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    Updated Lenexa Townhome with Garage Title is generated by Realmo AI

    12521 W 85th Terrace, Lenexa, KS 66215

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    Pending
    $350,000

    DUPLEX - Other - Lenexa, KS

    Type:Townhouse
    Property size:
    2,453 SF
    Lot size:
    0.05 Acres
    Added:
    Feb 28, 2026
    Days on Market:
    96
    Last Refresh:
    Jun 4 at 8:06 am

    Property Features for 12521 W 85th Terrace

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Townhouse
    Bedrooms
    4
    Bathrooms
    3
    Rooms
    Basement, Bedroom 4, Bathroom 1, Dining Room, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 3, Bathroom 3, Family Room
    Parking features
    Garage
    Patio and Porch features
    Deck
    Interior features
    Ceiling Fan(s), Pantry, Vaulted Ceiling(s), Walk-In Closet(s), Wet Bar
    Fireplace
    1
    Basement
    Finished, Full
    Appliances
    Cooktop, Dishwasher, Disposal, Microwave, Built-In Oven, Electric Range, Stainless Steel Appliance(s)
    Standard status
    Pending
    APN
    IP64200004-040H2
    Size
    2,453 SF
    Lot size
    0.05 Acres

    Taxes and HOA fees

    Tax Description
    REPLAT OF COLCHESTER COURT CERTIFICATE OF SURVEY LT 4 BLK4 AS REC IN BK 1860 P565 HOME 2 LEC 38 4 4 4 H2
    Tax Annual Amount
    3813

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Cooling system
    Electric
    Water source
    Public

    Building Details

    Year built
    1983
    Flooring type
    Carpet, Vinyl
    Building materials
    Brick Veneer, Stucco & Frame
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Bryan Huff
    Bryan Huff

    Listing agent Bryan Huff License #SP00228927

    Listing office Keller Williams Realty Partners Inc. 6850 College Blvd., Overland Park, KS

    Listing date Feb 28, 2026

    MLS# 2604351 Listing URL

    Copyright © 2026 Heartland Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Maintenance‑provided townhome in a convenient Lenexa location near parks, shopping, dining, and highways.
    • Finished lower level with family room, wet bar, fourth bedroom, and third full bath, ideal for guests or multi‑generational living.
    • Updated kitchen with stainless steel appliances seamlessly connected to the dining area and deck.
    • Vaulted Great Room with a stunning floor‑to‑ceiling rounded brick fireplace.
    • Spacious Primary Suite with private en‑suite bath and walk‑in closet.
    • Two‑car garage.

    Overview

    This updated townhome is located in Lenexa. The property features a 2-car garage. The home includes a vaulted great room with a floor-to-ceiling rounded brick fireplace. The kitchen features stainless steel appliances, including a cooktop, built-in oven and microwave, and dishwasher, and is connected to the dining area. Sliding glass doors lead to the deck. The primary suite includes a private en-suite bath with a double vanity, separate tub and shower, and walk-in closet. There are two additional bedrooms and a second full bath on the main level. The finished lower level expands the living space with soaring ceilings, a family room with a second fireplace, wet bar, fourth bedroom, and third full bath. The property is located close to parks, shopping, dining and offers easy highway access. The lot size is 0.0496 acres and the property size is 2453 square feet.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $46.5k $18.96
    − Vacancy −$1.7k −$0.68
    EGI $44.8k $18.28
    − OpEx −$20.2k −$8.22
    NOI $24.7k $10.05
    2,453 SF · lease $18.96/SF/yr · vacancy 3.60% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $352.3K
    $308.2K – $411.0K (±1% cap)
    NOI $24,659 @ 7.0% cap · market cap 7.05%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $593.7K
    $519.5K – $692.6K (±1% cap)
    NOI $41,557 @ 7.0% cap · market cap 11.87%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Hotel & Motel Pharmacy Department Store Discount Store Electronics & Wireless Store Grocery & Convenience Store Travel Agency Pet Grooming Service Mobile Phone Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lenexa
    County
    Johnson
    State
    Kansas
    Longitude
    -94.73154329
    Latitude
    38.97378729

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    FAQs

    What type of property is this?
    Single family property - Updated townhome in Lenexa with modern comfort and convenience.
    Where is this single family property located?
    The property is located at 12521 W 85th Terrace Lenexa, KS.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: Maintenance‑provided townhome in a convenient Lenexa location near parks, shopping, dining, and highways.; Finished lower level with family room, wet bar, fourth bedroom, and third full bath, ideal for guests or multi‑generational living.; Updated kitchen with stainless steel appliances seamlessly connected to the dining area and deck.
    (913) 907-0760
    We can help!
    Listing Contact
    Bryan Huff
    Bryan Huff
    Real Estate License ID: SP00228927
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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