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Property profile & analytics
OFF-MARKET
Estimated value
$500,000
Warehouses
1708 123rd St Olathe, KS 66061-5882
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US33-0265520
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1993
Construction
FRAME
Total area
7,920 SF
Lot
0.69 ac (30,057 SF)
Zoning code
M2
APN
DP66450000 0014
UPID
US33-0265520
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
Current use
Occupant on record · Public records
-
Neighbors Construction Company, Inc. Construction Company
-
Crystal Duct Cleaning Services Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$450k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$552k
Blend (final)
Blend
$500k
Owner & transaction history
Neighbors Construction Co INC · 4 yrs held
Neighbors Construction Co INC
since 2021
4 recorded transactions
Zoning & alternative use
M2 · Olathe, KS
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$645,000
+59.9%
Auto repair, garage
$610,000
+51.1%
Industrial (general)
$580,000
+43.3%
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
$450,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$405,000
Current use
COMMERCIAL (GENERAL)
$645,000
Change: +60% · Conversion: Difficult
AUTO REPAIR, GARAGE
$610,000
Change: +51% · Conversion: Easy
INDUSTRIAL (GENERAL)
$580,000
Change: +43% · Conversion: Easy
RETAIL STORES
$565,000
Change: +40% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$550,000
Change: +36% · Conversion: Moderate
Blend value · Realmo final
$500k
Range $450k – $550k · ±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
$63 / 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
$23,550
Tax year 2023
Assessed value
$201,250
Assessed 2023
Previous assessed
$196,501
+2.4% YoY
Effective rate
11.70%
On assessed value
Assessed land
$37,575
Assessed improvement
$163,675
Land market value
$150,300
Improvement market value
$654,700
Total market value
$805,000
Applied tax rate
611.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1993
Construction
FRAME
Heating
SPACE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
7,920 SF
Lot
0.69 ac (30,057 SF)
Zoning code
M2
APN
DP66450000 0014
UPID
US33-0265520
Jurisdiction
JOHNSON
Zoning & alternative use
M2 · Olathe, KS
Zoning M2 · permitted uses
M2 · 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
WAREHOUSE, STORAGE Current
Est. value
$405,000
COMMERCIAL (GENERAL)
Est. value
$645,000
AUTO REPAIR, GARAGE
Est. value
$610,000
INDUSTRIAL (GENERAL)
Est. value
$580,000
RETAIL STORES
Est. value
$565,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$550,000
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
1993
Construction
FRAME
Heating
SPACE
Cooling
Yes
Stories
1
Units
1
Lot
0.69 ac
Current owner
From public records · entity-resolved
Neighbors Construction Co INC
Entity
Mailing address
15226 W 87TH ST PKWY, LENEXA, KS 66219-1429
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 5, 2022
—
Johnson And White Properties LLC
—
Deed
related
$850,000 · Bank Of The West
Nov 16, 2021
—
Neighbors Construction Co INC
1708 East 123rd Street LLC
Special Warranty Deed
$600,000 · Visionbank Of Iowa
Dec 17, 2020
—
1708 East 123rd Street LLC
—
Deed
related
$664,000 · Crossfirst Bank
Jul 22, 2019
—
1708 East 123rd Street LLC
—
Deed
related
$90,000 · Labette Bank
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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