12100 State Line Rd Leawood, KS 66209-1201
Property Lookup
Property profile & analytics
12100 State Line Rd Leawood, KS 66209-1201
- Community centers
- 5,550 SF
Property ID
US33-0378655
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.
Location Intelligence
Current Use by Public Records
- Community centers
Property Details for 12100 State Line Rd
- Year built
- 1986
- Property size
- 5,550 SF
- Property type
- Community centers
- Property subtype
- Shopping centers
- APN
- HP70000000 0002
- APU
- HP700000000002
Description
Leawood Plaza, a 33,224-square-foot retail center in Leawood, Kansas (Johnson County, zip code 66209), presents a compelling value-add opportunity. Located on the west side of State Line Road, this Class B shopping center offers significant upside potential. Currently 75.5% occupied, the property features 8,132 square feet of readily leasable space and two month-to-month tenants below market rent, allowing for substantial NOI growth exceeding 70%. The average in-place rent is $16.23 per square foot, with eight tenants paying below market rates ($8.57 to $17.00 PSF), compared to market rates of $17.00 to $25.00 PSF along the State Line corridor. This presents a clear opportunity for rent increases upon lease renewal. The property boasts a strong tenant mix, including national brands like Edward Jones, State Farm, Papa Murphy's, Duck Donuts, and UPS, alongside a diverse range of service-based businesses. Four tenants (26.5% of the rent roll) have occupied the center for over 10 years, contributing to a weighted average lease term of 4.0 years. The center is shadow-anchored by Dan & Cassidy Towriss IDEA Space, a state-of-the-art learning center. Built between 1986 and 1987, the property comprises four single-story buildings on a 5.42-acre lot. The asking price is $5,650,000, with a current NOI of $351,529 and a pro-forma NOI of $597,647, representing a 6.22% cap rate and a pro-forma cap rate of 10.58%, respectively. This investment offers a blend of established tenants and significant potential for increased profitability.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- ML approach
- $615,000
-
Alternative Use
- Use
- Estimation
- NEIGHBORHOOD: SHOPPING CENTER
- $375,000 Current use
- RESTAURANT
- $1,025,000 Change: +173% Conversion: Difficult
- OFFICE BUILDING
- $785,000 Change: +109% Conversion: Moderate
- RETAIL STORES
- $410,000 Change: +9% Conversion: Easy
- AUTO REPAIR, GARAGE
- $405,000 Change: +8% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Leawood
- County
- Johnson
- State
- Kansas
- Longitude
- -94.6081
- Latitude
- 38.9097
- 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
$39,030
$223,850
$117,900
$341,750
-
$895,400
$471,600
$1,367,000
