Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    The Largest CRE Database in the US with Over 1 Million Listings

    11815 S Blackbob Rd Olathe, KS

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Retail property with a strong tenant and long-term lease.

    Type:RETAIL
    Property size:
    8,178 SF
    Lot size:
    1.08 Acres
    Price / SF:
    $593/SF
    Added:
    Oct 24, 2024
    Days on Market:
    554
    Last Refresh:
    Apr 5 at 11:14 pm

    Property Features for 11815 S Blackbob Rd

    General Information

    Standard status
    Active
    Size
    8,178 SF
    Lot size
    1.08 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Grant Stewart, CCIM
    Grant Stewart, CCIM

    Listing agent Grant Stewart, CCIM License #140822

    Listing office Wiggin Properties - Tulsa

    Listing date Oct 24, 2024

    Source Moodyscre

    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 Wiggin Properties - Tulsa

    Overview

    Olathe Retail Investment Opportunity

    This retail property is located in the primary retail corridor in Olathe, providing easy access to I-35 and serving the broader Johnson County population. The property benefits from its location surrounded by a variety of national and local retailers, including Whole Foods, Aldi, Natural Grocers, Target, and Home Depot, generating strong daytime and nighttime demand. The property is subject to an absolute net lease with over 8 years remaining. The lease includes CPI rent increases every 5 years with a 12.0% cap.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Big O Tires Auto Repair Shop

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Olathe
    County
    Johnson
    State
    Kansas
    Longitude
    -94.7604
    Latitude
    38.9139

    Nearby Similar for Sale

    • $225,000

      Olathe Multifamily Investment Opportunity

      Fourplex or single-family conversion opportunity near downtown Olathe.
      563 E Park Street, Olathe, KS 66061
      View Details
    • $450,000

      Versatile Office Space in Olathe

      Functional commercial office in downtown Olathe, near local amenities.
      115 E Park Street, Olathe, KS 66061
      View Details
    • $262,500
      1,200 SF

      Charming Olathe Duplex with Sunroom

      Well-maintained Olathe duplex featuring sunroom and covered patio.
      1400 E 123rd Terrace, Olathe, KS 66061
      View Details
    • $275,000

      Olathe Duplex in Great Location

      Easy to rent duplex with updated units in Olathe.
      111 S Annie Street, Olathe, KS 66061
      View Details
    • $221,500
      1,205 SF

      Olathe Duplex Investment Opportunity

      Full duplex near schools, currently rented, ideal for investors.
      1508 E Sheridan Street, Olathe, KS 66062
      View Details
    • $221,500
      1,205 SF

      Olathe Duplex Investment Opportunity

      Full duplex for sale, both units currently rented.
      1510 E Sheridan Street, Olathe, KS 66062
      View Details
    • $210,000
      1,218 SF

      Inviting Split-Level Home with Updates

      Comfortable home featuring 3 bedrooms, updated flooring, and fenced backyard.
      15052 W 139 Street, Olathe, KS 66062
      View Details
    • $245,000
      1,266 SF

      Olathe Duplex with New Systems

      Well-maintained duplex with new HVAC and energy-efficient windows.
      1610 E Cedar Place, Olathe, KS 66062
      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
    • $264,900
      1,100 SF

      Renovated Duplex in Quiet Cul-de-Sac

      Renovated Olathe duplex with upgraded features and fenced backyard.
      722 S Central Street, Olathe, KS 66061
      View Details
    • $275,000
      2,175 SF

      Updated Duplex in Olathe, Kansas

      Spacious duplex with updates, ideal for investment, new flooring.
      1523 E 123RD Terrace, Olathe, KS 66061
      View Details
    • $255,000
      1,249 SF

      Olathe Duplex with Highway Access

      Duplex in Olathe, close to schools, highway, and shopping.
      1019 N JAN MAR Street, Olathe, KS 66061
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail property with a strong tenant and long-term lease.
    Where is this retail space located?
    The property is located at 11815 S Blackbob Rd Olathe, KS.
    What is the asking price?
    The asking price for this property is $4,850,000.
    What are key features of this property?
    This property features: Long Term Absolute Net Lease (8+ years remaining) provides stable, passive income.; CPI Rent increases every 5 years with a 12.0% Cap protects against inflation and ensures income growth.; Prime Retail Corridor Location in Olathe with easy access to I‑35.
    (918) 645-7679 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Grant Stewart, CCIM
    Grant Stewart, CCIM
    Real Estate License ID: 140822
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!