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

    123Rd St Overland Park, KS 66213

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    1.36 Acres, Prime Location, High Traffic

    Property Features for 0 123Rd St

    General Information

    Property type
    Land
    Lot Size
    59,242 SF

    We can help!

    Listing Contact
    Adam Walz
    Adam Walz

    Listing Agency: Pace Properties Listing Agent: Adam Walz

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

    Learn more

    Overview

    This exceptional 1.36-acre commercial land parcel is ideally situated at the intersection of Blue Valley Parkway and West 123rd Street in Overland Park, Kansas (zip code 66213), Johnson County. Offered at $1,800,000, this property presents a compelling investment opportunity. Its prime location boasts high visibility and accessibility, situated as an outlot to a Costco store. The property benefits from a lighted intersection, ensuring excellent visibility for any development. The surrounding area is anchored by a strong retail presence, including major national brands such as Target, Walmart, Hobby Lobby, and Whole Foods, creating a vibrant and high-traffic commercial environment. This strategic location offers significant potential for a variety of commercial uses, capitalizing on the established retail concentration and high consumer traffic. The property's size and location make it an attractive option for developers seeking a high-impact commercial development site in a thriving Kansas City suburb. A lease rate of $140,000 per year, NNN, is also available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Overland Park
    County
    Johnson
    State
    Kansas
    Longitude
    -94.6743276
    Latitude
    38.9055529

    Nearby Similar for Sale

    • $800,000
      4,500 SF

      Versatile Commercial Building in Overland

      Adaptable commercial building suitable for various business uses.
      10484 Marty St, Overland Park, KS 66212
      View Details
    • $650,000
      1.79 Acres

      Overland Park Flex-Space Ownership Opportunity

      Rare opportunity to own commercial real estate in Overland Park.
      12647 Hemlock St, Overland Park, KS 66213
      View Details
    • $600,000
      1.79 Acres

      Overland Park Flex-Space Opportunity

      Commercial flex-space for sale in thriving Overland Park market.
      12651 Hemlock St, Overland Park, KS 66213
      View Details
    • $365,000
      1,876 SF

      Overland Park Duplex with Basement

      Well-maintained duplex with finished basement, abundant storage, and included services.
      11332 King St, Overland Park, KS 66210
      View Details
    • $340,000
      Pending

      Renovated Duplex in Blue Valley Schools

      Meticulously renovated half-duplex with modern upgrades and serene backyard.
      10710 W 115Th St, Overland Park, KS 66210
      View Details
    • $1,554,591
      0.20 Acres

      Remodeled Office Building For Sale

      Remodeled office building with four suites, two leased, two available.
      10580 Barkley St, Overland Park, KS 66212
      View Details
    • $325,000
      2,092 SF

      Overland Park Duplex Near Stoll Park

      Spacious townhome backing to Stoll Park with recent updates.
      11838 Oakmont St, Overland Park, KS 66210
      View Details
    • New
      $310,000
      1,621 SF

      Overland Park Duplex For Sale

      Duplex in Indian Creek Park Estates, needs updating, great location.
      10826 W 115Th Pl, Overland Park, KS 66210
      View Details
    • New
      $260,000
      1,726 SF

      Updated Duplex with Two-Car Garage

      Renovated Overland Park duplex with garage, basement, and fenced yard.
      5557 Santa Fe Dr, Overland Park, KS 66202
      View Details
    • New
      $175,000
      Pending

      Overland Park Duplex Opportunity

      Half-duplex in Overland Park near highways, shopping, and dining.
      7728 Kessler Ln, Overland Park, KS 66204
      View Details
    • Contact for pricing

      Renovated Office Building in Overland

      Completely renovated office building with modern amenities and ample parking.
      10950 Grandview St, Overland Park, KS 66210
      View Details

    FAQs

    What type of property is this?
    Land - 1.36 Acres, Prime Location, High Traffic
    Where is this land located?
    The property is located at 123Rd St Overland Park, KS.
    What is the asking price?
    The asking price for this property is $1,800,000.
    What are key features of this property?
    This property features: Costco-anchored outparcel.; High-visibility corner lot with lighted intersection access.; Strong retail co-tenancy including Costco, Target, Walmart, Hobby Lobby, and Whole Foods.
    (314) 968-9898 Call to check price and availability
    Request Owner's contact information
    123Rd St Overland Park, KS 66213
    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.
    123Rd St
    Overland Park, KS 66213
    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
    123Rd St Overland Park, KS 66213
    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!
    Contact for Pricing
    Please call us for current price
    and status of this listing Adam Walz
    Adam Walz
    (314) 968-9898
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!