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Property profile & analytics
OFF-MARKET
Estimated value
$690,000
Drive through restaurants
12195 Strang Line Rd Olathe, KS 66062-5220
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US33-1570191
Property summary
AI-generated overview
This exceptional 4,049-square-foot retail building is situated on a 1.15-acre lot (50,054 square feet) in Olathe, Kansas, at 12195 Strang Line Road, zip code 66062. Built in 2016, the property boasts a convenient C-2 zoning designation, allowing for a variety of commercial uses. The building previously housed a Zaxby's restaurant and features a valuable drive-thru lane, a significant asset for many retail businesses. Ample parking is provided with 52 dedicated stalls. The asking price is $1,650,000. The lease type is NNN, and a lease rate of $55 per square foot plus NNN charges is available. This high-visibility location in Johnson County offers excellent potential for a variety of retail businesses seeking a well-maintained, modern space with a proven track record. The property's size and features make it an attractive investment opportunity. The property is located at 38.9085927 latitude and -94.7745387 longitude.
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
2016
Construction
FRAME
Total area
4,049 SF
Lot
1.15 ac (50,054 SF)
APN
DP68130000 0002
UPID
US33-1570191
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
-
Zaxby's Chicken Fingers & Buffalo Wings Take-out & Catering Catering Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$515k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$868k
Blend (final)
Blend
$690k
Owner & transaction history
Pegasus Realty LLC · 1 yrs held
Pegasus Realty LLC
since 2025
2 recorded transactions
Zoning & alternative use
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
$515,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$810,000
Current use
OFFICE BUILDING
$755,000
Change: -7% · Conversion: Moderate
Blend value · Realmo final
$690k
Range $621k – $759k · ±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
$170 / 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
$59,415
Tax year 2023
Assessed value
$507,750
Assessed 2023
Previous assessed
$439,250
+15.6% YoY
Effective rate
11.70%
On assessed value
Assessed land
$287,810
Assessed improvement
$219,940
Land market value
$1,151,240
Improvement market value
$879,760
Total market value
$2,031,000
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
Off-Market
Year built
2016
Construction
FRAME
Heating
YES
Cooling
YES
Stories
1
Total area
4,049 SF
Lot
1.15 ac (50,054 SF)
APN
DP68130000 0002
UPID
US33-1570191
Jurisdiction
JOHNSON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$810,000
OFFICE BUILDING
Est. value
$755,000
RESTAURANT Current
OFFICE BUILDING
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
2016
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Lot
1.15 ac
Current owner
From public records · entity-resolved
Pegasus Realty LLC
Entity
Mailing address
PO BOX 429, BOSTWICK, GA 30623-0429
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 17, 2025
—
Pegasus Realty LLC
Royal Chicken Holdings LLC
Special Warranty Deed
$1,000,000 · Country Club Bank
Jun 9, 2016
—
Royal Chicken Holdings LLC
Jmta Management 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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