Back to Search
Property profile & analytics
FOR LEASE
Office Spaces
11900 W 87Th Street Pkwy Lenexa, KS 66215
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US33-0681155
For Lease
1 / 2
$16 SF/Yr
11900 W 87Th Street Pkwy, Lenexa, KS 66215
View Listing →
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1985
Construction
FRAME
Total area
37,191 SF
Lot
3.32 ac (144,619 SF)
Zoning code
CP2
APN
IF241227-4023
UPID
US33-0681155
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.02M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.63M
Blend (final)
Blend
$1.33M
Owner & transaction history
West 87 Investors LLC · 6 yrs held
West 87 Investors LLC
since 2019
1 recorded transaction
Zoning & alternative use
CP2 · Lenexa, KS
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Lenexa submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lenexa 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
$1,015,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
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
Blend value · Realmo final
$1.33M
Range $1.19M – $1.46M · ±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
$36 / 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
$100,974
Tax year 2023
Assessed value
$867,250
Assessed 2023
Previous assessed
$825,000
+5.1% YoY
Effective rate
11.64%
On assessed value
Assessed land
$434,035
Assessed improvement
$433,215
Land market value
$1,736,140
Improvement market value
$1,732,860
Total market value
$3,469,000
Applied tax rate
604.0000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
For Lease
Year built
1985
Construction
FRAME
Heating
YES
Cooling
AC.PACKAGE
Stories
2
Units
1
Total area
37,191 SF
Lot
3.32 ac (144,619 SF)
Zoning code
CP2
APN
IF241227-4023
UPID
US33-0681155
Jurisdiction
JOHNSON
Zoning & alternative use
CP2 · Lenexa, KS
Zoning CP2 · permitted uses
CP2 · Lenexa, KS
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lenexa. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.9M
WAREHOUSE, STORAGE
Est. value
$1.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.7M
COMMERCIAL (GENERAL) Current
WAREHOUSE, STORAGE
APARTMENT HOUSE (5+ UNITS)
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
1985
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
2
Units
1
Lot
3.32 ac
Current owner
From public records · entity-resolved
West 87 Investors LLC
Entity
Mailing address
5600 W 95TH ST STE #307, OVERLAND PARK, KS 66207-2968
Ownership since
2019
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
Aug 2, 2019
—
West 87 Investors LLC
College West III Holding LLC
Special Warranty Deed
$4,670,000 · Royal Neighbors Of America
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
