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Property profile & analytics
OFF-MARKET
Estimated value
$35,365,000
Distribution centers
18850 Waverly Rd Edgerton, KS 66021-9507
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US33-1558086
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
2016
Total area
655,128 SF
Lot
36.79 ac (1,602,636 SF)
APN
BP55750000 0006
UPID
US33-1558086
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
by Request
Comparable Approach
Comparable
$35.36M
Blend (final)
Blend
$35.37M
Owner & transaction history
31201 W 187th Street Owner LLC · 1 yrs held
31201 W 187th Street Owner LLC
since 2025
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$48.4M
+36.9%
Auto repair, garage
$47.7M
+35.0%
Neighborhood: shopping center
$44.0M
+24.3%
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 Edgerton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Edgerton 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
WAREHOUSE, STORAGE
$35,365,000
Current use
RETAIL STORES
$48,395,000
Change: +37% · Conversion: Moderate
AUTO REPAIR, GARAGE
$47,745,000
Change: +35% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$43,965,000
Change: +24% · Conversion: Moderate
COMMERCIAL (GENERAL)
$34,995,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$35.37M
Range $31.83M – $38.90M · ±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
$54 / 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
$137,130
Tax year 2023
Land market value
$2,564,220
Improvement market value
$37,420,780
Total market value
$39,985,000
Applied tax rate
591.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
2016
Heating
SPACE
Cooling
AC.PACKAGE
Stories
1
Total area
655,128 SF
Lot
36.79 ac (1,602,636 SF)
APN
BP55750000 0006
UPID
US33-1558086
Jurisdiction
JOHNSON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$35.4M
RETAIL STORES
Est. value
$48.4M
AUTO REPAIR, GARAGE
Est. value
$47.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$44.0M
COMMERCIAL (GENERAL)
Est. value
$35.0M
WAREHOUSE, STORAGE Current
RETAIL STORES
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
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
2016
Heating
SPACE
Cooling
Yes
Stories
1
Lot
36.79 ac
Current owner
From public records · entity-resolved
31201 W 187th Street Owner LLC
Entity
Mailing address
3315 N OAK TRFY, KANSAS CITY, MO 64116-2775
Ownership since
2025
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
Feb 27, 2025
—
31201 W 187th Street Owner LLC
Ipv 187 Street LLC
Special Warranty Deed
$100,000,000 · The Northwest Mutual Life Insurance
May 17, 2017
—
Ipv 187 Street LLC
Elhc V 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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