Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,165,000
Garden apartment buildings
12210 Strang Line Ct Olathe, KS 66062-5823
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US33-0189552
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1995
Construction
FRAME
Total area
27,776 SF
Lot
10.16 ac (442,570 SF)
Zoning code
RP3
APN
DP36720000 0001
UPID
US33-0189552
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
-
Steve Thompson Photography Film Production Television Studio
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$855k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.47M
Blend (final)
Blend
$1.17M
Owner & transaction history
Tpaf IV Olathe LLC · 12 yrs held
Tpaf IV Olathe LLC
since 2013
1 recorded transaction
Zoning & alternative use
RP3 · Olathe, KS
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.9M
+86.0%
Commercial (general)
$1.9M
+82.2%
Auto repair, garage
$1.8M
+79.5%
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
$855,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,025,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,905,000
Change: +86% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,870,000
Change: +82% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,840,000
Change: +79% · Conversion: Difficult
RETAIL STORES
$1,625,000
Change: +59% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,255,000
Change: +22% · Conversion: Difficult
Blend value · Realmo final
$1.17M
Range $1.05M – $1.28M · ±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
$42 / 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
$224,110
Tax year 2023
Assessed value
$1,916,015
Assessed 2023
Previous assessed
$1,814,240
+5.6% YoY
Effective rate
11.70%
On assessed value
Assessed land
$190,936
Assessed improvement
$1,725,079
Land market value
$1,660,310
Improvement market value
$15,000,690
Total market value
$16,661,000
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1995
Construction
FRAME
Heating
NONE
Cooling
AC.PACKAGE
Buildings
5
Stories
2
Units
16
Bathrooms
4
Total area
27,776 SF
Lot
10.16 ac (442,570 SF)
Zoning code
RP3
APN
DP36720000 0001
UPID
US33-0189552
Jurisdiction
JOHNSON
Zoning & alternative use
RP3 · Olathe, KS
Zoning RP3 · permitted uses
RP3 · 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$1.9M
AUTO REPAIR, GARAGE
Est. value
$1.8M
RETAIL STORES
Est. value
$1.6M
INDUSTRIAL (GENERAL)
Est. value
$1.3M
APARTMENT HOUSE (5+ UNITS) Current
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
INDUSTRIAL (GENERAL)
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
1995
Construction
FRAME
Heating
NONE
Cooling
Yes
Stories
2
Buildings
5
Units
16
Bathrooms
4
Lot
10.16 ac
Current owner
From public records · entity-resolved
Tpaf IV Olathe LLC
Entity
Mailing address
8500 NORMANDALE LK BLVD STE #750, MINNEAPOLIS, MN 55437-3820
Ownership since
2013
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
Dec 24, 2013
$8,775,000
Tpaf IV Olathe LLC
Olathe Leased Housing Associates II
Warranty Deed
$6,925,000 · Bmo Harris Bank NA
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?”
You own 12210 Strang Line Ct?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
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.
