Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    24701 Prairie Star Pkwy Lenexa, KS 66227

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    4 acres of commercial land near Panasonic development.

    Lot size:
    2.00 Acres

    Property Features for 24701 Prairie Star Pkwy

    General Information

    Lot size
    2.00 Acres

    We can help!

    Listing Contact
    Coleby Henzlik
    Coleby Henzlik
    Source: Moodyscre

    Listing Agent: Coleby Henzlik

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Available Land Near New Development

    Available are 4 acres divided into two parcels of approximately 2 acres each; the seller is willing to divide as needed. This commercial land is the only available parcel in the immediate area. Part of the Mize Hill residential development by Lambie, the property is adjacent to St. James Academy, a private Catholic school with over 900 students. Located near the new Panasonic Development, a 300-acre electric vehicle battery manufacturing facility is scheduled to open in Spring 2025. The $4 billion advance battery production facility is expected to be fully operational in Q3 2025 and is estimated to bring over 20,000 jobs to the area. District enrollment numbers are expected to increase by over 550 students by 2027 in this growing community. The property is in proximity to several recent developments.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Dental Office Gym & Fitness Hotel & Motel Pharmacy Skin Care Clinic HVAC Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Lenexa
    County
    Johnson
    State
    Kansas
    Longitude
    -94.8696796
    Latitude
    38.9575082

    Nearby Similar for Sale

    • $415,000
      0.53 Acres

      Lenexa Commercial Space with Potential

      Commercial space in Lenexa, zoned CP1, with business and residential potential.
      10200 Pflumm Rd, Lenexa, KS 66215
      View Details
    • $515,000
      2,125 SF

      New Construction Twin Villas Duplex

      New construction duplex villas with lawn service included in HOA.
      9852 W Greeley St, Lenexa, KS 66227
      View Details
    • $515,000
      2,125 SF

      New Construction Twin Villas Duplex

      New construction duplex in Lenexa, est. completion May 2026.
      9854 W Greeley St, Lenexa, KS 66227
      View Details
    • $360,000
      2,453 SF

      Remodeled Duplex in Lenexa, Kansas

      Completely remodeled duplex with a two-car garage in Lenexa.
      12521 W 85 Ter, Lenexa, KS 66215
      View Details
    • $515,000
      Pending

      Lenexa Duplex For Sale

      Duplex property in Lenexa, Kansas, estimated to close 6/2026.
      9862 W Greeley St, Lenexa, KS 66227
      View Details
    • $490,000
      Pending

      Lenexa Duplex For Sale

      Duplex property in Lenexa, Kansas, sold before processing.
      24111 W 95Th Ln, Lenexa, KS 66227
      View Details
    • $490,000
      Pending

      Lenexa Duplex For Sale

      Duplex located in Lenexa, Kansas with 2,143 square feet.
      24109 W 95Th Ln, Lenexa, KS 66227
      View Details
    • $11,500,000
      129,700 SF

      Lenexa Warehouse with Trailer Parking

      129,700 SF warehouse on 11.54 acres with ample parking.
      7910 Hedge Lane Ter, Lenexa, KS 66227
      View Details
    • $1,950,000
      13,754 SF

      Lenexa Industrial Building with Expansion

      13,754 SF industrial building on 2.31 acres.
      14144 Santa Fe Trail Dr, Lenexa, KS 66215
      View Details
    • $1,250,000
      8,000 SF

      Single Story Office/Flex Space

      8,000 SF single-story office/flex space with dock and parking.
      14563 W 96Th Ter, Lenexa, KS 66215
      View Details
    • $7,090,930
      46,045 SF

      Lenexa Office Building For Sale

      46,045 RSF office building in Johnson County.
      10310 W 84 Ter, Lenexa, KS
      View Details
    • Contact for pricing
      59,638 SF

      Lenexa Flex Space Available

      Flex space with drive-in loading, immediate highway access.
      8200-8248 Marshall Dr, Lenexa, KS 66214
      View Details

    FAQs

    What type of property is this?
    Land - 4 acres of commercial land near Panasonic development.
    Where is this land located?
    The property is located at 24701 Prairie Star Pkwy Lenexa, KS.
    What are key features of this property?
    This property features: - Prime commercial land opportunity near the new $4 Billion Panasonic Development, expected to bring over 20,000 jobs.; - The only available commercial land in the immediate area.; - Adjacent to St. James Academy, a private catholic school with 900+ students.
    (404) 797-3475
    Request Owner's contact information
    24701 Prairie Star Pkwy Lenexa, KS 66227
    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.
    24701 Prairie Star Pkwy
    Lenexa, KS 66227
    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
    24701 Prairie Star Pkwy Lenexa, KS 66227
    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

    We can help!
    Listing Contact
    Coleby Henzlik
    Coleby Henzlik
    (404) 797-3475
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.