Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1564 Spruce St Olathe, KS 66061
    Back to Search
    Property profile & analytics

    1564 Spruce St, Olathe, KS 66061

    View on Map
    • Industrial properties
    • 1,800 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Intoxalock Ignition Interlock / Building Supply / General Contractor
    • Midwest Construction & Design / Construction Company
    • ProVolume Inc. / Electronics & Wireless Store / Auto Parts Store

    Property Details for 1564 Spruce St

    Property type
    Industrial properties
    Property subtype
    Flex space

    Description

    This exceptional 1,800-square-foot flex space is available for lease at 1564 E. Spruce Street in Olathe, Kansas, zip code 66061. Located in Johnson County, this single-tenant property offers a versatile layout perfect for a variety of businesses. The building boasts a generous 16-foot ceiling height, providing ample vertical space for storage or specialized equipment. Convenient access is ensured by a single drive-in door. The property is zoned M-1 Light Industrial, allowing for a range of permitted uses. The entire 1,800 square feet is currently vacant and ready for immediate occupancy. Its strategic location in Olathe, Kansas offers easy access to major transportation routes and a thriving business community. This property presents a unique opportunity for businesses seeking a functional and well-located space to establish or expand their operations. The property's single-tenant status provides privacy and control over the entire space. Interested parties are encouraged to inquire further to explore the possibilities this property offers.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Olathe
    County
    Johnson
    State
    Kansas
    Longitude
    -94.7925
    Latitude
    38.8863

    Comparable in this City

    • Value Estimation by Request
      5,000 SF

      Whitney St

      Flex space
      0 Whitney St, Olathe, KS 66061
      View Details
    • Value Estimation by Request
      42.42 Acres

      Olathe, KS 66061

      INDUSTRIAL (GENERAL)
      Olathe, KS 66061
      View Details
    • Value Estimation by Request
      30,000 SF

      Lone Elm Rd & 56 Hwy

      Distribution properties
      0 Lone Elm Rd & 56 Hwy, Olathe, KS 66061
      View Details
    • Value Estimation by Request
      4.75 Acres

      Olathe, KS 66061

      INDUSTRIAL (GENERAL)
      Olathe, KS 66061
      View Details
    • Value Estimation by Request
      10.64 Acres

      Olathe, KS 66061

      INDUSTRIAL (GENERAL)
      Olathe, KS 66061
      View Details
    • Value Estimation by Request
      0.28 Acres

      Olathe, KS 66061

      INDUSTRIAL (GENERAL)
      Olathe, KS 66061
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,000 SF

      Olathe Industrial Property For Sale

      6,000 sq ft industrial property available for purchase.
      1520 W Spruce St, Olathe, KS 66061
      View Details
    • Contact for pricing
      200,566 SF

      Olathe Industrial Property for Sale

      200,566 SF industrial property with tax incentives.
      16335 John Glenn Pkwy, Olathe, KS 66061
      View Details
    • Contact for pricing
      Pending

      New Century Warehouse Space

      756,571+/- SF spec building in New Century, Kansas.
      159Th St, New Century, KS 66061
      View Details
    • Contact for pricing
      2,000 SF

      Olathe Office Building For Sale

      2,000 SF office building near Olathe City Hall.
      108 E Poplar St, Olathe, KS 66061
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      31,500 SF

      Olathe Flex R&D Building

      Flex R&D building available for sublease in Olathe, Kansas.
      16850 W 119Th St, Olathe, KS 66061
      View Details
    • Contact for pricing
      72,918 SF

      Olathe Flex R&D Building

      Flex R&D building available for sublease in Olathe, Kansas.
      17000 W 119Th St, Olathe, KS 66061
      View Details
    • Contact for pricing
      10,400 SF

      Olathe Industrial Flex Space

      Industrial flex space with outside storage and office space.
      300 N Marion St, Olathe, KS 66061
      View Details
    • Contact for pricing
      22,449 SF

      Versatile Flex Space Available Now

      Adaptable space suitable for office, flex, lab, or medical uses.
      17120 W 118Th Ter, Olathe, KS 66061
      View Details
    • Contact for pricing
      40,976 SF

      Olathe Flex Space Available Immediately

      Flexible space suitable for office, lab, medical, or manufacturing.
      17200 W 119Th St, Olathe, KS 66061
      View Details
    • Contact for pricing
      14,320 SF

      Olathe Flex Space Available

      Adaptable flex space suitable for lab, medical, or call center.
      17310 W 119Th St, Olathe, KS 66061
      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.
    1564 Spruce St
    Olathe, KS 66061
    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
    1564 Spruce St, Olathe, KS, 66061
    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!