Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Residential Lot in Leawood, KS Title is generated by Realmo AI

    5448 W 128TH. Terrace, Leawood, KS 66209

    View on Map
    Claim this Listing
    For Sale
    $350,000

    LAND - Leawood, KS

    Lot size:
    0.34 Acres
    Added:
    May 8, 2026
    Days on Market:
    14
    Last Refresh:
    May 21 at 2:06 pm

    Property Features for 5448 W 128TH. Terrace

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R46898
    Standard status
    Active
    APN
    HP19200000 0132
    Lot size
    0.34 Acres

    Taxes and HOA fees

    Tax Description
    HIGHLANDS OF LEAWOOD 2ND PLAT LT 132 EX BG MOST ELY CR SWLY TO PT 55' SWLY NELY CR LT 130 NWLY NLY NELY CUR RT TO PT NE/L LT 132 SELY TO POB LWC 511 132
    Tax Annual Amount
    1826

    Utilities

    Water source
    Public

    We can help!

    Listing Contact
    Krishna Chinnam
    Krishna Chinnam

    Listing agent Krishna Chinnam License #00245999

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

    Listing date May 8, 2026

    MLS# 2619241 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

    • Prime Leawood Location: Situated in a highly desirable, established, and upscale Leawood neighborhood.
    • Ready‑to‑Build Lot: Level homesite with utilities available at the street, offering a seamless building process.
    • Award‑Winning Blue Valley Schools: Benefit from access to top‑rated education.
    • No HOA Restrictions: Freedom to design a truly custom residence without HOA limitations.
    • Convenient Access: Close proximity to premier shopping, dining, and major highways.
    • Tranquil Setting: Surrounded by mature trees on a quiet, tree‑lined street.

    Overview

    Located in Leawood, Kansas, this residential lot offers a setting for building a custom home. The level homesite is situated in an established neighborhood with mature trees and custom homes. The location provides a tranquil atmosphere and is close to schools, shopping, dining, and highway access. Located on a quiet, tree-lined street with no HOA restrictions, the lot allows for a custom residence design. Utilities are available at the street, making this a ready-to-build opportunity in Johnson County. The lot size is 0.34 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Leawood
    County
    Johnson
    State
    Kansas
    Longitude
    -94.6488
    Latitude
    38.895035

    Nearby Similar for Sale

    • $2,495,000

      Leawood Estate Homesite Opportunity

      3.6+/- acre homesite in Old Leawood backing to water.
      8801 Mission Road, Leawood, KS 66206
      View Details
    • $599,000

      Leawood Hilltop Estate Opportunity

      2.35-acre land in Leawood, build your dream home!
      3708 W 151st Street, Leawood, KS 66224
      View Details
    • $5,000,000
      51,178 SF

      Leawood Office Building For Sale

      51,178 SF office building in Leawood, Kansas.
      5200 W 110th St, Leawood, KS
      View Details
    • Contact for pricing
      12,000 SF

      Leawood Village Mixed-Use Development

      Mixed-use development with retail, restaurant, and office spaces for lease.
      8650 State Line Rd, Leawood, KS
      View Details
    • Contact for pricing
      4,000 SF

      Leawood Village Mixed-Use Development

      Retail, restaurant, and office spaces available in Leawood Village.
      8670 State Line Rd, Leawood, KS
      View Details
    • $2,857,000

      Leawood Land Parcel For Sale

      Prime Leawood land parcel designated for mixed-use development.
      135th St, Leawood, KS 66224
      View Details
    • $711,552

      Leawood Business Park Land Available

      Development-ready sites in Leawood Business Park, close to amenities.
      14100 Cambridge, Leawood, KS
      View Details
    • $510,305

      Leawood Business Park Land Available

      Development-ready sites in Leawood Business Park, close to amenities.
      14101 Overbrook Rd, Leawood, KS
      View Details
    • Contact for pricing
      7,887 SF

      Restaurant Pad Site For Lease

      Restaurant pad site with patio and elevator access available.
      5001 Town Center Dr, Leawood, KS
      View Details
    • $304,266

      Leawood Business Park Land Available

      Development-ready sites in excellent Leawood Business Park location.
      14108 Overbrook Rd, Leawood, KS
      View Details
    • Contact for pricing
      486,272 SF

      Premier Mixed-Use Destination in Leawood

      Class A office, retail, and restaurant space in affluent Leawood.
      11500 Ash Street, Leawood, KS 66211-7804
      View Details
    • $790,000

      Leawood Land with 135th Street Frontage

      1.61 acres of land with mixed-use zoning.
      13480 Briar Dr, Leawood, KS
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Exceptional residential lot in a highly desirable Leawood location.
    Where is this residential land & home lot located?
    The property is located at 5448 W 128TH. Terrace Leawood, 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: Prime Leawood Location: Situated in a highly desirable, established, and upscale Leawood neighborhood.; Ready‑to‑Build Lot: Level homesite with utilities available at the street, offering a seamless building process.; Award‑Winning Blue Valley Schools: Benefit from access to top‑rated education.
    (913) 353-6767
    We can help!
    Listing Contact
    Krishna Chinnam
    Krishna Chinnam
    Real Estate License ID: 00245999
    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
    5448 W 128TH. Terrace, Leawood, KS 66209
    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!