The existing building is not a shell. It is a fully improved flex space facility.
Red iron construction
Fully insulated walls and roof
Three-phase electrical service
Three restrooms
Full HVAC throughout
Finished interior suitable for immediate use
Based on current construction pricing in the Wichita metro, rebuilding a comparable facility today would conservatively cost $700,000 to $800,000 or more, excluding land.
The current offering includes both the existing building and the land, providing built-in downside protection against construction cost inflation.
Land Value and Site Fundamentals
The site is fully serviced, with utilities, access, and zoning already in place.
County land assessments reflect contributory value for taxation within an improved parcel. They are not intended to represent market pricing for vacant, buildable industrial land.
In practice, fully serviced, shovel-ready land commands materially higher market value due to the time, capital, and uncertainty already removed.
This property delivers land that is ready to perform.
Income In Place Today, Stabilized NNN at Renewal
The property is currently 100% leased under a modified gross lease structure through December 31, 2026, providing immediate income while keeping tenant utility responsibility in place. Under the current structure, tenants pay their own utilities and insurance, while ownership covers property taxes, building insurance, common area maintenance, and trash.
The leases have a clearly defined transition to a stabilized triple net (NNN) structure beginning January 1, 2027, with renewal leases executed prior to sale. Under the NNN structure, tenants are responsible for their proportionate share of property taxes, insurance, and operating expenses, with estimated NNN expenses currently projected at approximately $0.27 per SF per month (subject to annual reconciliation).
Priced With Underwriting and Replacement Cost in Mind
The property is offered at $685,000, reflecting its fully improved condition, income in place today, defined transition to a stabilized triple net (NNN) lease structure at renewal, and positioning within the Goddard industrial submarket.
The pricing is further supported by current replacement cost considerations. Rebuilding a comparable, fully improved industrial facility today would conservatively exceed the offering price, excluding land.
Conventional lenders typically underwrite stabilized industrial assets to a 1.20 debt service coverage ratio (DSCR). Under standard market assumptions and upon transition to NNN at renewal, the property aligns with this underwriting framework.
City review confirmed the site’s compatibility with additional industrial or flex development, with no zoning conflicts identified.
Shovel-Ready Expansion
In addition to the existing building, the property includes a fully serviced rear parcel suitable for additional light industrial or flex space development.
Ownership has met directly with the City, and the site has been confirmed as compatible with additional development. There are no zoning conflicts, and utilities and access are already in place.
This creates the ability to expand or add future square footage. Scope, timing, and configuration can be determined by the buyer based on use, market conditions, and strategy.
Multiple Exit Paths, One Asset
This property supports a range of buyer profiles and exit strategies.
Owner-user with immediate occupancy and room to grow
Investor seeking stabilized income with future flexibility
Hybrid buyer combining occupancy and leasing
Long-term hold with optional future development
Future redevelopment or partial disposition
All exit paths are supported by existing zoning, infrastructure, and City confirmation. Future development potential is not required to justify the current valuation.
Located in Goddard, Kansas, the property serves the greater Wichita industrial market, including Derby, Andover, and Valley Center.
Situated within an established industrial park designed for modern operations, the site offers full tractor-trailer access with no circulation or clearance constraints, providing a meaningful operational advantage for businesses requiring efficient logistics.
This location supports light industrial, flex, and commercial users seeking functionality and reliability beyond what is typically found in older urban industrial buildings.
Frequently Asked Questions
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The property is currently 100% leased under a modified gross structure, which is common for existing industrial tenants. The leases include a clearly defined transition to a stabilized triple net (NNN) structure at renewal. Renewal leases will be executed prior to sale, allowing buyers to step into a stabilized NNN profile without re-negotiation risk.
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Fully serviced land means utilities, access, and industrial zoning are already in place. Electric, water, sewer, and road access are available at the site, eliminating the need for infrastructure extensions or entitlement work prior to development.
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County land assessments reflect contributory value for taxation within an improved parcel. They are not intended to represent market pricing for vacant, buildable industrial land. Market participants typically value fully serviced, shovel-ready industrial land based on current market conditions rather than assessed figures.
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The existing building is a fully improved industrial/flex facility. Based on current construction pricing, rebuilding a comparable structure today would materially exceed the offering price, excluding land. This provides built-in downside protection against construction cost inflation.
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No. The purchase price is supported by income in place today, replacement cost considerations, and the underlying value of a fully serviced industrial site. Future development potential exists as optional flexibility, not as a requirement for the investment thesis.
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Yes. Ownership has met directly with the City, and the site has been confirmed as compatible with additional light industrial or flex space development. There are no zoning conflicts, and utilities and access are already in place.
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The property is well suited for a range of buyers, including owner-users, investors seeking stabilized income, hybrid buyers combining occupancy and leasing, and long-term holders seeking optional future expansion without entitlement risk.
Preferred Lender (Optional Resource)
For buyers seeking local financing support, Simmons Bank has reviewed the property and is familiar with the asset, lease structure, and underlying fundamentals.
Buyers are free to work with the lender of their choice. This reference is provided as a convenience only.
Alex Penny
Business Banker
NMLS #1535836
Simmons Bank
701 E Douglas Ave.
Wichita, KS 67202
D: 316.315.0667
C: 918.509.9298
F: 316.670.5139
alex.penny@simmonsbank.com
www.simmonsbank.com
Let’s Talk.
This property is being offered directly by ownership, off-market and without a brokerage intermediary. If you’re exploring a purchase, we’re happy to share additional details.
If it feels like a fit, reach out and let’s have a straightforward conversation about whether this property makes sense for what you’re building next.