Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Multifamily Development Land Opportunity Title is generated by Realmo AI

    23300 W 71st Street, Shawnee, KS 66226

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    36+- acre land parcel suitable for multifamily development.

    Type:Land
    Lot size:
    36.00 Acres
    Added:
    Jul 4, 2024
    Days on Market:
    703
    Last Refresh:
    May 13 at 12:10 am

    Property Features for 23300 W 71st Street

    General Information

    Standard status
    Active
    Lot size
    36.00 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Craig Kelly

    Listing agent Craig Kelly

    Listing office Boulevard Commercial

    Listing date Jul 4, 2024

    Source Crexi

    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 Boulevard Commercial

    HighLights

    • Prime 36+- acre multifamily development land.
    • Zoned for attached housing with potential for patio homes, townhomes, and multi‑family apartment complex.
    • Excellent highway visibility and accessibility.
    • Located in a growing area with a need for multifamily development.
    • All utilities are available.
    • De Soto School District.

    Overview

    This property consists of approximately 36 acres of land, presenting a prime opportunity for multifamily development. The land is currently zoned for agricultural use; however, the Shawnee, Kansas master plan indicates that the parcel is suitable for attached housing, with potential for a combination of patio homes, townhomes, and a multifamily apartment complex. The location offers excellent highway visibility and accessibility. The surrounding area is experiencing growth and has a need for multifamily development. All utilities are available to the site. The property is located within the De Soto School District.
    Property Profile Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Law Firm Restaurant Real Estate Agency Dental Office Food Market Grocery & Convenience Store Daycare Center Building Supply Accounting Firm Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Shawnee
    County
    Johnson
    State
    Kansas
    Longitude
    -94.748624
    Latitude
    38.998449

    Nearby Similar for Sale

    • $750,000

      Commercial Strip Center with Parking

      High-visibility commercial strip center with income and parking.
      12200 Johnson Drive, Shawnee, KS 66216
      View Details
    • $319,994
      2,451 SF

      Ranch Duplex with Fenced Backyard

      Ranch-style half duplex with three bedrooms, three full baths, a finished basement, and a fenced yard for added privacy.
      22615 W 76th Terrace, Shawnee, KS 66227
      View Details
    • $849,900

      Shawnee Multifamily Investment Opportunity

      Six-unit multifamily property with value-add potential in a prime location.
      12712 W 51st Street, Shawnee, KS 66216
      View Details
    • $400,000

      Shawnee Duplex: Investment Opportunity

      Duplex in Shawnee, KS with strong rental income potential.
      5205-07 FARLEY Court, Shawnee, KS 66203
      View Details
    • $270,000
      1,244 SF

      Shawnee Duplex with Fenced Yard

      Modern duplex in Shawnee, near I-35, with investment potential.
      6202 RENE Street, Shawnee, KS 66216
      View Details
    • $500,000

      Undeveloped Land in Shawnee, Kansas

      8.1 acres of untouched land in Shawnee, Kansas.
      75th & Gleason Road, Shawnee, KS 66227
      View Details
    • $250,000

      Land in Shawnee Luxury Community

      Homesite in a luxury single-family community near Tomahawk Hills.
      6905 Central Street, Shawnee, KS 66217
      View Details
    • $375,000

      Land Near Tomahawk Hills Golf

      Homesite in luxury community near Shawnee Mission Park.
      6739 Oak Ridge Drive, Shawnee, KS 66217
      View Details
    • $165,000

      Shawnee Land Opportunity

      Residential land for sale in a luxury single-family community.
      7031 Oak Ridge Drive, Shawnee, KS 66217
      View Details
    • $1,775,000

      NNN Restaurant Pad Investment

      100% occupied NNN restaurant pad with strong visibility and a newly signed long-term lease in a growing Kansas City suburb.
      13103-13107 Shawnee Mission Parkway, Shawnee, KS 66216
      View Details
    • $1,900,000
      14,560 SF

      Shawnee Retail Center Investment Opportunity

      Multi-tenant retail center in Shawnee, Kansas with investment upside.
      12119 Johnson Dr, Shawnee, KS 66216
      View Details
    • $199,900

      Shawnee Duplex on Large Lot

      Duplex on 0.58 acres near I-35 and I-635.
      4330 Merriam Drive, Shawnee, KS 66203
      View Details

    FAQs

    What type of property is this?
    Land - 36+- acre land parcel suitable for multifamily development.
    Where is this land located?
    The property is located at 23300 W 71st Street Shawnee, KS.
    What is the asking price?
    The asking price for this property is $4,708,400.
    What are key features of this property?
    This property features: Prime 36+- acre multifamily development land.; Zoned for attached housing with potential for patio homes, townhomes, and multi‑family apartment complex.; Excellent highway visibility and accessibility.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Craig Kelly
    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
    23300 W 71st Street, Shawnee, KS 66226
    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!