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

    21555 W 112th Terrace Olathe, KS

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

    Commercial land with tax abatement and highway access in Olathe.

    Type:LAND
    Lot size:
    1.66 Acres
    Added:
    Dec 27, 2023
    Days on Market:
    849
    Last Refresh:
    Apr 5 at 11:11 pm

    Property Features for 21555 W 112th Terrace

    General Information

    Standard status
    Active
    Lot size
    1.66 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Keith Baker

    Listing agent Keith Baker

    Listing office CBRE | Kansas City

    Listing date Dec 27, 2023

    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 CBRE | Kansas City

    Overview

    Olathe Commercial Land for Sale

    This commercial land benefits from a 55% tax abatement for new office construction and sales tax exemption on building materials. Excise taxes are pre-paid. The location benefits from the established Sunnybrook Shopping Center and advantageous proximity to multiple highways. All utilities are available on site. The surrounding area has a solid demographic base, with over 116,000 residents within a 5-mile radius and a median income exceeding $111,000 in the immediate area. There are 17 schools, from pre-kindergarten to 12th grade, located within 3 miles of the property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    New Horizon Academy Daycare Center

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Olathe
    County
    Johnson
    State
    Kansas
    Longitude
    -94.8353
    Latitude
    38.9238

    Nearby Similar for Sale

    • $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
    • $250,000

      Olathe Multifamily Investment Opportunity

      Fourplex near downtown Olathe with conversion potential.
      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
    • $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
    • $500,000

      Olathe Land Near Olathe Lake

      7+ acre land parcel near Olathe Lake.
      25390 W 143rd Street, Olathe, KS 66061
      View Details
    • $850,000

      Olathe Land Development Opportunity

      4.9 acres of land ideal for development or investment.
      No Address W 119th Street, Olathe, KS 66061
      View Details
    • $850,000

      Olathe Land Development Opportunity

      4.9 acres of land ideal for development or investment.
      22640 W 119th Street, Olathe, KS 66061
      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
    • $295,000

      Residential Land in Upscale Neighborhood

      Vacant lot in Olathe's prestigious Timberstone Ridge neighborhood.
      11819 S Kenton Street, Olathe, KS 66061
      View Details
    • $450,000

      Olathe Land: Build Your Dream

      10-acre homesite in De Soto School District, no HOA.
      W 115th Street, Olathe, KS 66061
      View Details
    • $649,950

      Olathe Commercial Land Opportunity

      Commercial land approved for retail shopping center with drive-through dining.
      25020 W 143rd Street, Olathe, KS 66061
      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

    FAQs

    What type of property is this?
    Commercial land - Commercial land with tax abatement and highway access in Olathe.
    Where is this commercial land located?
    The property is located at 21555 W 112th Terrace Olathe, KS.
    What is the asking price?
    The asking price for this property is $975,000.
    What are key features of this property?
    This property features: 55% Tax Abatement for New Office Construction; Prominent Location and Accessibility; Solid Demographic Base: over 116,000 residents within 5 miles
    (816) 756-3535 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Keith Baker
    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!