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    16201 87th St Pkwy Lenexa, KS 66219-9711
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    Property profile & analytics

    16201 87th St Pkwy, Lenexa, KS 66219-9711

    View on Map
    • Strip malls
    • 6,936 SF
    Off-Market
    Last Sale Mar 1, 2021
    Property ID
    US33-1668103
    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

    • Strip malls

    Property Details for 16201 87th St Pkwy

    Year built
    2022
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    IP69300000 0010
    APU
    IP693000000010

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 1, 2021 — Sonoma Properties LLC Sonoma Plaza INC Intrafamily Transfer · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lenexa
    County
    Johnson
    State
    Kansas
    Longitude
    -94.7732
    Latitude
    38.9709
    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
    $39,702
    $93,368
    $105,388
    $198,756
    -
    $373,470
    $421,550
    $795,020

    Comparable in this City

    • Value Estimation
      $555,000
      6,064 SF

      16171 87th St

      SHOPPING CENTER, STRIP CENTER
      16171 87th St, Lenexa, KS 66219-9726
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    • Value Estimation
      $685,000
      8,273 SF

      16111 87th Ter

      SHOPPING CENTER, STRIP CENTER
      16111 87th Ter, Lenexa, KS 66219-2765
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    • Value Estimation
      $670,000
      7,138 SF

      8742 Loiret Blvd

      SHOPPING CENTER, STRIP CENTER
      8742 Loiret Blvd, Lenexa, KS 66219-2187
      View Details
    • Value Estimation
      $995,000
      14,212 SF

      9450 Renner Blvd

      SHOPPING CENTER, STRIP CENTER
      9450 Renner Blvd, Lenexa, KS 66219
      View Details
    • Value Estimation
      $660,000
      4,278 SF

      16101 87th St

      SHOPPING CENTER, STRIP CENTER
      16101 87th St, Lenexa, KS 66219-9726
      View Details
    • Value Estimation
      $710,000
      11,055 SF

      15601 87th St Pkwy

      SHOPPING CENTER, STRIP CENTER
      15601 87th St Pkwy, Lenexa, KS 66219-1435
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1 SF

      City Center Lenexa Mixed-Use Development

      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.
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    • $2,500,000
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      Lenexa Land Opportunity

      9 acres of land available in Lenexa, Kansas.
      9300 Loiret Blvd, Lenexa, KS 66219
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      64,480 SF

      Lenexa Land Parcel For Sale

      Land parcel suitable for a 64,480 SF Flex Building.
      17002 College Cir, Lenexa, KS 66219
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      72,000 SF

      Lenexa Land for Industrial Building

      Land suitable for a 72,000 SF Industrial/Flex building.
      11300 Britton St, Lenexa, KS 66219
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      72,000 SF

      Lenexa Warehouse Space Available

      72,000 square foot warehouse in Lenexa, Kansas for sale.
      16800 W 113 St, Lenexa, KS 66219
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    Similar Nearby for Lease

    • Contact for pricing
      5,800 SF

      Retail and Restaurant Space Available

      Retail and restaurant spaces for lease with strong demographics.
      8875 Maurer Ct, Lenexa, KS 66219
      View Details
    • Contact for pricing
      5,000 SF

      Restaurant Space in Lenexa, Kansas

      Turn-key restaurant space in a busy, highly occupied shopping center.
      15117 W 87Th Street Pkwy, Lenexa, KS 66219
      View Details
    • Contact for pricing
      1,800 SF

      Lenexa Retail Space with Drive-Thru

      Freestanding retail buildings with drive-thru, near K-10 and Ridgeview.
      18259 W 101 St, Lenexa, KS 66219
      View Details
    • Contact for pricing
      4,000 SF

      Retail Space in Lenexa

      Retail space available in high-image, mixed-use Lenexa development.
      15911 W 87Th Street Pkwy, 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
    • Contact for pricing

      Lenexa Retail/Office/Restaurant Space Available

      Retail, office, and restaurant spaces available for lease.
      87 & Renner Blvd, Lenexa, KS 66219
      View Details
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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.

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