Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1240 Corinthian Ln Lee's Summit, MO 64081
    Back to Search
    Property profile & analytics

    1240 Corinthian Ln Lee's Summit, MO 64081

    View on Map
    • Land
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 1240 Corinthian Ln

    Property type
    Land

    Description

    This exceptional 25,001 square foot lot presents a rare opportunity to build a custom home in the coveted New Longview neighborhood of Lee's Summit, Missouri. Located on a desirable corner cul-de-sac, this expansive property offers over half an acre of land with the potential to expand to nearly a full acre. The lot boasts a tranquil setting, backing up to greenspace adjacent to the historic Longview Mansion, ensuring privacy and a peaceful atmosphere. New Longview residents enjoy an array of first-class amenities, including a 20-acre lake, a picturesque historic pergola, a refreshing community pool, a relaxing park, nearly six acres of dedicated greenspace, and well-maintained walking trails. The property is zoned for residential construction, allowing for the creation of a stunning custom home. Approved builders are available, or you may bring your own builder (subject to community approval). Don't miss this chance to secure one of the few remaining estate lots in this highly sought-after community. The property is conveniently located at 1240 SW Corinthian Lane, Lee's Summit, MO 64081, within Jackson County. This is an ideal location for those seeking a luxurious and amenity-rich lifestyle in a prestigious neighborhood. The asking price for this remarkable property is $350,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lee's Summit
    County
    Jackson
    State
    Missouri
    Longitude
    -94.4514
    Latitude
    38.8988

    Comparable in this City

    • Value Estimation by Request

      N/A

      Land
      0 N/A, Lee's Summit, MO 64081
      View Details
    • Value Estimation by Request

      1021 Redbuck Cir

      Land
      1021 Redbuck Cir, Lee's Summit, MO 64081
      View Details
    • Value Estimation by Request

      1109 Corinthian Ln

      Land
      1109 Corinthian Ln, Lee's Summit, MO 64081
      View Details
    • Value Estimation by Request

      727 10Th St

      Land
      727 10Th St, Lee's Summit, MO 64081
      View Details
    • Value Estimation by Request
      0.34 Acres

      1212 Corinthian Ln

      Land • 0.34 Acres
      1212 Corinthian Ln, Lee's Summit, MO 64081
      View Details
    • Value Estimation by Request

      1055 Corinthian Ln

      Land
      1055 Corinthian Ln, Lee's Summit, MO 64081
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land For Sale

      Land available for sale.
      651 SE Oldham Pkwy, Lees Summit, MO 64081
      View Details
    • $235,000

      Land for Sale

      Land available in Lee's Summit, Missouri.
      1224 SW Corinthian Ln, Lees Summit, MO 64081
      View Details
    • New
      $347,743
      Pending

      Lee's Summit Duplex For Sale

      Duplex in Lee's Summit, Missouri, with 1649 square feet.
      1204 SE Cronin St, Lees Summit, MO 64081
      View Details
    • $332,666
      1,394 SF

      Single-Level Duplex in Lee's Summit

      Open-concept duplex with optional finished lower level in Lee's Summit.
      1225 SE Windbreak Dr, Lees Summit, MO 64081
      View Details
    • $349,862
      1,649 SF

      Ranch-Style Duplex in Lee's Summit

      Spacious ranch duplex with potential for lower level expansion.
      1210 SE Cronin St, Lees Summit, MO 64081
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space Near High-Traffic Hy-Vee

      Retail space with high visibility and access to Highway 50.
      403 SW Ward Rd, Lees Summit, MO 64081
      View Details
    • Contact for pricing
      35,000 SF

      Available Office Space in Lee's Summit

      35,000 SF office space available for lease in Lee's Summit.
      & I-470 View High Dr, Lees Summit, MO 64081
      View Details
    • $18 SF/Yr
      2,070 SF

      Move-in Ready Office Suites

      Move-in ready office suites for lease in central location.
      600 NW Murray Rd, Lees Summit, MO 64081
      View Details
    • Contact for pricing
      2,590 SF

      Retail Space Available For Rent

      Retail space available for lease in Lee's Summit, Missouri.
      403-447 SW Ward Rd, Lees Summit, MO 64081
      View Details
    • Contact for pricing

      Retail Space in Lee's Summit

      Prime retail space near downtown Lee's Summit, Missouri.
      1100 SW 3Rd St, Lees Summit, MO 64081
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease.
      1690-1694 NW Chipman Rd, Lees Summit, MO 64081
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1240 Corinthian Ln
    Lee's Summit, MO 64081
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1240 Corinthian Ln, Lee's Summit, MO, 64081
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!