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Property profile & analytics
OFF-MARKET
Estimated value
$1,180,000
Garden apartment buildings
8514 Monrovia St Lenexa, KS 66215-4583
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US33-0490057
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1996
Construction
FRAME
Total area
20,187 SF
Lot
15.35 ac (668,646 SF)
Zoning code
RP4
APN
IP43400000 0001
UPID
US33-0490057
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
$910k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.44M
Blend (final)
Blend
$1.18M
Owner & transaction history
Crossings Apartments LLC · 12 yrs held
Crossings Apartments LLC
since 2013
2 recorded transactions
Zoning & alternative use
RP4 · Lenexa, KS
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.7M
+89.2%
Auto repair, garage
$1.5M
+59.1%
Neighborhood: shopping center
$1.4M
+52.1%
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 Lenexa submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lenexa 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
$910,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$920,000
Current use
RETAIL STORES
$1,745,000
Change: +89% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,465,000
Change: +59% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,405,000
Change: +52% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,015,000
Change: +10% · Conversion: Moderate
WAREHOUSE, STORAGE
$930,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$1.18M
Range $1.06M – $1.30M · ±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
$58 / 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
$453,705
Tax year 2023
Assessed value
$3,937,715
Assessed 2023
Previous assessed
$3,779,245
+4.2% YoY
Effective rate
11.52%
On assessed value
Assessed land
$461,248
Assessed improvement
$3,476,467
Land market value
$4,010,850
Improvement market value
$30,230,150
Total market value
$34,241,000
Applied tax rate
604.0000
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1996
Construction
FRAME
Heating
NONE
Cooling
AC.PACKAGE
Buildings
5
Stories
3
Units
24
Bathrooms
4
Total area
20,187 SF
Lot
15.35 ac (668,646 SF)
Zoning code
RP4
APN
IP43400000 0001
UPID
US33-0490057
Jurisdiction
JOHNSON
Zoning & alternative use
RP4 · Lenexa, KS
Zoning RP4 · permitted uses
RP4 · Lenexa, KS
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lenexa. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$920,000
RETAIL STORES
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$1.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.0M
WAREHOUSE, STORAGE
Est. value
$930,000
APARTMENT HOUSE (5+ UNITS) Current
RETAIL STORES
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
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
1996
Construction
FRAME
Heating
NONE
Cooling
Yes
Stories
3
Buildings
5
Units
24
Bathrooms
4
Lot
15.35 ac
Current owner
From public records · entity-resolved
Crossings Apartments LLC
Entity
Mailing address
3330 DUNDEE RD STE S1, NORTHBROOK, IL 60062-2327
Ownership since
2013
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
Dec 4, 2018
—
Crossings Apartments LLC
—
Deed
related
$15,500,000 · Cbre Multifamily Capital INC
Nov 21, 2013
—
Crossings Apartments LLC
James S Smith
Special Warranty Deed
$14,700,000 · Cbre Capital Markets INC
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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