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Property profile & analytics
OFF-MARKET
Estimated value
$550,000
Assisted living facilities
17500 119th St Olathe, KS 66061-9522
Entity Owned
8-yr Hold
Free & Clear
Property ID
US33-0771671
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
2000
Construction
FRAME
Total area
211,785 SF
Lot
35.58 ac (1,549,865 SF)
Zoning code
RP-3
APN
DP00040000 0001
UPID
US33-0771671
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
-
Discover vision Leawood Ophthalmologist
-
Emily E. Borovetz, Occupational Physician
-
Stacey Gardner Physician
-
ANN HEATHERLY Physician
-
Baston Lois Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.60M
Blend (final)
Blend
$550k
Owner & transaction history
The City Of Wichita · 8 yrs held
The City Of Wichita
since 2018
1 recorded transaction
Zoning & alternative use
RP-3 · Olathe, KS
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
This district provides for well-designed multifamily developments that emphasize open space and access to light and air. And the PD (Planned District) provides for development of office, research and development, light assembly, limited retail and service uses, and residential uses in a mixed-use setting.
Zone name
Planned Low Density Multifamily
General category
PLANNED_DEVELOPMENT
Zone area
1,111.53 ac
Source
Realmo
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
$4,605,000
Current use
Blend value · Realmo final
$550k
Range $495k – $605k · ±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
$3 / 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
$3,929
Tax year 2023
Land market value
$5,809,230
Improvement market value
$29,949,380
Total market value
$35,758,610
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
2000
Construction
FRAME
Heating
NONE
Cooling
AC.PACKAGE
Stories
2
Units
194
Total area
211,785 SF
Lot
35.58 ac (1,549,865 SF)
Zoning code
RP-3
APN
DP00040000 0001
UPID
US33-0771671
Jurisdiction
JOHNSON
Zoning & alternative use
RP-3 · Olathe, KSZoning RP-3 · permitted uses
RP-3 · Olathe, KS
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
This district provides for well-designed multifamily developments that emphasize open space and access to light and air. And the PD (Planned District) provides for development of office, research and development, light assembly, limited retail and service uses, and residential uses in a mixed-use setting.
Zone name
Planned Low Density Multifamily
General category
PLANNED_DEVELOPMENT
Zone area
1,111.53 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
Est. value
$4.6M
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
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
2000
Construction
FRAME
Heating
NONE
Cooling
Yes
Stories
2
Units
194
Lot
35.58 ac
Current owner
From public records · entity-resolved
The City Of Wichita
Entity
Free & Clear · 8 yrs held
Mailing address
455 N MAIN ST, WICHITA, KS 67202-1600
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 11, 2018
—
The City Of Wichita
Presbyterian Manors INC
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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