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Property profile & analytics
FOR SALE
Super regional malls
11981 S Strang Line Rd Olathe, KS 66062
Individually Owned
6-yr Hold
~
Est. High Equity
Property ID
US33-0505399
For Sale
1 / 3
$2,850,000
11981 S Strang Line Rd, Olathe, KS 66062
View Listing →
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1998
Construction
FRAME
Total area
7,959 SF
Lot
0.44 ac (19,279 SF)
Zoning code
CP-2
APN
DP54370000 0004
UPID
US33-0505399
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
-
Black Bear Diner Olathe Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$605k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$741k
Blend (final)
Blend
$675k
Owner & transaction history
Barbara Ibsen · 6 yrs held
Barbara Ibsen
since 2019
3 recorded transactions
Zoning & alternative use
CP-2 · Olathe, 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 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
$605,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$545,000
Current use
COMMERCIAL (GENERAL)
$535,000
Change: -2% · Conversion: Easy
AUTO REPAIR, GARAGE
$525,000
Change: -4% · Conversion: Difficult
RETAIL STORES
$465,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$675k
Range $608k – $743k · ±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
$85 / 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
$66,934
Tax year 2023
Assessed value
$572,001
Assessed 2023
Previous assessed
$510,501
+12.0% YoY
Effective rate
11.70%
On assessed value
Assessed land
$111,913
Assessed improvement
$460,088
Land market value
$447,650
Improvement market value
$1,840,350
Total market value
$2,288,000
Applied tax rate
612.0000
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
For Sale
Year built
1998
Construction
FRAME
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
7,959 SF
Lot
0.44 ac (19,279 SF)
Zoning code
CP-2
APN
DP54370000 0004
UPID
US33-0505399
Jurisdiction
JOHNSON
Zoning & alternative use
CP-2 · Olathe, KS
Zoning CP-2 · permitted uses
CP-2 · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$545,000
COMMERCIAL (GENERAL)
Est. value
$535,000
AUTO REPAIR, GARAGE
Est. value
$525,000
RETAIL STORES
Est. value
$465,000
NEIGHBORHOOD: SHOPPING CENTER Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
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
1998
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
0.44 ac
Current owner
From public records · entity-resolved
Barbara Ibsen
Individual
Mailing address
PO BOX 1827, DISCOVERY BAY, CA 94505-7827
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 18, 2019
—
Barbara Ibsen
Olathe Black Bear LLC
Special Warranty Deed
$1,226,000 · Keypoint Cu
Jan 15, 2019
—
Olathe Black Bear LLC
Sjl Partners
Special Warranty Deed
$1,160,000 · Emprise Bank
Dec 13, 2007
—
Sjl Partners
Mc Real Estate 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.
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?”
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