414 E. Industrial Rd 4,800 SF 100% Leased Industrial Building Goddard, KS 67052 $685,000 ($142.71/SF) 7.58% Cap Rate

Offered for sale is a fully renovated light industrial / flex property located at 414 E Industrial St in Goddard, Kansas, serving the greater Wichita metro area. The property consists of a 4,800 square foot building divided into two 2,400 square foot suites, situated on a large, flat, secured site within an established industrial park designed for full tractor-trailer circulation.
The building has undergone a comprehensive renovation and is fully HVAC’ed throughout. Improvements include upgraded electrical systems and panels, modern interior and exterior lighting, renovated office areas and bathrooms, insulated construction, security cameras, perimeter lighting, and electronic gated site access. The property also features three-phase power and full semi-truck access, supporting a wide range of light industrial and flex uses.
The asset is currently 100% leased under a modified gross lease structure through December 31, 2026, providing income in place today. The existing leases include a clearly defined transition to a stabilized triple net (NNN) structure at renewal, with renewal leases executed prior to sale. Under the NNN structure, tenants will be responsible for their proportionate share of property taxes, insurance, and operating expenses, subject to annual reconciliation. Contractual annual rent escalations provide predictable income growth over the renewal term. Pro forma stabilized NOI under the NNN structure is approximately $51,900.
Located within a low-disruption industrial park, the property offers operational advantages over many older urban industrial assets where access, circulation, and security are often constrained. The site includes fully serviced industrial land with utilities, access, and zoning in place, as well as a substantial rear yard.
Ownership has met directly with the City, and the site has been confirmed as compatible with additional light industrial or flex space development, with no zoning conflicts identified. Future development scope and timing may be determined by the buyer based on use and strategy and is not required to support the current valuation.
The property is offered directly by ownership and is not currently listed with a brokerage. It is well suited for investors seeking income in place with a defined path to stabilized NNN, owner-users, or hybrid buyers seeking high-quality industrial space with long-term flexibility.