Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$11,375,000
Office Spaces
7131 135th St Overland Park, KS 66223-1238
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US33-0487402
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1995
Construction
CONCRETE
Total area
63,336 SF
Lot
3.35 ac (145,926 SF)
Zoning code
CP-2
APN
NP57550000 0001
UPID
US33-0487402
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
Current use
Occupant on record · Public records
-
Staples Print & Marketing Services (Bike/Boat/Book/etc) Store Printing Service
-
FullCircle HR Consulting A 360 Approach to HR in Long Term Care Consultant
-
UPS Alliance Shipping Partner Courier Service Postal Service
-
Amazon Locker - Craik Courier Service Postal Service
-
Keepers Legacy Home Care Services LLC Home Health Care Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$13.18M
Comparable Approach
Comparable
$9.57M
Blend (final)
Blend
$11.38M
Owner & transaction history
Hobb Partners III LLC · 19 yrs held
Hobb Partners III LLC
since 2007
1 recorded transaction
Zoning & alternative use
CP-2 · Overland Park, KS
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$11.5M
+42.5%
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 Overland Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Overland Park 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
by Request
CAP Approach
CAP Return
Estimation
6%
$14,275,000
6.5%
$13,180,000
7%
$12,235,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$8,060,000
Current use
RESTAURANT
$11,485,000
Change: +42% · Conversion: Moderate
Blend value · Realmo final
$11.38M
Range $10.24M – $12.51M · ±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
$180 / 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
$262,011
Tax year 2023
Assessed value
$2,457,000
Assessed 2023
Previous assessed
$2,377,500
+3.3% YoY
Effective rate
10.66%
On assessed value
Assessed land
$456,905
Assessed improvement
$2,000,095
Land market value
$1,827,620
Improvement market value
$8,000,380
Total market value
$9,828,000
Applied tax rate
666.0000
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
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1995
Construction
CONCRETE
Heating
NONE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
63,336 SF
Lot
3.35 ac (145,926 SF)
Zoning code
CP-2
APN
NP57550000 0001
UPID
US33-0487402
Jurisdiction
JOHNSON
Zoning & alternative use
CP-2 · Overland Park, KS
Zoning CP-2 · permitted uses
CP-2 · Overland Park, KS
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Overland Park. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$8.1M
RESTAURANT
Est. value
$11.5M
OFFICE BUILDING Current
RESTAURANT
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
1995
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Lot
3.35 ac
Current owner
From public records · entity-resolved
Hobb Partners III LLC
Entity
Mailing address
4520 MAIN ST STE #1000, KANSAS CITY, MO 64111-7700
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 5, 2007
—
Hobb Partners III LLC
Bfre LLC
Special Warranty Deed
$5,350,000 · M & I Marshall & Ilsley 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 7131 135th St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
