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

    15075 116th St Olathe, KS 66062-1098

    • Distribution centers
    • 10,000 SF
    • 1.07 lot acres
    OFF-MARKET
    Last Sale
    Jan 26, 2023
    Value Estimations
    $505,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US33-0253545
    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

    • KC Barnstormers / Baseball Club
    • Tom's Automobile Repair Inc / Muffler Shop / Wheel Alignment Service
    • Intoxalock Ignition Interlock / Car Inspection Station / Safety Equipment Supplier

    Property Details for 15075 116th St

    Year built
    1991
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.07 lot acres
    Property size
    10,000 SF
    Zone code
    M-1
    Property type
    Distribution centers
    APN
    DP78570000 0009B
    APU
    DP785700000009B

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $545,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $465,000
      Market price range: $353k - $575k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $450,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $685,000
      Change: +53% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $675,000
      Change: +50% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $665,000
      Change: +48% Conversion: Easy
      RETAIL STORES
      $585,000
      Change: +31% Conversion: Moderate
      INDUSTRIAL (GENERAL)
      $450,000
      Change: +1% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Olathe
    County
    Johnson
    State
    Kansas
    Longitude
    -94.7589
    Latitude
    38.9181
    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
    $23,052
    $40,915
    $156,085
    $197,000
    -
    $163,660
    $624,340
    $788,000

    Comparable in this City

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      0.42 Acres

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      DISTRIBUTION WAREHOUSE • 0.42 Acres
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    • Value Estimation
      $620,000
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      DISTRIBUTION WAREHOUSE • 16,278 SF
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    • Value Estimation by Request
      499,084 SF

      16231 Lone Elm Rd

      DISTRIBUTION WAREHOUSE • 499,084 SF
      16231 Lone Elm Rd, Olathe, KS 66062-9237
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    • Value Estimation
      $1,005,000
      527,356 SF

      700 151st St

      DISTRIBUTION WAREHOUSE • 527,356 SF
      700 151st St, Olathe, KS 66062-3400
      View Details
    • Value Estimation
      $510,000
      5,200 SF

      2019 Spruce Cir

      DISTRIBUTION WAREHOUSE • 5,200 SF
      2019 Spruce Cir, Olathe, KS 66062-5404
      View Details
    • Value Estimation
      $230,000
      4,700 SF

      15347 Us 169th Hwy

      DISTRIBUTION WAREHOUSE • 4,700 SF
      15347 Us 169th Hwy, Olathe, KS 66062-3403
      View Details

    Similar Nearby for Sale

    • $1,500,000

      Olathe Industrial Warehouse - $1.5M

      Vacant warehouse, manufacturing space, high visibility.
      19350 159Th 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
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    • $1,500,000

      Olathe Industrial Land Investment Opportunity

      Prime M-2 Zoned Land, High Visibility
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      Olathe Commercial Land - Prime Location

      High-visibility land, divisible parcels, immediate availability.
      0 Ridgeview Rd, Olathe, KS 66062
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    • $1,500,000
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      Executive Plaza Lot 9, Olathe, KS

      1.5-Acre Commercial Land, Prime Location
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      0.73 Acres

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      Overland Park commercial land, prime location.
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    Similar Nearby for Lease

    • $10 SF/Yr
      8,400 SF

      New Century Business Park Flex Space

      Modern Olathe flex/warehouse space available.
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      View Details
    • Contact for pricing
      200,194 SF

      Lone Elm Commerce Center - Building 5

      Olathe, KS Warehouse - Under Construction
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      View Details
    • $7 SF/Yr
      134,643 SF

      Lone Elm Commerce Center: Building 3

      Olathe, KS Warehouse - Available Now
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      View Details
    • Contact for pricing
      1,071,139 SF

      Olathe Warehouse Space Available

      Large warehouse space available for lease in Olathe, Kansas.
      17320 S Hedge Ln, Olathe, KS 66062
      View Details
    • Contact for pricing
      78,412 SF

      Olathe Warehouse Space Available

      78,412 SF warehouse space for lease in Olathe.
      21100 West 159Th St, Olathe, KS 66062
      View Details
    • Contact for pricing
      1,004,380 SF

      Olathe Warehouse Space Available

      Large industrial warehouse space available for lease in Olathe.
      20061-19951 W 162Nd St, Olathe, KS 66062
      View Details
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    Olathe, KS 66062-1098
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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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