Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5240 116th Pl Leawood, KS 66211-7802

    • Garden apartment buildings
    • 60,489 SF
    • 0.42 lot acres
    OFF-MARKET
    Value Estimations
    $4,945,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US33-0927834
    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

    • Garden apartment buildings

    Property Details for 5240 116th Pl

    Year built
    2011
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.42 lot acres
    Property size
    60,489 SF
    Property type
    Garden apartment buildings
    APN
    HP90550000 0022
    APU
    HP905500000022

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,197,000
      Market price range: $1.71M - $4.33M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $7,905,000
      RETAIL STORES
      $4,920,000
      NEIGHBORHOOD: SHOPPING CENTER
      $4,070,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Leawood
    County
    Johnson
    State
    Kansas
    Longitude
    -94.6465
    Latitude
    38.9176
    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
    $314,820
    $73,048
    $2,518,653
    $2,591,701
    -
    $292,190
    $10,074,610
    $10,366,800

    Comparable in this City

    • Value Estimation
      $3,480,000
      41,996 SF

      11523 Ash St

      GARDEN APT, COURT APT (5+ UNITS) • 41,996 SF
      11523 Ash St, Leawood, KS 66211-7805
      View Details
    • Value Estimation
      $5,880,000
      72,077 SF

      11605 Ash St

      GARDEN APT, COURT APT (5+ UNITS) • 72,077 SF
      11605 Ash St, Leawood, KS 66211
      View Details
    • Value Estimation
      $665,000
      10,778 SF

      5260 116th Pl

      GARDEN APT, COURT APT (5+ UNITS) • 10,778 SF
      5260 116th Pl, Leawood, KS 66211-7802
      View Details
    • Value Estimation
      $1,530,000
      29,017 SF

      11600 Ash St

      GARDEN APT, COURT APT (5+ UNITS) • 29,017 SF
      11600 Ash St, Leawood, KS 66211
      View Details
    • Value Estimation
      $8,210,000
      102,618 SF

      11520 Ash St

      GARDEN APT, COURT APT (5+ UNITS) • 102,618 SF
      11520 Ash St, Leawood, KS 66211-7804
      View Details
    • Value Estimation
      $515,000
      6,545 SF

      11638 Ash St

      GARDEN APT, COURT APT (5+ UNITS) • 6,545 SF
      11638 Ash St, Leawood, KS 66211-7800
      View Details

    Similar Nearby for Sale

    • $299,000
      0.18 Acres

      Leawood Land: Build Your Dream Home

      Prime 0.18-acre lot in Hallbrook East Village
      11420 Cambridge Rd, Leawood, KS 66211
      View Details
    • Contact for pricing
      75,395 SF

      Leawood Executive Office Building

      Class A Office, 75,395 SF, Owner/User
      11300 Tomahawk Creek Pkwy, Leawood, KS 66211
      View Details
    • Contact for pricing
      37,273 SF

      College Blvd Medical Office Site

      Prime 0.86-acre medical/retail site
      6201 College Blvd, Overland Park, KS 66211
      View Details
    • Contact for pricing
      9.64 Acres

      Leawood Commercial Land Opportunity

      9.64 Acres, High-Traffic Location
      115th Ave, Leawood, KS 66211
      View Details
    • $5,000,000
      51,178 SF

      Leawood Office Building For Sale

      51,178 SF office building in Leawood, Kansas.
      5200 W 110Th St, Leawood, KS 66211
      View Details
    • Contact for pricing

      Premier Mixed-Use Destination in Leawood

      Class A office, retail, and restaurant space in affluent Leawood.
      11500 Ash St, Leawood, KS 66211
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,223 SF

      Retail Space in Leawood, Kansas

      Retail space available within a mixed-use development in Leawood.
      11521-11571 Ash St, Leawood, KS 66211
      View Details
    • Contact for pricing
      2,544 SF

      Retail Space in Park Place

      Retail space available within a mixed-use development in Leawood, KS.
      11520-11570 Ash St, Leawood, KS 66211
      View Details
    • Contact for pricing
      1 SF

      Overland Park Executive Office Suite

      Prime Johnson County Office Space, 1 sq ft.
      5100 110Th St, Overland Park, KS 66211
      View Details
    • Sponsored
      New
      Contact for pricing

      Park Place

      Discover many ways to work your way in Park Place
      5251 116Th Pl, Leawood, KS 66211
      View Details
    • Contact for pricing

      Overland Park Office Space Available

      Office space available for rent in Overland Park, Kansas.
      6700 College Blvd, Overland Park, KS 66211
      View Details
    • Contact for pricing
      1,500 SF

      Overland Park Class A Office

      Class A office space with I-435 visibility available for rent.
      4370 W 109Th St, Leawood, KS 66211
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5240 116th Pl
    Leawood, KS 66211-7802
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!