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Property profile & analytics
OFF-MARKET
Estimated value
$3,670,000
Office Spaces
16649 151st St Olathe, KS 66062
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US33-0598971
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1986
Construction
FRAME
Total area
15,440 SF
Lot
2.34 ac (101,930 SF)
Zoning code
SU
APN
DP31400000 0004
UPID
US33-0598971
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
$3.49M
Comparable Approach
Comparable
$3.85M
Blend (final)
Blend
$3.67M
Owner & transaction history
M151 LLC · 1 yrs held
M151 LLC
since 2024
2 recorded transactions
Zoning & alternative use
SU · Olathe, KS
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.1M
+7.4%
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 Olathe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Olathe 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%
$3,780,000
6.5%
$3,490,000
7%
$3,240,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,870,000
Current use
RESTAURANT
$3,085,000
Change: +7% · Conversion: Moderate
Blend value · Realmo final
$3.67M
Range $3.30M – $4.04M · ±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
$238 / 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
$72,258
Tax year 2023
Assessed value
$617,500
Assessed 2023
Previous assessed
$617,500
+0.0% YoY
Effective rate
11.70%
On assessed value
Assessed land
$229,220
Assessed improvement
$388,280
Land market value
$916,880
Improvement market value
$1,553,120
Total market value
$2,470,000
Applied tax rate
612.0000
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
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1986
Construction
FRAME
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
15,440 SF
Lot
2.34 ac (101,930 SF)
Zoning code
SU
APN
DP31400000 0004
UPID
US33-0598971
Jurisdiction
JOHNSON
Zoning & alternative use
SU · Olathe, KS
Zoning SU · permitted uses
SU · Olathe, KS
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Olathe. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.9M
RESTAURANT
Est. value
$3.1M
OFFICE BUILDING Current
RESTAURANT
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
FRAME
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
2.34 ac
Current owner
From public records · entity-resolved
M151 LLC
Entity
Mailing address
9007 W 158TH TER, OVERLAND PARK, KS 66221-7587
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Sep 11, 2024
—
M151 LLC
Pe Heritage LLC
Special Warranty Deed
$1,625,000 · Bokf NA
Feb 1, 2017
—
Cre Heritage Square LLC
Heritage Square LLC
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.
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