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    191st Hwy Spring Hill, KS 66083
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    191st Hwy, Spring Hill, KS 66083

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    • Retail properties & Spaces
    • 1.40 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 191st Hwy

    Lot size
    1.40 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    This exceptional 1.4-acre commercial lot, located at the highly visible intersection of 191st and 169 Highway (Northeast Quadrant) in Spring Hill, Kansas, presents a unique investment opportunity. Zoned C-2, this property is ideally suited for a variety of commercial uses, including retail, office, and industrial developments, as well as auto shops and flex spaces. The site boasts excellent highway visibility, ensuring high traffic exposure for any business. It's fully prepared as a pad site, ready for immediate development, with existing utilities already connected to the site. Conveniently located in Johnson County, Kansas, with a 66083 zip code, this property offers easy access to major transportation routes and a thriving community. The paved streets provide convenient access and ample parking opportunities. The asking price for this exceptional commercial lot is $320,000. Don't miss this chance to secure a prime location for your next venture.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Spring Hill
    County
    Johnson
    State
    Kansas
    Longitude
    -94.8251
    Latitude
    38.7819

    Comparable in this City

    • Value Estimation by Request
      0.28 Acres

      701 Webster St

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      701 Webster St, Spring Hill, KS 66083
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    • Value Estimation by Request
      1.61 Acres

      Webster St

      Land
      0 Webster St, Spring Hill, KS 66083
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    • Value Estimation by Request
      0.10 Acres

      Spring

      AUTO REPAIR, GARAGE
      Spring, Hill, KS 66083
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    • Value Estimation
      $540,000
      11,200 SF

      20245 185th Ter

      AUTO REPAIR, GARAGE
      20245 185th Ter, Spring Hill, KS 66083-8491
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    • Value Estimation by Request
      0.67 Acres

      Spring

      AUTO REPAIR, GARAGE
      Spring, Hill, KS 66083
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    • Value Estimation by Request
      2,424 SF

      103 Main St

      AUTO REPAIR, GARAGE
      103 Main St, Spring Hill, KS 66083-2200
      View Details

    Similar Nearby for Sale

    • $300,000
      1.03 Acres

      Spring Hill Commercial Lot - $300K

      Prime C2-zoned lot, high traffic, development potential.
      807 Webster St, Spring Hill, KS 66083
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      Land For Sale Spring Hill

      Land available for purchase in Spring Hill, Kansas.
      721 S Webster St, Spring Hill, KS 66083
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    • $300,000
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      Spring Hill Commercial Land Opportunity

      1.03-acre lot, C2 zoning, high traffic
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      Land For Sale

      1.61 acres of land available for purchase.
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      Large Tract Near Spring Hill

      Two parcels totaling approximately 99.88 acres near Spring Hill.
      207Th St, Spring Hill, KS 66083
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      160 Acres Prime Development Land

      Development opportunity near 69 HWY in Spring Hill.
      18721 W 207Th St, Spring Hill, KS 66083
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    Similar Nearby for Lease

    • $1,000 /Mo
      30,492 SF

      Spring Hill Commercial Space Available

      Affordable space for small business, office, storage, or sales.
      702 S Webster Inside St, Spring Hill, KS 66083
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    • $500 /Mo
      30,492 SF

      Spring Hill Parking Space Available

      Parking space for lease, suitable for food truck business.
      702 S Webster Parking Lot St, Spring Hill, KS 66083
      View Details
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    Spring Hill, KS 66083
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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.

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