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    15620 W 113 St Lenexa, KS
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    15620 W 113 St Lenexa, KS

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    • Office properties & Spaces
    • 35,336 SF
    • 3.70 lot acres
    For Sale
    $1,439,082
    View Listing →
    Lenexa Land Opportunity For Sale
    $1,439,082
    3.67 Acres

    Lenexa Land Opportunity

    Land available near restaurants, shopping, and entertainment.

    15620 W 113th St, Lenexa, KS
    View Listing
    Property ID
    US33-0243679
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 15620 W 113 St

    Year built
    1995
    Lot size
    3.70 lot acres
    Property size
    35,336 SF
    Zone code
    BP2
    Property type
    Office properties & Spaces
    APN
    IP69610002 0004
    APU
    IP696100020004

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $940,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $927,000
      Market price range: $386k - $1.69M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,070,000
      Current use
      INDUSTRIAL (GENERAL)
      $1,210,000
      Change: +13% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Lenexa
    County
    Johnson
    State
    Kansas
    Longitude
    -94.7678
    Latitude
    38.9238
    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
    $113,153
    $262,130
    $605,120
    $867,250
    -
    $1,048,520
    $2,420,480
    $3,469,000

    Comparable in this City

    • Value Estimation
      $5,660,000
      236,434 SF

      8900 Renner Blvd

      OFFICE (GENERAL) • 236,434 SF
      8900 Renner Blvd, Lenexa, KS 66219-3049
      View Details
    • Value Estimation by Request
      12,725 SF

      15423 100Th Ter

      Distribution properties • 12,725 SF
      15423 100Th Ter, Lenexa, KS 66219
      View Details
    • Value Estimation by Request
      24,050 SF

      87 87Th St

      Office Units • 24,050 SF
      87 87Th St, Lenexa, KS 66219
      View Details
    • Value Estimation by Request
      19,380 SF

      8800 Renner Blvd

      Office properties & Spaces • 19,380 SF
      8800 Renner Blvd, Lenexa, KS 66219
      View Details
    • Value Estimation
      $7,645,000
      56,347 SF

      17101 87th St, Unit 101

      CONDOMINIUM OFFICES • 56,347 SF
      17101 87th St, Lenexa, KS 66219-9720
      View Details
    • Value Estimation
      $2,310,000
      131,149 SF

      16105 113th St

      OFFICE (GENERAL) • 131,149 SF
      16105 113th St, Lenexa, KS 66219-2305
      View Details

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    • Contact for pricing
      1 SF

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      69-acre mixed-use development in Johnson County, Kansas.
      87Th St Pkwy And Renner Blvd, Lenexa, KS 66219
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      36,000 SF

      Lenexa City Center Land Opportunity

      Land for office, retail, bank, or medical building development.
      88 & Renner Blvd, Lenexa, KS 66219
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      13,430 SF

      Lenexa Medical Office Building For Sale

      Single-story medical office building in Lenexa, Kansas. 100% occupied.
      8700 Bourgade St, Lenexa, KS 66219
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      12,915 SF

      Lenexa Flex Space Available

      Flex space available for sale in Lenexa, Kansas.
      9724 Legler Rd, Lenexa, KS 66219
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    • Contact for pricing

      Land For Sale

      Land available for sale.
      9300 Loiret Blvd, Lenexa, KS 66219
      View Details
    • Contact for pricing

      Lenexa Land Parcel For Sale

      Land parcel available in Lenexa, Kansas.
      16105 W 113 St, Lenexa, KS 66219
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Lenexa Office and Industrial Space

      Office and industrial space available for rent in Lenexa.
      15325 W 95Th St, Lenexa, KS 66219
      View Details
    • Contact for pricing

      Lenexa Office Space Available

      Office spaces for rent at College Boulevard, Lenexa, Kansas.
      15705-15737 College Blvd, Lenexa, KS 66219
      View Details
    • Contact for pricing

      Office Space Available for Lease

      Office space available for lease in Lenexa, Kansas.
      16025 W 113 St, Lenexa, KS 66219
      View Details
    • Contact for pricing

      Lenexa Office Sublease Opportunity

      Sublease opportunity available in Lenexa, Kansas.
      15501 College Blvd, Lenexa, KS 66219
      View Details
    • Contact for pricing

      Lenexa Office/Industrial Single Tenant Space

      Office and industrial single tenant space available for rent.
      15309 W 95Th St, Lenexa, KS 66219
      View Details
    • Contact for pricing

      Lenexa Retail and Office Space

      Retail and office spaces available for lease in Lenexa.
      87 87Th Cir, Lenexa, KS 66219
      View Details
    View Listing
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    15620 W 113 St
    Lenexa, KS
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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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