Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Olathe Land Development Opportunity Title is generated by Realmo AI

    No Address W 119th Street, Olathe, KS 66061

    View on Map
    Claim this Listing
    For Sale
    $850,000

    LAND - Olathe, KS

    Lot size:
    4.87 Acres
    Added:
    Apr 14, 2026
    Days on Market:
    50
    Last Refresh:
    Jun 2 at 6:06 pm

    Property Features for No Address W 119th Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    6P54500000-0003
    Lot size
    4.87 Acres

    Taxes and HOA fees

    Tax Description
    RUFENACHT'S FARMS LT 3 EX MINERAL RIGHTS OL 145 5 3
    Tax Annual Amount
    650

    We can help!

    Listing Contact
    Chandra Weekley

    Listing agent Chandra Weekley

    Listing office ReeceNichols - Lees Summit 222 SW Main St., Lee's Summit, KS

    Listing date Apr 14, 2026

    MLS# 2614122 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

    • 4.9 acre land parcel suitable for development.
    • Prime location West of Ranch Villas of Greyson Place and Milbrooke Elementary School.
    • Potential for low‑density single‑family home development (subject to city approval).
    • Proximity to schools, shopping centers, and recreational facilities.
    • Easy access to major transportation routes.
    • Opportunity to purchase adjacent parcel (MLS #2614121) for expanded development.

    Overview

    This 4.9-acre parcel of land presents an opportunity for developers or investors. Located west of Ranch Villas of Greyson Place and Milbrooke Elementary School, the property benefits from its proximity to schools, shopping centers, and recreational facilities. Major transportation routes provide connectivity to neighboring towns and cities. According to the City of Olathe Planning Department, the property has potential for a low-density single-family home development, with the possibility to petition for zoning changes. This parcel is being sold in conjunction with MLS # 2614121, offering the opportunity to purchase both properties and expand development plans.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Olathe
    County
    Johnson
    State
    Kansas
    Longitude
    -94.794664
    Latitude
    38.912639

    Nearby Similar for Sale

    • $1,200,000

      Olathe Commercial Development Opportunity

      Prime 2.52-acre commercial land in Olathe, Kansas.
      129th & Somerset Terrace, Olathe, KS 66062
      View Details
    • $1,200,000

      Olathe Mixed-Use Development Opportunity

      9-acre mixed-use property in a prime Olathe location.
      C 151st Street, Olathe, KS 66062
      View Details
    • $229,000
      1,420 SF

      Olathe Duplex with Recent Upgrades

      Move-in ready duplex in Olathe with numerous recent renovations.
      1102 W Sheridan Street, Olathe, KS 66061
      View Details
    • $3,000,000

      Olathe Mixed-Use Development Opportunity

      9-acre mixed-use property near 151st and Mur Len Road.
      151 st, Olathe, KS 66062
      View Details
    • $220,000
      1,012 SF

      Updated Duplex in Olathe, Kansas

      Stylishly updated duplex with modern amenities and convenient location.
      124 N Saxony Drive, Olathe, KS 66061
      View Details
    • $1,900,000
      969 SF

      397 S Parker Olathe KS

      High-visibility corner gas station with convenience store in Olathe, Kansas.
      397 S Parker St, Olathe, KS 66062
      View Details
    • $242,000
      1,377 SF

      Updated Duplex in Olathe

      Move-in ready duplex with updated features and convenient location.
      1225 E Cothrell Street, Olathe, KS 66061
      View Details
    • $200,000

      Olathe Multifamily Investment Opportunity

      Fourplex or single-family conversion near downtown Olathe.
      563 E Park Street, Olathe, KS 66061
      View Details
    • $500,000

      Olathe Land Near Olathe Lake

      7+ acre land parcel near Olathe Lake.
      25390 W 143rd Street, Olathe, KS 66061
      View Details
    • $235,000
      1,109 SF

      Olathe Duplex with Recent Updates

      Move-in ready duplex featuring new paint, carpet, and updated bathroom.
      515 S Cardinal Drive, Olathe, KS 66062
      View Details
    • $240,000
      1,040 SF

      Updated Duplex in Olathe, KS

      Updated duplex in a prime location with modern features.
      15914 W 123rd Street, Olathe, KS 66062
      View Details
    • $125,000

      Corner Lot in Olathe, KS

      0.24-acre corner lot in Lakeshore Meadows, no HOA!
      25251 W 141st Terrace, Olathe, KS 66061
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 4.9 acres of land ideal for development or investment.
    Where is this residential land & home lot located?
    The property is located at No Address W 119th Street Olathe, KS.
    What is the asking price?
    The asking price for this property is $850,000.
    What are key features of this property?
    This property features: 4.9 acre land parcel suitable for development.; Prime location West of Ranch Villas of Greyson Place and Milbrooke Elementary School.; Potential for low‑density single‑family home development (subject to city approval).
    (913) 731-6340
    We can help!
    Listing Contact
    Chandra Weekley
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    No Address W 119th Street, Olathe, KS 66061
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!