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Property profile & analytics
OFF-MARKET
Estimated value
$570,000
Distribution centers
711 Kansas Ave Olathe, KS 66061-4526
Entity Owned
3-yr Hold
Free & Clear
Property ID
US33-0179621
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1950
Construction
FRAME
Total area
17,195 SF
Lot
0.76 ac (32,994 SF)
Zoning code
M2
APN
DP67000000 0001
UPID
US33-0179621
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
$485k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$658k
Blend (final)
Blend
$570k
Owner & transaction history
Hyer Properties LLC · 3 yrs held
Hyer Properties LLC
since 2022
4 recorded transactions
Zoning & alternative use
M2 · Olathe, KS
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Olathe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Olathe 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
$485,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$875,000
Current use
Blend value · Realmo final
$570k
Range $513k – $627k · ±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
$12,433
Tax year 2023
Assessed value
$106,251
Assessed 2023
Previous assessed
$61,501
+72.8% YoY
Effective rate
11.70%
On assessed value
Assessed land
$41,243
Assessed improvement
$65,008
Land market value
$164,970
Improvement market value
$260,030
Total market value
$425,000
Applied tax rate
8.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1950
Construction
FRAME
Heating
NONE
Cooling
NONE
Stories
1
Units
1
Total area
17,195 SF
Lot
0.76 ac (32,994 SF)
Zoning code
M2
APN
DP67000000 0001
UPID
US33-0179621
Jurisdiction
JOHNSON
Zoning & alternative use
M2 · Olathe, KS
Zoning M2 · permitted uses
M2 · Olathe, KS
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Olathe. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$875,000
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
1950
Construction
FRAME
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Lot
0.76 ac
Current owner
From public records · entity-resolved
Hyer Properties LLC
Entity
Free & Clear · 3 yrs held
Mailing address
23733 W 118TH TER, OLATHE, KS 66061-5501
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 2, 2022
—
Hyer Properties LLC
1316 LLC
Special Warranty Deed
—
Jun 16, 2011
—
Flatiron Investments LLC
Ward Vanlerberg
Warranty Deed
$105,000 · Cornerstone Bank
Jun 3, 2011
—
Flatiron Investments LLC
Ward Vanlerberg
Quit Claim Deed
related
—
Feb 24, 2010
—
Ward Vanlerberg
Lynn D Mann
Warranty Deed
$107,500 · Cornerstone Bank
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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