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    873 S Parker St Olathe, KS 66061

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    873 S Parker St Olathe, KS 66061

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    • Community centers
    • 0.36 lot acres
    For Lease
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    Olathe Retail Center For Rent For Lease
    Contact for pricing
    96,422 SF

    Olathe Retail Center For Rent

    96,422 SF retail center with high visibility and traffic.

    873 S Parker St, Olathe, KS 66061
    View Listing
    Property ID
    US33-0681093
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail Rebel - Olathe / Big Box & Wholesale Store
    • Southwest Plaza, Olathe, KS / Shopping Center & Mall
    • Auto Insurance Quotes / Marketing & Advertising

    Property Details for 873 S Parker St

    Lot size
    0.36 lot acres
    Zone code
    C3
    Property type
    Community centers
    Property subtype
    Shopping centers
    APN
    DP70900000 0018
    APU
    DP709000000018

    Description

    Southwest Plaza, located at 873 S Parker St, Olathe, KS 66061, presents a compelling investment opportunity. This single-story, 96,422 square foot Class B shopping center, built in 1984, sits on a 15-acre lot at the northwest corner of K7 Highway and Dennis Street. The property boasts excellent visibility and high traffic counts due to its strategic location. Currently 95% occupied, Southwest Plaza offers multiple suites, ranging from a minimum of 2,000 square feet to a maximum contiguous space of 3,050 square feet. There are a total of 18 suites within the building. The property features a 10% load factor and currently has 5,100 square feet of vacant space. Ample parking is available with 230 spaces. The property's building floor area ratio (FAR) is 0.4. Property taxes are $2 per square foot. The center is anchored by Dollar Tree, Maj-R Thrift, and Retail Rebel, indicating a strong existing tenant base and a service-based tenancy. This retail center is ideal for businesses seeking high visibility and access to a thriving Olathe, Kansas community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Olathe
    County
    Johnson
    State
    Kansas
    Longitude
    -94.8361
    Latitude
    38.8717
    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
    $1,840
    $15,725
    $0.00
    $15,725
    -
    $62,900
    $0.00
    $62,900

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      101 Parker St

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      4,984 SF

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      3,575 SF

      912 Chestnut St

      REGIONAL SHOPPING CENTER, MALL • 3,575 SF
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      86 Acres in High Growth

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      Land For Sale

      Land available for sale.
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    Similar Nearby for Lease

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      Olathe Retail Center For Rent

      96,422 SF retail center with high visibility and traffic.
      873 S Parker St, Olathe, KS 66061
      View Details
    • Contact for pricing
      6,500 SF

      Retail Space Near I-35

      Retail space anchored by Bass Pro Shop and Main Event.
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      1,015 SF

      Retail Space Near I-35

      Retail space with high visibility near major highway and anchor tenants.
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      8,000 SF

      Retail Space Near High-Volume Hy-Vee

      Retail spaces available, anchored by high-volume Hy-Vee.
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      1,507 SF

      Olathe Retail Spaces Available

      Redeveloped center with suites and pad sites for lease.
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      Olathe Retail Space For Lease

      Retail space available for lease in Olathe, Kansas.
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    View Listing
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    873 S Parker St
    Olathe, KS 66061
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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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