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    135th St & Mur-Len Rd Olathe, KS 66062

    Sponsored
    For Lease
    $13 SF/Yr

    High-traffic retail space available in Olathe, KS.

    Lot size:
    20,987 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    407
    Santa Fe Square, a vibrant retail center in Olathe, Kansas, offers exceptional opportunities for businesses seeking high-visibility locations. This 20,987 square foot center boasts a prime position at the intersection of 135th Street and Mur-Len Road, just east of I-35, placing it within one of Olathe's most dynamic retail corridors. Currently, a significant portion of the center, totaling 20,977 square feet, is available for lease. Spaces range from a minimum of 1,185 square feet to a maximum contiguous space of 6,736 square feet, with two immediately available spaces measuring 1,389 and 4,073 square feet. The property sits on a 1.07-acre lot and is located in Johnson County, Kansas, zip code 66062. The center benefits from strong existing tenants, including Savers, Planet Fitness, Big Biscuit, Fuzzy's Taco Shop, and Subway, ensuring a robust and established customer base. In addition to the available inline spaces, outparcel buildings and pad sites are also available for lease, providing further flexibility for potential tenants. This location offers unparalleled access to a thriving community, making it an ideal choice for businesses seeking to establish or expand their presence in the Olathe market. The property's strategic location and existing tenant mix create a compelling opportunity for businesses seeking a high-traffic, well-established retail environment.

    Property Features for 135th St & Mur-Len Rd

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    20,987 SF
    Total Rate
    22735.92

    Unit(s) available at that property

    Space
    Suite 101
    Size
    4,073 SF
    Space
    Suite 127
    Size
    1,389 SF
    Rate per SF
    $20

    We can help!

    Listing Contact
    Chase Glaeser
    Chase Glaeser

    Learn more

    HighLights

    • 72,000 vehicles pass the 135th & Mur‑Len intersection daily.
    • 135th Street (Santa Fe) sees 47,000 vehicles per day, and Mur‑Len Road sees 26,000.
    • Prime inline retail space available in Olathe, KS.
    • Outparcel building and pad sites available with Mur‑Len Road frontage.
    • Located near I‑35 (114,000+ vehicles per day), 19 miles southwest of downtown Kansas City.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Olathe
    County
    Johnson
    State
    Kansas
    Longitude
    -94.7794215
    Latitude
    38.883617

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    FAQs

    What type of property is this?
    Retail property - High-traffic retail space available in Olathe, KS.
    Where is this retail property located?
    The property is located at 135th St & Mur-Len Rd Olathe, KS.
    What is the lease rate?
    The lease rate is $0.00-$20 SF/Yr.
    What are key features of this property?
    This property features: 72,000 vehicles pass the 135th & Mur-Len intersection daily.; 135th Street (Santa Fe) sees 47,000 vehicles per day, and Mur-Len Road sees 26,000.; Prime inline retail space available in Olathe, KS.
    Request Owner's contact information
    135th St & Mur-Len Rd Olathe, KS 66062
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    Olathe, KS 66062
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    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
    135th St & Mur-Len Rd Olathe, KS 66062
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    We can help!
    Listing Contact
    Chase Glaeser
    Chase Glaeser
    Real Estate License ID: KS 00245564
    Learn more
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