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Property profile & analytics
FOR LEASE
Strip malls
15117 W 87Th Street Pkwy Lenexa, KS 66219
Entity Owned
20-yr Hold
Free & Clear
Property ID
US33-0769755
For Lease
1 / 3
$18 SF/Yr
15117 W 87Th Street Pkwy, Lenexa, KS 66219
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1982
Construction
CONCRETE BLOCKS
Total area
20,270 SF
Lot
3.55 ac (154,638 SF)
Zoning code
CP1
APN
IP13000000 0002
UPID
US33-0769755
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.85M
Blend (final)
Blend
$1.95M
Owner & transaction history
Top29 Country Hill LLC · 20 yrs held
Top29 Country Hill LLC
since 2005
1 recorded transaction
Zoning & alternative use
CP1 · Lenexa, KS
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.8M
+101.6%
Retail stores
$1.7M
+20.9%
Auto repair, garage
$1.5M
+13.0%
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 Lenexa submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lenexa 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,365,000
Current use
OFFICE BUILDING
$2,750,000
Change: +102% · Conversion: Moderate
RETAIL STORES
$1,650,000
Change: +21% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,540,000
Change: +13% · Conversion: Difficult
Blend value · Realmo final
$1.95M
Range $1.75M – $2.14M · ±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
$96 / 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
$149,228
Tax year 2023
Assessed value
$1,280,501
Assessed 2023
Previous assessed
$1,287,250
-0.5% YoY
Effective rate
11.65%
On assessed value
Assessed land
$462,883
Assessed improvement
$817,618
Land market value
$1,851,530
Improvement market value
$3,270,470
Total market value
$5,122,000
Applied tax rate
604.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1982
Construction
CONCRETE BLOCKS
Heating
NONE
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Units
1
Total area
20,270 SF
Lot
3.55 ac (154,638 SF)
Zoning code
CP1
APN
IP13000000 0002
UPID
US33-0769755
Jurisdiction
JOHNSON
Zoning & alternative use
CP1 · Lenexa, KS
Zoning CP1 · permitted uses
CP1 · Lenexa, KS
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lenexa. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.4M
OFFICE BUILDING
Est. value
$2.8M
RETAIL STORES
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$1.5M
NEIGHBORHOOD: SHOPPING CENTER Current
OFFICE BUILDING
RETAIL STORES
AUTO REPAIR, GARAGE
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
1982
Construction
CONCRETE BLOCKS
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Units
1
Lot
3.55 ac
Current owner
From public records · entity-resolved
Top29 Country Hill LLC
Entity
Free & Clear · 20 yrs held
Mailing address
605 W 47TH ST STE #100, KANSAS CITY, MO 64112-1905
Ownership since
2005
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
Oct 31, 2005
—
Top29 Country Hill LLC
Coutry Hill Center Associates
Special Warranty Deed
—
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?”
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