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Property profile & analytics
FOR LEASE
Office Spaces
15501 College Blvd Lenexa, KS 66219
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US33-0588061
For Lease
1 / 2
$20 SF/Yr
15501 College Blvd, Lenexa, KS 66219
View Listing →
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1986
Construction
CONCRETE
Total area
44,167 SF
Lot
5.03 ac (219,107 SF)
Zoning code
MP
APN
IP69600000 0001B
UPID
US33-0588061
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
$990k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.06M
Blend (final)
Blend
$1.03M
Owner & transaction history
Southlake Investment Spe LLC · 7 yrs held
Southlake Investment Spe LLC
since 2019
2 recorded transactions
Zoning & alternative use
MP · Lenexa, KS
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$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
$990,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,340,000
Current use
INDUSTRIAL (GENERAL)
$1,510,000
Change: +13% · Conversion: Moderate
Blend value · Realmo final
$1.03M
Range $923k – $1.13M · ±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
$23 / 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
$129,425
Tax year 2023
Assessed value
$992,250
Assessed 2023
Previous assessed
$1,062,251
-6.6% YoY
Effective rate
13.04%
On assessed value
Assessed land
$273,905
Assessed improvement
$718,345
Land market value
$1,095,620
Improvement market value
$2,873,380
Total market value
$3,969,000
Applied tax rate
607.0000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
For Lease
Year built
1986
Construction
CONCRETE
Heating
SPACE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
44,167 SF
Lot
5.03 ac (219,107 SF)
Zoning code
MP
APN
IP69600000 0001B
UPID
US33-0588061
Jurisdiction
JOHNSON
Zoning & alternative use
MP · Lenexa, KS
Zoning MP · permitted uses
MP · 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
COMMERCIAL (GENERAL) Current
Est. value
$1.3M
INDUSTRIAL (GENERAL)
Est. value
$1.5M
COMMERCIAL (GENERAL) Current
INDUSTRIAL (GENERAL)
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
1986
Construction
CONCRETE
Heating
SPACE
Cooling
Yes
Stories
1
Units
1
Lot
5.03 ac
Current owner
From public records · entity-resolved
Southlake Investment Spe LLC
Entity
Mailing address
PO BOX 241468, OMAHA, NE 68124-5468
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 24, 2019
—
Southlake Investment Spe LLC
Lenexa Real Estate Portfolio Partne
Special Warranty Deed
$57,000,000 · Morgan Stanley Bank NA
Dec 30, 2013
—
Lenexa Real Estate Portfolio Partne
Hrpt Lenexa Properties Trust
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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