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Property profile & analytics
OFF-MARKET
Estimated value
$940,000
Warehouses
9735 Commerce Pkwy Lenexa, KS 66219-2403
Entity Owned
~
Est. High Equity
Property ID
US33-0243681
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2000
Construction
CONCRETE
Total area
34,776 SF
Lot
4.04 ac (175,982 SF)
Zoning code
BP2
APN
IP33700000 0011A
UPID
US33-0243681
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
$940k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$940k
Blend (final)
Blend
$940k
Owner & transaction history
Kemin Holdings Lc
Kemin Holdings Lc
since 2025
4 recorded transactions
Zoning & alternative use
BP2 · Lenexa, KS
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$1.2M
+25.1%
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
$940,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$950,000
Current use
INDUSTRIAL (GENERAL)
$1,190,000
Change: +25% · Conversion: Easy
Blend value · Realmo final
$940k
Range $846k – $1.03M · ±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
$27 / 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
$82,791
Tax year 2023
Assessed value
$707,250
Assessed 2023
Previous assessed
$699,250
+1.1% YoY
Effective rate
11.71%
On assessed value
Assessed land
$153,795
Assessed improvement
$553,455
Land market value
$615,180
Improvement market value
$2,213,820
Total market value
$2,829,000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2000
Construction
CONCRETE
Heating
SPACE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
34,776 SF
Lot
4.04 ac (175,982 SF)
Zoning code
BP2
APN
IP33700000 0011A
UPID
US33-0243681
Jurisdiction
JOHNSON
Zoning & alternative use
BP2 · Lenexa, KS
Zoning BP2 · permitted uses
BP2 · 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
WAREHOUSE, STORAGE Current
Est. value
$950,000
INDUSTRIAL (GENERAL)
Est. value
$1.2M
WAREHOUSE, STORAGE Current
INDUSTRIAL (GENERAL)
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
2000
Construction
CONCRETE
Heating
SPACE
Cooling
Yes
Stories
1
Units
1
Lot
4.04 ac
Current owner
From public records · entity-resolved
Kemin Holdings Lc
Entity
Mailing address
7940 MARSHALL DR, LENEXA, KS 66214-1562
Ownership since
2025
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
Sep 19, 2025
—
Kemin Holdings Lc
Commerce Parkway LLC
Quitclaim Deed
related
—
Dec 30, 2024
—
Commerce Parkway LLC
Parkville Partners 2 LLC
Special Warranty Deed
—
Dec 22, 2023
—
Parkville Partners 2 LLC
French Wagner Properties LLC
Special Warranty Deed
$3,500,000 · Commerce Bank
Sep 14, 2023
—
French Wagner Properties LLC
—
Deed
related
$6,000,000 · Busey 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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