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    159th St & Mur-Len Rd Olathe, KS 66062

    For Sale
    $1,900,000

    Prime Olathe land, ideal for development.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    360
    This exceptional 11.7-acre parcel, located at the intersection of 159th Street and Mur-Len Road in Olathe, Kansas (zip code 66062), presents a unique investment opportunity. The property is zoned RUD and RLD, allowing for a variety of development options. The land is divisible, with the potential to create three approximately 3-acre pad sites, particularly suitable for development fronting Mur-Len Road. This makes it an excellent location for multifamily, senior living, or retail projects. Its strategic location is adjacent to a Price Chopper-anchored shopping center, ensuring high visibility and convenient access. The site boasts impressive traffic counts, with 9,622 vehicles per day traversing the intersection. The surrounding demographics are highly favorable, with an average household income exceeding $108,689 within a 5-mile radius and a population of 135,790 in the same area. The asking price is $1,900,000, translating to approximately $3.73 per square foot. Annual property taxes are $4,840.82. This property offers significant potential for developers seeking a prime location in a thriving market.

    Property Features for 159th St & Mur-Len Rd

    General Information

    Property type
    Land
    Lot Size
    509,652 SF

    HighLights

    • 11.7± acre divisible parcel, potential for three 3± acre pad sites fronting Mur‑Len Road.
    • Excellent location for multifamily, senior living, or retail development.
    • Adjacent to a Price Chopper‑anchored shopping center in Olathe, KS (66062).
    • Zoned RUD and RLD.
    • $1,900,000 sale price ($3.73/SF); $4,840.82 annual property taxes.
    • Strong demographics: $108,689 average household income and 135,790 population within a 5‑mile radius; 9,622 vehicles per day at the intersection.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Olathe
    County
    Johnson
    State
    Kansas
    Longitude
    -94.7795958
    Latitude
    38.8402491

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    FAQs

    What type of property is this?
    Land - Prime Olathe land, ideal for development.
    Where is this land located?
    The property is located at 159th St & Mur-Len Rd Olathe, KS.
    What is the asking price?
    The asking price for this property is $1,900,000.
    What are key features of this property?
    This property features: 11.7± acre divisible parcel, potential for three 3± acre pad sites fronting Mur-Len Road.; Excellent location for multifamily, senior living, or retail development.; Adjacent to a Price Chopper-anchored shopping center in Olathe, KS (66062).
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    Olathe, KS 66062
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    Realmo Value Estimation

    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.

    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.

    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
    159th St & Mur-Len Rd Olathe, KS 66062
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