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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1815 Spruce St Olathe, KS 66062-1254

    • Warehouses
    • 4,000 SF
    • 0.44 lot acres
    OFF-MARKET
    Value Estimations
    $255,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US33-0697802
    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.

    Current Use by Public Records

    • Warehouses

    Property Details for 1815 Spruce St

    Year built
    1966
    Construction
    STEEL FRAME
    Lot size
    0.44 lot acres
    Property size
    4,000 SF
    Zone code
    M2
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    DP76000000 0003A
    APU
    DP760000000003A

    Description

    This exceptional 6,229-square-foot industrial property, situated on a 0.44-acre lot in Olathe, Kansas, presents a compelling investment opportunity. The single-story building, constructed in 1966, boasts a flexible design suitable for various warehouse and flex-space uses. Its zoning designation is M-2, allowing for a range of industrial activities. The property features one dock-high door, facilitating efficient loading and unloading of goods. Located at 1815 E Spruce St, Olathe, KS 66062, this warehouse enjoys convenient access to Interstate 35, providing seamless connectivity to major transportation routes. The asking price is $595,000, translating to a price per square foot of $95.52. The property's strategic location offers proximity to a wealth of supporting services and amenities, enhancing its operational efficiency and appeal. This stand-alone warehouse represents a rare opportunity to acquire a well-positioned industrial asset in a thriving Kansas market. The property's solid construction and functional layout make it an ideal choice for businesses seeking a versatile and strategically located warehouse space. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $310,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $201,000
      Market price range: $141k - $230k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $275,000
      COMMERCIAL (GENERAL)
      $270,000
      AUTO REPAIR, GARAGE
      $265,000
      RETAIL STORES
      $235,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Olathe
    County
    Johnson
    State
    Kansas
    Longitude
    -94.788
    Latitude
    38.8867
    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
    $10,005
    $24,000
    $61,500
    $85,500
    -
    $96,000
    $246,000
    $342,000

    Comparable in this City

    • Value Estimation
      $265,000
      3.34 Acres

      19925 157th St

      MINI-WAREHOUSE, STORAGE • 3.34 Acres
      19925 157th St, Olathe, KS 66062
      View Details
    • Value Estimation
      $355,000
      7,500 SF

      15875 Cherry Ct

      MINI-WAREHOUSE, STORAGE • 7,500 SF
      15875 Cherry Ct, Olathe, KS 66062-9057
      View Details
    • Value Estimation
      $530,000
      12,250 SF

      15250 Keeler St

      MINI-WAREHOUSE, STORAGE • 12,250 SF
      15250 Keeler St, Olathe, KS 66062-2715
      View Details
    • Value Estimation
      $750,000
      21,500 SF

      15755 Keeler Ter

      MINI-WAREHOUSE, STORAGE • 21,500 SF
      15755 Keeler Ter, Olathe, KS 66062-3519
      View Details
    • Value Estimation
      $320,000
      8,346 SF

      15605 Keeler Ter

      MINI-WAREHOUSE, STORAGE • 8,346 SF
      15605 Keeler Ter, Olathe, KS 66062-3627
      View Details
    • Value Estimation by Request
      15,000 SF

      579 Lindenwood Dr

      MINI-WAREHOUSE, STORAGE • 15,000 SF
      579 Lindenwood Dr, Olathe, KS 66062-1275
      View Details

    Similar Nearby for Sale

    • $1,500,000

      Olathe Industrial Warehouse - $1.5M

      Vacant warehouse, manufacturing space, high visibility.
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      View Details
    • Contact for pricing
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      Prime Olathe location, build-to-suit options.
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    • $1,500,000

      Olathe Industrial Land Investment Opportunity

      Prime M-2 Zoned Land, High Visibility
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    • $849,000
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      Olathe Commercial Land - 1.2 Acres

      Prime 1.2-acre commercial lot in Overland Park.
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    • $1,900,000
      11.70 Acres

      Olathe Land: 11.7 Acres, Divisible

      Prime Olathe land, ideal for development.
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    • Contact for pricing
      7.68 Acres

      Olathe Commercial Land - 7.68 Acres

      Prime Olathe location, high visibility, divisible acreage.
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      View Details

    Similar Nearby for Lease

    • Contact for pricing
      78,412 SF

      Olathe Warehouse Space Available

      78,412 SF warehouse space for lease in Olathe.
      21100 West 159Th St, Olathe, KS 66062
      View Details
    • $10 SF/Yr
      8,400 SF

      New Century Business Park Flex Space

      Modern Olathe flex/warehouse space available.
      25125 151St Ter, Olathe, KS 66062
      View Details
    • $7 SF/Yr
      134,643 SF

      Lone Elm Commerce Center: Building 3

      Olathe, KS Warehouse - Available Now
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    • Contact for pricing
      1,071,139 SF

      Olathe Warehouse Space Available

      Large warehouse space available for lease in Olathe, Kansas.
      17320 S Hedge Ln, Olathe, KS 66062
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    • Contact for pricing
      56,628 SF

      Renovated Flex Warehouse Space Available

      Move-in ready, renovated warehouse flex space with office and dock.
      15342 S Keeler St, Olathe, KS 66062
      View Details
    • Contact for pricing
      200,194 SF

      Lone Elm Commerce Center - Building 5

      Olathe, KS Warehouse - Under Construction
      22610 167Th St, Olathe, KS 66062
      View Details
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    1815 Spruce St
    Olathe, KS 66062-1254
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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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