Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Property profile & analytics

    151st St And Pflumm Rd Olathe, KS 66062

    • Land
    • 7.68 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 151st St And Pflumm Rd

    Lot size
    7.68 lot acres
    Property type
    Land

    Description

    This exceptional 7.68-acre (334,540 square feet) commercial land parcel presents a remarkable development opportunity in Olathe, Kansas. Located at the northwest corner of 151st Street and Pflumm Road, this property boasts prominent visibility from a lighted intersection, offering excellent exposure to high traffic volume. The site is zoned C2 and CP-O, allowing for a variety of uses, including retail, restaurants, convenience stores, office buildings, or even senior living facilities. The land is divisible, providing flexibility for developers. This infill location offers immediate access to key amenities and infrastructure. Across the street, you'll find a newly developed Fareway Meat Market and Casey's, further enhancing the area's appeal and drawing significant consumer traffic. The Johnson County Executive Airport is also conveniently located nearby. Parcel IDs are DF241404-4001 and DF241404-4018. The 2022 combined property taxes totaled $2,991.29. The asking price is $10.00 per square foot. Right-in/right-out access on Pflumm Road is a potential depending on the specific use and location of the development. This is an exceptional opportunity to capitalize on a prime location in a thriving area of Olathe.

    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
    -94.7424
    Latitude
    38.8547

    Comparable in this City

    • Value Estimation by Request
      11.70 Acres

      159th St & Mur-Len Rd

      Land • 11.70 Acres
      159th St & Mur-Len Rd, Olathe, KS 66062
      View Details
    • Value Estimation by Request
      7,000 SF

      119th St

      Restaurants • 7,000 SF
      119th St, Olathe, KS 66062
      View Details
    • Value Estimation by Request

      Ridgeview Rd

      Land
      0 Ridgeview Rd, Olathe, KS 66062
      View Details
    • Value Estimation by Request
      5.38 Acres

      Blackfoot Dr

      Land • 5.38 Acres
      0 Blackfoot Dr, Olathe, KS 66062
      View Details
    • Value Estimation by Request
      30.00 Acres

      11000 Monticello Ter

      Commercial land • 472,771 SF
      11000 Monticello Ter, Olathe, KS 66062
      View Details
    • Value Estimation by Request
      2.74 Acres

      Indian Crk Pkwy & Mur-Len

      Land • 2.74 Acres
      0 Indian Crk Pkwy & Mur-Len, Olathe, KS 66062
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7.68 Acres

      Olathe Commercial Land - 7.68 Acres

      Prime Olathe location, high visibility, divisible acreage.
      151st St And Pflumm Rd, Olathe, KS 66062
      View Details
    • $849,000
      1.20 Acres

      Olathe Commercial Land - 1.2 Acres

      Prime 1.2-acre commercial lot in Overland Park.
      19095 151St Ter, Olathe, KS 66062
      View Details
    • $1,900,000
      11.70 Acres

      Olathe Land: 11.7 Acres, Divisible

      Prime Olathe land, ideal for development.
      159th St & Mur-Len Rd, Olathe, KS 66062
      View Details
    • $850,000
      2.94 Acres

      Olathe Commercial Land - 2.94 Acres

      Prime Olathe location, ready for development.
      133rd Blackfoot Dr, Olathe, KS 66062
      View Details
    • Contact for pricing
      162.00 Acres

      162 Acres Spring Hill, KS Land

      Prime commercial land, 162 acres, Johnson County.
      0 Hedge Ln, Spring Hill, KS 66062
      View Details
    • Contact for pricing
      65.72 Acres

      Wolf Creek Plaza: 65 Acres KS Land

      Prime Overland Park development land, residential & commercial.
      175 175Th St, Overland Park, KS 66062
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1 SF

      Olathe Retail Land Opportunity

      Multiple Spaces, 1-6 Acres Available
      151 151St St, Olathe, KS 66062
      View Details
    • Contact for pricing
      7,000 SF

      Olathe Retail Center - I-35 Access

      Prime Olathe location, 7,000 sq ft available.
      119th St, Olathe, KS 66062
      View Details
    • Contact for pricing
      196,456 SF

      Olathe Commercial Land - 4.51 Acres

      Prime Olathe location, 4.51 acres, high traffic.
      18555 151St St, Olathe, KS 66062
      View Details
    • Contact for pricing
      472,771 SF

      K-10 Commerce Centre: Olathe Land

      Prime Olathe retail development land, 30 acres.
      11000 Monticello Ter, Olathe, KS 66062
      View Details
    • $1,200,000

      Industrial Development Land For Lease

      4.58 acres of industrial development land for lease.
      19460 W 159Th St, Olathe, KS 66062
      View Details
    • Contact for pricing

      Prime Pad Site for Lease

      55,000 SF pad site with excellent visibility and access.
      135 135Th St, Olathe, KS 66062
      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.
    151st St And Pflumm Rd
    Olathe, KS 66062
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.