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    5901 Nieman Rd Shawnee, KS 66203
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    Property profile & analytics

    5901 Nieman Rd, Shawnee, KS 66203

    View on Map
    • Strip malls
    • 16,592 SF
    • 1.31 lot acres
    For Lease
    $690,000
    View Listing →
    Downtown Shawnee Retail/Restaurant Space For Lease
    $690,000
    943 SF

    Downtown Shawnee Retail/Restaurant Space

    Revitalized downtown location with high foot traffic and ample parking.

    5901 Nieman Rd, Shawnee, KS
    View Listing
    Property ID
    US33-0288007
    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.
    Value Estimations
    $690,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Strip malls

    Property Details for 5901 Nieman Rd

    Year built
    1956
    Construction
    CONCRETE BLOCKS
    Lot size
    1.31 lot acres
    Zone code
    CH
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    QP65000036 0003
    APU
    QP650000360003

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 26, 2024 — Karra Brothers LLC — Deed · related $2.3M · Central Trust Bank
    Jul 11, 2022 — Karra Brothers LLC — Deed · related $1.4M · Landmark National Bank
    Feb 16, 2017 — Karra Brothers LLC 59 Plaza LLC Warranty Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $585,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $797,000
      Market price range: $798k - $1.65M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,045,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Shawnee
    County
    Johnson
    State
    Kansas
    Longitude
    -94.7141
    Latitude
    39.0216
    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
    $28,621
    $91,200
    $160,800
    $252,000
    -
    $364,800
    $643,200
    $1,008,000

    Comparable in this City

    • Value Estimation by Request
      0.06 Acres

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    • Value Estimation by Request
      3,847 SF

      6445 Nieman Rd

      SHOPPING CENTER, STRIP CENTER
      6445 Nieman Rd, Shawnee, KS 66203-3353
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    • Value Estimation by Request
      6,680 SF

      10215 47th St

      SHOPPING CENTER, STRIP CENTER
      10215 47th St, Shawnee, KS 66203-1275
      View Details
    • Value Estimation
      $1,280,000
      12,011 SF

      10902 74th Ter

      SHOPPING CENTER, STRIP CENTER
      10902 74th Ter, Shawnee, KS 66203-4420
      View Details
    • Value Estimation by Request
      0.41 Acres

      Shawnee, KS 66203

      SHOPPING CENTER, STRIP CENTER
      Shawnee, KS 66203
      View Details
    • Value Estimation
      $1,775,000
      33,933 SF

      6220 Nieman Rd

      SHOPPING CENTER, STRIP CENTER
      6220 Nieman Rd, Shawnee, KS 66203-2902
      View Details

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      Retail Space For Sale

      Retail space available with a 6.33% CAP rate.
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      Merriam Land Site For Sale

      Infill land site ideal for automotive or flex users.
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      7,806 SF

      Shawnee Car Wash Opportunity

      7,806 SF car wash on 1.90 acres in Shawnee, KS.
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    • $199,900
      Pending

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      Duplex on 0.58 acres near I-35 and I-635.
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      Downtown Shawnee Infill Development Lot

      Infill lot suitable for mixed-use or multi-family development.
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      Duplex in Shawnee, KS with strong rental income potential.
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    Similar Nearby for Lease

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      6,700 SF

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      Retail space available in shopping center with planned upgrades.
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      Retail Space at Parkway Center

      35,499 SF retail space available for lease.
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      Retail Space For Lease

      Retail space available for lease on Shawnee Mission Parkway.
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      Restaurant Space with Established Kitchen

      Restaurant space with large kitchen and high-visibility signage.
      10919 Shawnee Mission Pkwy, Shawnee, KS 66203
      View Details
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      35,499 SF

      Retail Space in Shawnee Center

      Retail space with loading dock in established Shawnee center.
      11215 Shawnee Mission Pkwy, Shawnee, KS 66203
      View Details
    • Contact for pricing
      3,821 SF

      Downtown Shawnee Retail/Restaurant Space

      Revitalized downtown location with high foot traffic and ample parking.
      5901 Nieman Rd, Shawnee, KS 66203
      View Details
    View Listing
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    Shawnee, KS 66203
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    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.

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