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    128 Harvest Dr Louisburg, KS 66053-4081
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    Property profile & analytics

    128 Harvest Dr, Louisburg, KS 66053-4081

    View on Map
    • Strip malls
    • 23,082 SF
    • 2.83 lot acres
    Off-Market
    Property ID
    US33-1236668
    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
    $730,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Jabez Tanning Salon & Dawn's Heavenly Concept Salon / Hair Salon / Nail Salon
    • Jabez Tanning Salon & Boutique / Hair Salon / Nail Salon
    • Jabez Tanning Salon / Tanning Salon

    Property Details for 128 Harvest Dr

    Year built
    2003
    Lot size
    2.83 lot acres
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    109-32-0-00-00-001.82-0
    APU
    1093200000001820

    Description

    The Louisburg Marketplace, a single-story, Class B shopping center totaling 23,082 square feet, presents a unique opportunity for retail businesses. Located in Miami County and easily accessible via Harvest Dr, this 2.84-acre property boasts 70 surface parking spaces, ensuring ample customer convenience. Built in 2004, the center currently features 14 suites, with a significant 16,800 square feet of contiguous space immediately available for lease. This space is offered as a "white box," allowing for complete customization to suit your specific business needs. The minimum leasable space is 1,400 square feet, providing flexibility for various retail concepts. The property is zoned C-3, accommodating a wide range of retail uses. Excitingly, a new restaurant and True Value Hardware are joining the center, creating a vibrant and growing retail environment. The available space is particularly well-suited for businesses such as chiropractors, barber shops, medical offices, and other retail establishments. This is an exceptional opportunity to establish or expand your business in a thriving retail location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $605,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $852,000
      Market price range: $853k - $1.67M

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

    Location Insight

    • Map
    • Local Demand
    City
    Louisburg
    County
    Miami
    State
    Kansas
    Longitude
    -94.6615
    Latitude
    38.6198
    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
    2022
    $12,823
    $39,400
    $78,125
    $117,525
    -
    $157,600
    $312,500
    $470,100

    Comparable in this City

    • Value Estimation by Request
      2,580 SF

      102 Metcalf Rd

      SHOPPING CENTER, STRIP CENTER
      102 Metcalf Rd, Louisburg, KS 66053-4101
      View Details
    • Value Estimation
      $820,000
      23,958 SF

      124 Fairlane Dr

      SHOPPING CENTER, STRIP CENTER
      124 Fairlane Dr, Louisburg, KS 66053-5500
      View Details
    • Value Estimation by Request
      7,200 SF

      415 Metcalf Rd

      SHOPPING CENTER, STRIP CENTER
      415 Metcalf Rd, Louisburg, KS 66053-4033
      View Details
    • Value Estimation by Request
      5,110 SF

      2 Amity St

      SHOPPING CENTER, STRIP CENTER
      2 Amity St, Louisburg, KS 66053-4072
      View Details
    • Value Estimation by Request
      3,178 SF

      104 Harvest Dr

      SHOPPING CENTER, STRIP CENTER
      104 Harvest Dr, Louisburg, KS 66053-4081
      View Details
    • Value Estimation
      $1,145,000
      37,275 SF

      1220 Amity St

      SHOPPING CENTER, STRIP CENTER
      1220 Amity St, Louisburg, KS 66053-7815
      View Details

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    Louisburg, KS 66053-4081
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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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