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    12226 Parallel Pkwy & 2011 Kansas City, KS 66109

    • Commercial real estate
    • 1.84 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US33-0211174
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 12226 Parallel Pkwy & 2011

    Lot size
    1.84 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional commercial land offering presents a unique investment opportunity in Kansas City, Kansas. Located at the corner of Parallel Parkway and N. 123rd Street, this property boasts excellent visibility and accessibility. The lot size is flexible, ranging from 1.84 to a substantial 13.27 acres, providing ample space for a variety of development projects. Its strategic location offers significant advantages, situated just one mile from the newly constructed American Royal complex and the proposed Mattel theme park, promising substantial future growth and increased foot traffic. Furthermore, the property enjoys convenient proximity to other key attractions, including a five-minute drive to the Legends shopping and entertainment district and a ten-minute drive to the new Homefield development. This prime location within the Piper Unified School District 203 adds to its appeal. The property's zoning and potential uses should be verified independently. This is an exceptional opportunity to acquire a large, highly visible parcel of land in a rapidly developing area of Kansas City. Don't miss this chance to secure a piece of Kansas City's exciting future.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Kansas City
    County
    Wyandotte
    State
    Kansas
    Longitude
    -94.8634469
    Latitude
    39.129143

    Comparable in this City

    • $794,534

      Land I-435 and Leavenworth

      Land with excellent visibility and easy access from I-435.
      10640 Russell Ave, Kansas City, KS 66109
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    • $1,995,000

      Land for Sale

      Land available for sale in Kansas City, Kansas.
      10010 Lafayette Ave, Kansas City, KS 66109
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    • $65,000
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      Kansas City Residential Land

      0.21-acre lot, $65,000
      2938 114Th Ct, Kansas City, KS 66109
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    • $700,000
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      Kansas City Commercial Land Investment

      17.4 Acres, I-435 Frontage
      3979 Hutton Rd, Kansas City, KS 66109
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      Kansas City Commercial Land - Prime Location

      45,738 SF Commercial Land Parcel for Sale
      0 110Th St, Kansas City, KS 66109
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    • $715,000

      Kansas City Land Investment Opportunity

      Prime development land near Speedway.
      11904 Parallel Pkwy, Kansas City, KS 66109
      View Details

    Similar Nearby for Sale

    • $794,534

      Land I-435 and Leavenworth

      Land with excellent visibility and easy access from I-435.
      10640 Russell Ave, Kansas City, KS 66109
      View Details
    • $1,995,000

      Land for Sale

      Land available for sale in Kansas City, Kansas.
      10010 Lafayette Ave, Kansas City, KS 66109
      View Details
    • $65,000
      0.21 Acres

      Kansas City Residential Land

      0.21-acre lot, $65,000
      2938 114Th Ct, Kansas City, KS 66109
      View Details
    • $700,000
      17.40 Acres

      Kansas City Commercial Land Investment

      17.4 Acres, I-435 Frontage
      3979 Hutton Rd, Kansas City, KS 66109
      View Details
    • Contact for pricing

      Kansas City Commercial Land - Prime Location

      45,738 SF Commercial Land Parcel for Sale
      0 110Th St, Kansas City, KS 66109
      View Details
    • $715,000

      Kansas City Land Investment Opportunity

      Prime development land near Speedway.
      11904 Parallel Pkwy, Kansas City, KS 66109
      View Details

    Similar Nearby for Lease

    • $35 SF/Yr

      Retail Pad Site For Lease

      New retail pad site in a power retail shopping center.
      10650 Parallel Pkwy, Kansas City, KS 66109
      View Details
    • Contact for pricing

      Industrial Land Near I-70/I-435

      Industrial land for lease, build-to-suit, or user land sales.
      N 99Th St, Kansas City, KS 66109
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      Prime Land Parcel For Rent

      Land parcel with high traffic and immediate highway access.
      10940 Parallel Pkwy, Kansas City, KS 66109
      View Details
    • Contact for pricing
      215,240 SF

      Power Retail Shopping Center Space

      850,000 sq ft retail center near major attractions.
      10722 Parallel Pkwy, Kansas City, KS 66109
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    • Contact for pricing
      7,555 SF

      Retail Space Near Kansas Speedway

      Retail space in a shopping center with high visibility.
      10700 Parallel Pkwy, Kansas City, KS 66109
      View Details
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    Kansas City, KS 66109
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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
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