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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    12221 Strang Line Rd Olathe, KS 66062-5224

    • Drive through restaurants
    • 3,241 SF
    • 1.15 lot acres
    OFF-MARKET
    Value Estimations
    $565,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US33-0494823
    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.

    Current Use by Public Records

    • Schlotzsky's / Take-out & Catering

    Property Details for 12221 Strang Line Rd

    Year built
    1998
    Construction
    FRAME
    Lot size
    1.15 lot acres
    Property size
    3,241 SF
    Zone code
    C-3
    Property type
    Drive through restaurants
    APN
    DP68110000 0003
    APU
    DP681100000003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $530,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $597,000
      Market price range: $421k - $836k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $645,000
      Current use
      OFFICE BUILDING
      $605,000
      Change: -7% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Olathe
    County
    Johnson
    State
    Kansas
    Longitude
    -94.7758
    Latitude
    38.9076
    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
    $40,898
    $181,418
    $168,083
    $349,501
    -
    $725,670
    $672,330
    $1,398,000

    Comparable in this City

    • Value Estimation by Request
      360 SF

      2027 Santa Fe St

      DRIVE-THRU RESTAURANT, FAST FOOD • 360 SF
      2027 Santa Fe St, Olathe, KS 66062-1608
      View Details
    • Value Estimation by Request
      1,974 SF

      16600 135th St

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,974 SF
      16600 135th St, Olathe, KS 66062-1543
      View Details
    • Value Estimation
      $590,000
      2,876 SF

      12075 Blackbob Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,876 SF
      12075 Blackbob Rd, Olathe, KS 66062-1012
      View Details
    • Value Estimation by Request
      2,714 SF

      13385 Blackbob Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,714 SF
      13385 Blackbob Rd, Olathe, KS 66062-1504
      View Details
    • Value Estimation
      $540,000
      2,484 SF

      11996 Strang Line Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,484 SF
      11996 Strang Line Rd, Olathe, KS 66062-5267
      View Details
    • 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

    Similar Nearby for Sale

    • $2,300,000
      3,381 SF

      New Drive-Through Restaurant Opportunity

      New construction drive-through restaurant in growing Kansas City suburb.
      14123 W 135Th St, Olathe, KS 66062
      View Details
    • Contact for pricing
      35.53 Acres

      Olathe Industrial Land for Sale

      Prime Olathe location, build-to-suit options.
      16425 Us 169 Hwy, Olathe, KS 66062
      View Details
    • $5,550,000
      13.50 Acres

      K-10 Commerce Centre: Olathe, KS

      Retail & Land Development Opportunity
      11000 Monticello Ter, Olathe, KS 66062
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    • $2,850,000
      7,662 SF

      Retail Space in Power Center

      Retail space with strong corporate guaranty and highway access.
      11981 S Strang Line Rd, Olathe, KS 66062
      View Details
    • New
      $3,000,000
      6.60 Acres

      Olathe Mixed-Use Development Opportunity

      9-acre mixed-use property near 151st and Mur Len Road.
      151 151St St, Olathe, KS 66062
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    • Contact for pricing
      2,200 SF

      Olathe Retail Space: Hy-Vee Center

      High-traffic retail space near Hy-Vee.
      0 151St St, Olathe, KS 66062
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    Similar Nearby for Lease

    • Contact for pricing
      5 SF

      Restaurant Opportunity on 119th Street

      Fully equipped restaurant space with high traffic frontage available for lease.
      14904 W 119Th St, Olathe, KS 66062
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    • Contact for pricing
      3,315 SF

      Former Restaurant Space Available

      Restaurant/retail space in high-traffic area near major retailers.
      13790 S Blackbob Rd, Olathe, KS 66062
      View Details
    • Contact for pricing
      7,000 SF

      Olathe Retail Center - I-35 Access

      Prime Olathe location, 7,000 sq ft available.
      & I-35 119Th St, Olathe, KS 66062
      View Details
    • Contact for pricing
      7,000 SF

      Restaurant/Retail Space in High-Traffic Area

      7,000 SF restaurant/retail space in a super regional trade area.
      12027 S Strang Line Rd, Olathe, KS 66062
      View Details
    • Contact for pricing
      472,771 SF

      K-10 Commerce Centre: Olathe Land

      Prime Olathe retail development land, 30 acres.
      11000 Monticello Ter, Olathe, KS 66062
      View Details
    • Contact for pricing
      1 SF

      Olathe Retail Land Opportunity

      Multiple Spaces, 1-6 Acres Available
      151 151St St, Olathe, KS 66062
      View Details

    Property Visit Statistics

    • Visits by month
      7.9k
    • Visitors by month
      5.8k
    • Avg Time on site
      22 min
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    12221 Strang Line Rd
    Olathe, KS 66062-5224
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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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