It assumes CONSTANT acceleration.
It also assumes no friction, no drag, and zero moment of inertia for the wheels....in addition to a perfect thrust curve for the engines.
So, grease up that runway.
Constant acceleration is generally a poor approximation unless you're working in a vacuum. Calculate your velocity using the freshman physics above, for a fall off a 25 story building (200 feet). You'll be making sonic booms. This doesn't really happen. Models should be as simple as possible for utility, but no simpler.
What you can say is that it will take AT LEAST as long as the constant acceleration approximation, as all the corrections slow you down. But it may be a lot longer.