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

    13240 87th St Pkwy Lenexa, KS 66215-4534

    • Community centers
    • 5,670 SF
    • 10.86 lot acres
    OFF-MARKET
    Value Estimations
    $710,000
    Show details
    Cap Rate Potential
    8.3%
    Community centers
    Location Intelligence
    Property ID
    US33-0321467
    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

    • Community centers

    Property Details for 13240 87th St Pkwy

    Year built
    1997
    Construction
    CONCRETE BLOCKS
    Lot size
    10.86 lot acres
    Property size
    5,670 SF
    Zone code
    CP2
    Property type
    Community centers
    APN
    IF241227-2033
    APU
    IF2412272033

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $710,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $980,000
      6.5%
      $905,000
      7%
      $840,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $521,000
      Market price range: $226k - $521k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $985,000
      OFFICE BUILDING
      $950,000
      RETAIL STORES
      $490,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Lenexa
    County
    Johnson
    State
    Kansas
    Longitude
    -94.7406
    Latitude
    38.9721
    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
    $352,448
    $808,793
    $2,186,458
    $2,995,251
    -
    $3,235,170
    $8,745,830
    $11,981,000

    Comparable in this City

    • Value Estimation
      $1,380,000
      113,297 SF

      9650 Quivira Rd

      MINI-MALL • 113,297 SF
      9650 Quivira Rd, Lenexa, KS 66215-1669
      View Details
    • Value Estimation by Request
      65,216 SF

      9301-9331 Quivira Rd

      Lifestyle centers • 65,216 SF
      9301-9331 Quivira Rd, Overland Park, KS 66215
      View Details
    • Value Estimation
      $1,460,000
      77,495 SF

      9540 Quivira Rd

      MINI-MALL • 77,495 SF
      9540 Quivira Rd, Lenexa, KS 66215-1670
      View Details
    • Value Estimation
      $1,180,000
      34,791 SF

      12100 95th St

      MINI-MALL • 34,791 SF
      12100 95th St, Lenexa, KS 66215
      View Details
    • Value Estimation
      $300,000
      0.38 Acres

      Lenexa, KS 66215

      MINI-MALL • 0.38 Acres
      Lenexa, KS 66215
      View Details
    • Value Estimation
      $1,405,000
      87,420 SF

      12010 95th St

      MINI-MALL • 87,420 SF
      12010 95th St, Lenexa, KS 66215-3803
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      65,216 SF

      Prime Retail Investment Opportunity

      KS Shopping Center - 65,216 SF
      9301-9331 Quivira Rd, Overland Park, KS 66215
      View Details
    • $415,000
      0.53 Acres

      Lenexa Commercial Space with Potential

      Commercial space in Lenexa, zoned CP1, with business and residential potential.
      10200 Pflumm Rd, Lenexa, KS 66215
      View Details
    • $1,500,000
      8,000 SF

      Lenexa Medical/Office Investment Opportunity

      Medical and office property for sale in Lenexa, Kansas.
      8650 Candlelight Ln, Lenexa, KS 66215
      View Details
    • $150,000

      Lenexa Hookah Lounge Business

      Turnkey hookah café, high ROI potential.
      12235 87Th Street Pkwy, Lenexa, KS 66215
      View Details
    • $419,000

      Luxury Lenexa Estate Lot

      Prime residential land, lake views, gated community
      8305 Maplewood Ln, Lenexa, KS 66215
      View Details
    • $284,500
      1,484 SF

      Updated Duplex on Corner Lot

      Updated Lenexa duplex with green space, modern amenities, and convenience.
      14101 W 88Th Pl, Lenexa, KS 66215
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,171 SF

      Retail Space in Lenexa Center

      Retail space available in a busy Lenexa shopping center.
      13450 W 87Th Street Pkwy, Lenexa, KS 66215
      View Details
    • Contact for pricing
      1,875 SF

      Retail Space in Lenexa, Kansas

      Retail space available in Lenexa, Kansas near major highways.
      13240-13400 W 87Th Street Pkwy, Lenexa, KS 66215
      View Details
    • $30 SF/Yr
      1,042 SF

      Lenexa Retail Space For Rent

      Retail space available in a premier Kansas City shopping center.
      9660-9676 Quivira Rd, Lenexa, KS 66215
      View Details
    • Contact for pricing
      1,066 SF

      Lenexa Retail Space For Lease

      Retail space in Lenexa, anchored by Hy-Vee and national retailers.
      13120-13450 Hauser St, Lenexa, KS 66215
      View Details
    • $30 SF/Yr
      203,080 SF

      Lenexa Retail Power Center

      High-traffic retail space available.
      9510-9676 Quivira Rd, Lenexa, KS 66215
      View Details
    • $30 SF/Yr
      4,500 SF

      Premier Community Shopping Center Space

      Located in a dominant retail corridor with superb demographics.
      9510-9596 Quivira Rd, Lenexa, KS 66215
      View Details
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    Lenexa, KS 66215-4534
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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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