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    116 N MAIN Sylvan Grove, KS 67481

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    For Sale
    $125,000

    Commercial Business - Sylvan Grove, KS

    Property size:
    5,319 SF
    Lot size:
    0.98 Acres
    Price / SF:
    $23/SF
    Added:
    Sep 23, 2024
    Days on Market:
    577
    Last Refresh:
    Apr 22 at 6:06 am

    Property Features for 116 N MAIN

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Rooms
    Basement, Kitchen
    Parking features
    Garage
    Basement Y/N
    1
    Standard status
    Active
    Size
    5,319 SF
    Lot size
    0.98 Acres

    Taxes and HOA fees

    Tax Annual Amount
    1808

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1890
    Year renovated
    1890
    Building materials
    Stone
    Roof type
    Flat
    Architectural style
    Other

    We can help!

    Listing Contact
    Desiree Larsen

    Listing agent Desiree Larsen

    Listing office Wildlife Properties Land Company, LLC 110 E 8th St, Smith Center, KS

    Listing date Sep 23, 2024

    MLS# 11393143 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Restaurant and Convenience Store Opportunity

    Located in Sylvan Grove, Kansas, this commercial property combines a restaurant and convenience store. The restaurant features ample seating and a large kitchen equipped for preparing a diverse menu, including bar food, salads, wraps, and steak nights, with access to locally raised beef. The convenience store is stocked with essential groceries, snacks, beverages, and a wide selection of beer, with grocery sales being the main profit driver. Situated in a rural community near Wilson Lake and with access from Interstate 70, the property benefits from a loyal customer base and proximity to a high school, providing access to a reliable workforce. The property has potential for growth by expanding the selection of liquor and spirit options, as well as offering a wider range of grocery items. The building has a size of 5319 square feet and is situated on a lot of 0.98 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    B & W Plumbing Plumbing Service The Feedlot Bar & Grill Restaurant

    Suggested Use

    Restaurant Spa & Massage Center Hair Salon Nail Salon Big Box & Wholesale Store Auto Repair Shop Auto Parts Store Kitchen & Bath Showroom Barber Shop (Bike/Boat/Book/etc) Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sylvan Grove
    County
    Lincoln
    State
    Kansas
    Longitude
    -98.392792
    Latitude
    39.011613

    FAQs

    What type of property is this?
    Grocery and convenience store - Profitable restaurant and convenience store in Sylvan Grove, Kansas.
    Where is this grocery and convenience store located?
    The property is located at 116 N MAIN Sylvan Grove, KS.
    What is the asking price?
    The asking price for this property is $125,000.
    What are key features of this property?
    This property features: Combined Restaurant and Convenience Store: A much‑needed staple in the community offering family dining and essential shopping in one location.; Strong Profitability: Grocery sales are the main profit driver, supplemented by strong beer profits.; Expansion Potential: Significant potential for growth by expanding liquor/spirit options and grocery items; untapped market due to lack of nearby competition.
    (785) 324-1899
    We can help!
    Listing Contact
    Desiree Larsen
    Learn More
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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.

    More about this property
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