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    12195 Strang Line Rd Olathe, KS 66062-5220

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    12195 Strang Line Rd Olathe, KS 66062-5220

    View on Map
    • Drive through restaurants
    • 4,049 SF
    • 1.15 lot acres
    Off-Market
    Last Sale Jul 17, 2025
    Property ID
    US33-1570191
    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.
    Value Estimations
    $690,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Zaxby's Chicken Fingers & Buffalo Wings / Take-out & Catering / Catering Service

    Property Details for 12195 Strang Line Rd

    Year built
    2016
    Construction
    FRAME
    Lot size
    1.15 lot acres
    Property size
    4,049 SF
    Property type
    Drive through restaurants
    APN
    DP68130000 0002
    APU
    DP681300000002

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $515,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $867,000
      Market price range: $526k - $1.04M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $810,000
      Current use
      OFFICE BUILDING
      $755,000
      Change: -7% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Olathe
    County
    Johnson
    State
    Kansas
    Longitude
    -94.7746
    Latitude
    38.9086
    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
    $59,415
    $287,810
    $219,940
    $507,750
    -
    $1,151,240
    $879,760
    $2,031,000

    Comparable in this City

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    • Value Estimation
      $720,000
      4,695 SF

      12091 Strang Line Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,695 SF
      12091 Strang Line Rd, Olathe, KS 66062-5207
      View Details

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    • $3,000,000
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    Similar Nearby for Lease

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      Freestanding Drive-Thru Restaurant Space

      3,315 SF freestanding building with drive-thru available for lease.
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      7,000 SF

      Restaurant/Retail Space in High-Traffic Area

      7,000 SF restaurant/retail space in a super regional trade area.
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      Retail and Office Spaces Available

      Retail and office spaces available in high-traffic Olathe location.
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      Olathe Retail Space for Lease

      Retail space available for lease at 119th Street & I-35.
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      View Details
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      3,315 SF

      Former Restaurant Space Available

      Restaurant/retail space in high-traffic area near major retailers.
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      View Details
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    Olathe, KS 66062-5220
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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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