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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    11900 W 87Th Street Pkwy Lenexa, KS 66215

    • Office Properties & Spaces
    • 37,191 SF
    • 3.32 lot acres
    For Lease
    View listing
    Value Estimations
    $1,325,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US33-0681155
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office Properties & Spaces

    Property Details for 11900 W 87Th Street Pkwy

    Year built
    1985
    Construction
    FRAME
    Lot size
    3.32 lot acres
    Property size
    37,191 SF
    Zone code
    CP2
    Property type
    Office Properties & Spaces
    APN
    IF241227-4023
    APU
    IF2412274023

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,015,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,632,000
      Market price range: $1.31M - $2.97M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,875,000
      Current use
      WAREHOUSE, STORAGE
      $1,715,000
      Change: -9% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $1,700,000
      Change: -9% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lenexa
    County
    Johnson
    State
    Kansas
    Longitude
    -94.7246
    Latitude
    38.9718
    CBSA code
    28140
    CBSA name
    KANSAS CITY, MO-KS METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $100,974
    $434,035
    $433,215
    $867,250
    -
    $1,736,140
    $1,732,860
    $3,469,000

    Comparable in this City

    • Value Estimation by Request
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      1.49 Acres

      Lenexa, KS 66215

      OFFICE (GENERAL) • 1.49 Acres
      Lenexa, KS 66215
      View Details
    • Value Estimation by Request
      4,964 SF

      11490 Strang Line Rd

      OFFICE (GENERAL) • 4,964 SF
      11490 Strang Line Rd, Lenexa, KS 66215-4046
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      6,000 SF

      13250 98th St

      OFFICE (GENERAL) • 6,000 SF
      13250 98th St, Lenexa, KS 66215-1359
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    • Value Estimation by Request
      3,812 SF

      13402 92nd St

      OFFICE (GENERAL) • 3,812 SF
      13402 92nd St, Lenexa, KS 66215-3637
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    • Value Estimation by Request
      4,608 SF

      9870 Quivira Rd

      OFFICE (GENERAL) • 4,608 SF
      9870 Quivira Rd, Lenexa, KS 66215-1664
      View Details

    Similar Nearby for Sale

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      35,454 SF

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      70,589 SF

      College Crossing Business Park

      Lenexa, KS Flex Warehouse - 70,589 SF
      10932-10950 Strang Line Rd, Lenexa, KS 66215
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    • $1,500,000
      8,000 SF

      Lenexa Medical/Office Investment Opportunity

      Medical and office property for sale in Lenexa, Kansas.
      8650 Candlelight Ln, Lenexa, KS 66215
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      28,041 SF

      Lenexa Office Building For Sale

      Office building with 28,041 square feet of space.
      11001-11037 Strang Line Rd, Lenexa, KS 66215
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    • Contact for pricing
      8,000 SF

      Single Story Office/Flex Space

      8,000 SF single-story office/flex space with dock and parking.
      14563 W 96Th Ter, Lenexa, KS 66215
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    • Contact for pricing

      Vacant Land for Retail/Multi-Family

      31.85 acres zoned CP2 for retail and multi-family.
      22939 W 83Rd Pl, Lenexa, KS 66215
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    Similar Nearby for Lease

    • Contact for pricing
      77,035 SF

      College Crossing Business Park - Flex Space

      Lenexa, KS: 77,035 SF Flex/Warehouse Space Available
      11036 Strang Line Rd, Lenexa, KS 66215
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    • Contact for pricing
      65,900 SF

      College Crossing Business Park Space

      Johnson County flex space for lease. Multiple suites available.
      10902-10918 Strang Line Rd, Lenexa, KS 66215
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      70,589 SF

      College Crossing: Lenexa Industrial Space

      70,589 SF Flex/Warehouse Space Available
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    • $28 SF/Yr
      14,600 SF

      Blue Valley Medical Office Building

      Prime Medical/Office Space - I-35 Access
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    • $21 SF/Yr
      2,300 SF

      Retail/Office Space Near Oak Park

      Retail and office spaces for lease near Oak Park Mall.
      9764 Quivira Rd, Lenexa, KS 66215
      View Details
    • Contact for pricing
      6,700 SF

      Lenexa Retail/Office Space Available

      Retail and office spaces for lease near Oak Park Mall.
      9800-9806 Quivira Rd, Lenexa, KS 66215
      View Details
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    Lenexa, KS 66215
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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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