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Property profile & analytics
FOR LEASE
Office buildings
215 S Andover Rd Andover, KS 67002
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US33-0177913
For Lease
1 / 18
$2,700/Mo
215 S Andover Rd, Andover, KS 67002
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Property summary
AI-generated overview
This single-story, 9,880 square foot medical office building in Andover, Kansas, offers a 2,223 square foot suite for immediate occupancy. Built in 2002, the property features a classic brick exterior and a beautifully landscaped lawn. The suite is turnkey and ready for immediate use, with the owner willing to collaborate on build-out costs to meet tenant needs. Ample parking is available with 66 on-site spaces. The building has a total of five suites, and this particular space offers potential for future expansion within the building. Located at 215 S Andover Rd, Andover, KS 67002, in Butler County, this property provides a professional and welcoming environment for medical practices or general office tenants. The building includes elevators. The minimum divisible space is 2,223 square feet, which is also the maximum contiguous space currently available.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
2002
Total area
4,940 SF
Lot
1.26 ac (54,886 SF)
APN
008-304-19-0-40-07-020.00-0
UPID
US33-0177913
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
-
AT&T U-verse Telecommunications Service General Contractor
-
Dr. Cory Lindenman Physician
-
Andover Family Optometry Physician
-
William M. Holman, OD Physician
-
Edward Jones - Financial Advisor: Nikolas Ford Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$455k
CAP Approach
CAP
$860k
Comparable Approach
Comparable
$682k
Blend (final)
Blend
$665k
Owner & transaction history
Ict Real Estate LLC · 4 yrs held
Ict Real Estate LLC
since 2022
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$575,000
+15.7%
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 Andover submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Andover 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
$455,000
CAP Approach
CAP Return
Estimation
6%
$930,000
6.5%
$860,000
7%
$795,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$495,000
Current use
COMMERCIAL (GENERAL)
$575,000
Change: +16% · Conversion: Easy
MEDICAL BUILDING
$480,000
Change: -3% · Conversion: Easy
AUTO REPAIR, GARAGE
$455,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$665k
Range $599k – $732k · ±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
$135 / 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 2019Property tax & assessments
Tax year 2019
Tax billed
$29,917
Tax year 2019
Assessed value
$153,125
Assessed 2023
Previous assessed
$153,125
+0.0% YoY
Effective rate
19.54%
On assessed value
Assessed land
$41,500
Assessed improvement
$111,625
Land market value
$166,000
Improvement market value
$446,500
Total market value
$612,500
Applied tax rate
1.0000
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 buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
For Lease
Year built
2002
Heating
YES
Cooling
YES
Total area
4,940 SF
Lot
1.26 ac (54,886 SF)
APN
008-304-19-0-40-07-020.00-0
UPID
US33-0177913
Jurisdiction
BUTLER
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
OFFICE BUILDING Current
Est. value
$495,000
COMMERCIAL (GENERAL)
Est. value
$575,000
MEDICAL BUILDING
Est. value
$480,000
AUTO REPAIR, GARAGE
Est. value
$455,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
2002
Heating
YES
Cooling
Yes
Lot
1.26 ac
Current owner
From public records · entity-resolved
Ict Real Estate LLC
Entity
Mailing address
236 N YALE AVE, WICHITA, KS 67208-3332
Ownership since
2022
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
Jul 20, 2022
—
Ict Real Estate LLC
Hrh Properties LLC
Warranty Deed
$440,000 · Mid American Cu
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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