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Property profile & analytics
OFF-MARKET
Estimated value
$1,060,000
Strip malls
5301 151st St Leawood, KS 66224
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US33-0639300
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2004
Construction
FRAME
Total area
17,487 SF
Lot
2.1 ac (91,476 SF)
Zoning code
SD-NCR
APN
HP22250000 0002
UPID
US33-0639300
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
$880k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.24M
Blend (final)
Blend
$1.06M
Owner & transaction history
Midwest Com Invest At Ironhorse LLC · 4 yrs held
Midwest Com Invest At Ironhorse LLC
since 2022
2 recorded transactions
Zoning & alternative use
SD-NCR · Leawood, KS
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
This district shall provide for selected neighborhood retail business uses within the City. This district is limited to retail activities that are conducted wholly within the facility with noted exceptions. The intended purpose is to provide for neighborhood shopping centers properly landscaped to ensure open space and promote compatibility to surrounding ne…
Zone name
Planned Neighborhood Retail
General category
COMMERCIAL
Zone area
87.97 ac
Source
Realmo
Top alternative use upside
Apartment house (5+ units)
$1.7M
+51.0%
Retail stores
$1.2M
+6.0%
Auto repair, garage
$1.1M
+4.1%
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 Leawood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Leawood 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
$880,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,100,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,665,000
Change: +51% · Conversion: Difficult
RETAIL STORES
$1,165,000
Change: +6% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,145,000
Change: +4% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,000,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$1.06M
Range $954k – $1.17M · ±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
$61 / 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
$114,568
Tax year 2023
Assessed value
$1,002,750
Assessed 2023
Previous assessed
$1,002,750
+0.0% YoY
Effective rate
11.43%
On assessed value
Assessed land
$274,985
Assessed improvement
$727,765
Land market value
$1,099,940
Improvement market value
$2,911,060
Total market value
$4,011,000
Applied tax rate
643.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2004
Construction
FRAME
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Units
14
Total area
17,487 SF
Lot
2.1 ac (91,476 SF)
Zoning code
SD-NCR
APN
HP22250000 0002
UPID
US33-0639300
Jurisdiction
JOHNSON
Zoning & alternative use
SD-NCR · Leawood, KSZoning SD-NCR · permitted uses
SD-NCR · Leawood, KS
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
This district shall provide for selected neighborhood retail business uses within the City. This district is limited to retail activities that are conducted wholly within the facility with noted exceptions. The intended purpose is to provide for neighborhood shopping centers properly landscaped to ensure open space and promote compatibility to surrounding neighborhoods.
Zone name
Planned Neighborhood Retail
General category
COMMERCIAL
Zone area
87.97 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.7M
RETAIL STORES
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$1.0M
NEIGHBORHOOD: SHOPPING CENTER Current
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
2004
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Units
14
Lot
2.1 ac
Current owner
From public records · entity-resolved
Midwest Com Invest At Ironhorse LLC
Entity
Mailing address
9820 METCALF AVE, OVERLAND PARK, KS 66212-6160
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 11, 2022
—
Midwest Com Invest At Ironhorse LLC
Burkat LLC
Warranty Deed
$3,735,000 · First State Bank Of St Charles Mo
Sep 12, 2017
—
Burkat LLC
Md Ironhorse Retail LLC
Special Warranty Deed
$2,000,000 · Community Bank & Trust
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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