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Property profile & analytics
OFF-MARKET
Estimated value
$500,000
Garden apartment buildings
9501 Melrose St Overland Park, KS 66214-2231
Entity Owned
16-yr Hold
Free & Clear
Property ID
US33-0561256
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1968
Construction
FRAME
Total area
13,572 SF
Lot
3.85 ac (167,706 SF)
Zoning code
R4
APN
NP13800006 000A
UPID
US33-0561256
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
$535k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$471k
Blend (final)
Blend
$500k
Owner & transaction history
Rkp Craigmont LLC · 16 yrs held
Rkp Craigmont LLC
since 2010
2 recorded transactions
Zoning & alternative use
R4 · Overland Park, KS
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$555,000
+16.4%
Warehouse, storage
$510,000
+7.6%
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
$535,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$475,000
Current use
INDUSTRIAL (GENERAL)
$555,000
Change: +16% · Conversion: Difficult
WAREHOUSE, STORAGE
$510,000
Change: +8% · Conversion: Difficult
Blend value · Realmo final
$500k
Range $450k – $550k · ±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
$37 / 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
$50,413
Tax year 2023
Assessed value
$485,300
Assessed 2023
Previous assessed
$414,575
+17.1% YoY
Effective rate
10.39%
On assessed value
Assessed land
$72,307
Assessed improvement
$412,993
Land market value
$628,760
Improvement market value
$3,591,240
Total market value
$4,220,000
Applied tax rate
660.0000
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
1968
Construction
FRAME
Heating
NONE
Cooling
AC.PACKAGE
Buildings
6
Stories
2
Units
9
Bathrooms
4
Total area
13,572 SF
Lot
3.85 ac (167,706 SF)
Zoning code
R4
APN
NP13800006 000A
UPID
US33-0561256
Jurisdiction
JOHNSON
Zoning & alternative use
R4 · Overland Park, KS
Zoning R4 · permitted uses
R4 · 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$475,000
INDUSTRIAL (GENERAL)
Est. value
$555,000
WAREHOUSE, STORAGE
Est. value
$510,000
APARTMENT HOUSE (5+ UNITS) Current
INDUSTRIAL (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
1968
Construction
FRAME
Heating
NONE
Cooling
Yes
Stories
2
Buildings
6
Units
9
Bathrooms
4
Lot
3.85 ac
Current owner
From public records · entity-resolved
Rkp Craigmont LLC
Entity
Free & Clear · 16 yrs held
Mailing address
11204 BROOKWOOD AVE, LEAWOOD, KS 66211-3096
Ownership since
2010
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
May 13, 2010
—
Rkp Craigmont LLC
Jeg Investments Limited Partnership
Deed
—
Jan 6, 2010
—
Bva Craigmont LLC
Jeg Investments Limited Partnership
Deed
—
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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