Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2009 N Penn Ave Independence, KS 67301

    Sponsored
    For Sale
    $350,000

    SINGLE_FAMILY - Independence, KS

    Type:Office
    Lot size:
    0.57 Acres
    Days on Market:
    143
    Last Refresh:
    Jan 28 at 12:06 am

    Property Features for 2009 N Penn Ave

    General Information

    Property type
    Residential
    Property subtype
    Office
    Standard status
    Active
    Zoning
    C
    APN
    094-19-0-30-02-024.02-0
    Parking features
    Parking Lot
    Interior features
    Public Restroom, Refrigerator Facility
    Exterior features
    Pole Sign
    Lot size
    0.57 Acres

    Utilities

    Utilities
    Water Available

    Building Details

    Year built
    1990
    Floors in Building
    1

    We can help!

    Listing Contact
    Todd Young

    Bill White Real Estate (620) 331-7060

    Listing agent Todd Young (620) 331-7060

    Listing date Sep 8, 2025

    MLS# 2571348

    Copyright © 2026 Heartland Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Prime Commercial Space Opportunity

    This meticulously maintained commercial space offers numerous possibilities. The front lobby leads to a spacious common office area, complemented by two private offices and ample room for divided areas. A conference room equipped with a refrigerator and sink enhances meeting capabilities. Situated in a prime, highly visible location, the property provides plenty of parking for both customers and employees. The property is zoned C and located in Independence, KS, specifically in Montgomery County. The lot size is 0.57 acres. This property presents an ideal business opportunity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Hair Salon Nail Salon Gym & Fitness Bar & Pub Department Store Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Independence
    County
    Montgomery
    State
    Kansas
    Longitude
    -95.70674
    Latitude
    37.245507

    Nearby Similar for Sale

    • $1,495,000
      2,208 SF

      Productive Farm with Charming Farmhouse

      316-acre farm featuring a 2,208 sq ft farmhouse.
      3331 Cr 2000, Independence, KS 67301
      View Details
    • $550,000
      0.96 Acres

      Turn-Key Welding & Machine Shop

      Commercial property with real estate, machinery, and equipment for sale.
      1605 W Maple St, Independence, KS 67301
      View Details
    • $749,000
      2,793 SF

      Versatile Venue on 40 Acres

      Venue for celebrations, retreats, and meetings on 40 acres.
      5680 Hwy 75 N, Independence, KS 67301
      View Details
    • $345,000

      Downtown Mixed-Use Investment Opportunity

      Corner lot building with stable tenants in prime downtown location.
      101 N Penn Ave, Independence, KS 67301
      View Details
    • $239,000

      Established Restaurant on West Main

      Long-standing restaurant with 120-person capacity, suitable for various uses.
      2001 W Main St, Independence, KS 67301
      View Details
    • $1,185,000

      Industrial Property with Large Yard

      Manufacturing/industrial property featuring a large yard and highway access.
      4307 Us-160, Independence, KS
      View Details
    • $450,000
      0.23 Acres

      Historic Downtown Independence Commercial Building

      Landmark building, 52,000 sq ft, high potential.
      201 Pennsylvania Ave, Independence, KS 67301
      View Details

    FAQs

    What type of property is this?
    Office space - Meticulously maintained commercial space with prime visibility and ample parking.
    Where is this office space located?
    The property is located at 2009 N Penn Ave Independence, KS.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: - Prime, visible location with ample customer and employee parking.; - Spacious common office area with two private offices and room for divided areas.; - Conference room with refrigerator and sink.
    (620) 205-6888
    Request Owner's contact information
    2009 N Penn Ave Independence, KS 67301
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2009 N Penn Ave
    Independence, KS 67301
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    2009 N Penn Ave Independence, KS 67301
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Todd Young
    Real Estate License ID: SP00233047
    (620) 205-6888
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.