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Property profile & analytics
FOR SALE
Warehouses
5439 Merriam Dr Shawnee, KS 66203
Entity Owned
~
Est. High Equity
Property ID
US33-0366404
For Sale
1 / 6
$1,600,000
5439 Merriam Dr, Shawnee, KS 66203
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1969
Construction
FRAME
Total area
15,697 SF
Lot
1.04 ac (45,302 SF)
Zoning code
I1
APN
JF241201-4056
UPID
US33-0366404
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
$470k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$566k
Blend (final)
Blend
$515k
Owner & transaction history
Kc Strings INC
Kc Strings INC
since 2026
2 recorded transactions
Zoning & alternative use
I1 · Shawnee, KS
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 Shawnee submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Shawnee 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
$470,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$780,000
Current use
Blend value · Realmo final
$515k
Range $464k – $567k · ±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
$33 / 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
$18,180
Tax year 2023
Assessed value
$166,475
Assessed 2023
Previous assessed
$188,250
-11.6% YoY
Effective rate
10.92%
On assessed value
Assessed land
$39,445
Assessed improvement
$127,030
Land market value
$157,780
Improvement market value
$508,120
Total market value
$665,900
Applied tax rate
608.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
For Sale
Year built
1969
Construction
FRAME
Heating
HEAT PUMP
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
15,697 SF
Lot
1.04 ac (45,302 SF)
Zoning code
I1
APN
JF241201-4056
UPID
US33-0366404
Jurisdiction
JOHNSON
Zoning & alternative use
I1 · Shawnee, KSZoning I1 · permitted uses
I1 · Shawnee, KS
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$780,000
WAREHOUSE, STORAGE Current
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
1969
Construction
FRAME
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Units
1
Lot
1.04 ac
Current owner
From public records · entity-resolved
Kc Strings INC
Entity
Mailing address
5439 MERRIAM DR, SHAWNEE, KS 66203-2141
Ownership since
2026
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
Apr 13, 2026
$1,514,100
Kc Strings INC
Arsenal Holdings LLC
Special Warranty Deed
$1,211,250 · First Citizens Bank And Trust Company
Jun 23, 2016
—
Arsenal Holdings LLC
Access Capital Corp
Warranty Deed
$486,000 · First National Bank Of Omaha
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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