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Property profile & analytics
OFF-MARKET
Estimated value
$1,090,000
Garden apartment buildings
1110 Virginia Ln Olathe, KS 66061-4190
Entity Owned
18-yr Hold
Free & Clear
Property ID
US33-0464681
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1969
Construction
FRAME
Total area
22,369 SF
Lot
3.89 ac (169,448 SF)
Zoning code
R3
APN
DP29000000 0001A
UPID
US33-0464681
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Governors Court Apartments Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$875k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.31M
Blend (final)
Blend
$1.09M
Owner & transaction history
Kci Governor S Court I LLC · 18 yrs held
Kci Governor S Court I LLC
since 2007
1 recorded transaction
Zoning & alternative use
R3 · Olathe, KS
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.7M
+68.4%
Industrial (general)
$1.6M
+59.8%
Retail stores
$1.6M
+56.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Olathe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Olathe submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$875,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,020,000
Current use
AUTO REPAIR, GARAGE
$1,720,000
Change: +68% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,635,000
Change: +60% · Conversion: Difficult
RETAIL STORES
$1,600,000
Change: +56% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,550,000
Change: +52% · Conversion: Difficult
Blend value · Realmo final
$1.09M
Range $981k – $1.20M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$49 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$78,129
Tax year 2023
Assessed value
$668,495
Assessed 2023
Previous assessed
$543,030
+23.1% YoY
Effective rate
11.69%
On assessed value
Assessed land
$63,394
Assessed improvement
$605,101
Land market value
$551,250
Improvement market value
$5,261,750
Total market value
$5,813,000
Applied tax rate
8.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1969
Construction
FRAME
Heating
NONE
Cooling
AC.PACKAGE
Buildings
4
Stories
2
Units
20
Bathrooms
3
Total area
22,369 SF
Lot
3.89 ac (169,448 SF)
Zoning code
R3
APN
DP29000000 0001A
UPID
US33-0464681
Jurisdiction
JOHNSON
Zoning & alternative use
R3 · Olathe, KS
Zoning R3 · permitted uses
R3 · Olathe, KS
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Olathe. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$1.7M
INDUSTRIAL (GENERAL)
Est. value
$1.6M
RETAIL STORES
Est. value
$1.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.6M
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1969
Construction
FRAME
Heating
NONE
Cooling
Yes
Stories
2
Buildings
4
Units
20
Bathrooms
3
Lot
3.89 ac
Current owner
From public records · entity-resolved
Kci Governor S Court I LLC
Entity
Free & Clear · 18 yrs held
Mailing address
9633 REDBUD LN, LENEXA, KS 66220-3684
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 10, 2007
—
Kci Governor S Court I LLC
Governors Court LLC
Special Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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