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    Property profile & analytics

    6614 Florence St Mission, KS 66202

    • Land
    For Sale
    View listing
    $250,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 6614 Florence St

    Property type
    Land

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Mission
    County
    Johnson, KS
    State
    Kansas
    Longitude
    -94.6709
    Latitude
    39.0247

    Comparable in this City

    • Value Estimation by Request

      6615 Florence St

      Land
      6615 Florence St, Mission, KS 66202
      View Details
    • Value Estimation by Request

      6611 Florence St

      Land
      6611 Florence St, Mission, KS 66202
      View Details
    • Value Estimation by Request

      6610 Florence St

      Land
      6610 Florence St, Mission, KS 66202
      View Details
    • Value Estimation
      $295,000
      0.84 Acres

      7205 55th Ter

      GARDEN APT, COURT APT (5+ UNITS) • 0.84 Acres
      7205 55th Ter, Shawnee Mission, KS 66202-1221
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    • Value Estimation
      $255,000
      0.02 Acres

      Mission, KS 66202

      GARDEN APT, COURT APT (5+ UNITS) • 0.02 Acres
      Mission, KS 66202
      View Details
    • Value Estimation
      $610,000
      18,414 SF

      6121 Marty St

      GARDEN APT, COURT APT (5+ UNITS) • 18,414 SF
      6121 Marty St, Overland Park, KS 66202-3177
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    Similar Nearby for Sale

    • $150,000

      Mission, KS Residential Lot

      Prime Mission location, build your dream home.
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    • $200,000

      Mission, KS Residential Lot

      Prime Mission location, 9,980 sq ft lot.
      6611 Florence St, Mission, KS 66202
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    • $250,000

      Mission, KS Residential Lot

      Prime Mission location, build your dream home.
      6614 Florence St, Mission, KS 66202
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    • Contact for pricing

      Land For Sale Merriam, Kansas

      Land available for sale in Merriam, Kansas.
      5452 Antioch Rd, Merriam, KS 66202
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      0.25 Acres

      Duplex in Prime Location

      Duplex with potential for short-term rental income.
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    • $200,000
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      Land in Prime Mission Location

      Land for sale in an established, treed Mission neighborhood.
      6610 Florence St, Mission, KS 66202
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    Similar Nearby for Lease

    • $20 SF/Yr
      261,086 SF

      SUMMIT52: Overland Park Office Space

      Overland Park office, flexible suites, ample parking.
      5200 Metcalf Ave, Overland Park, KS 66202
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      900 SF Office Space Available - Lease Now
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      Prime Medical Office Space Available in Mission, KS
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      4,351 SF

      Prime Retail Space in Mission

      Retail space in the heart of Mission, Kansas.
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    • $21 SF/Yr
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      Mission Office Space For Rent

      Office space in a 10-building, 400,000 square foot park.
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    • $16 SF/Yr
      8,621 SF

      Mission Retail Center - Prime Location

      8,621 SF Retail Space, 3 Units Available
      5811 Johnson Dr, Mission, KS 66202
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    6614 Florence St
    Mission, KS 66202
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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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