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    Versatile Commercial Property in Jetmore Title is generated by Realmo AI

    221 Main Street, Jetmore, KS 67854

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    Claim this Listing
    For Sale
    $385,000

    COMMERCIAL - Jetmore, KS

    Property size:
    3,776 SF
    Lot size:
    0.32 Acres
    Price / SF:
    $101/SF
    Added:
    Sep 12, 2024
    Days on Market:
    631
    Last Refresh:
    Jun 4 at 6:06 am

    Property Features for 221 Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Parking Lot
    Security features
    Security System
    Interior features
    Storage
    Appliances
    Electric Water Heater
    Standard status
    Active
    Size
    3,776 SF
    Lot size
    0.32 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Description
    Attached.
    Tax Annual Amount
    4250

    Utilities

    Heating system
    Electric (Heating)
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Flooring type
    Concrete
    Roof type
    Flat
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Jamie Biera

    Listing agent Jamie Biera License #BR00222836

    Listing office RE/MAX One 501 N Main Street, Garden City, KS

    Listing date Sep 12, 2024

    MLS# 21870

    Copyright © 2026 Kansas High Plains Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime location at the intersection of Highway 156 and Highway 283 in Jetmore, KS.
    • Expansive 3776 sq. ft. commercial property on a 14,000 sq. ft. lot.
    • 6‑bay automotive repair shop with two hydraulic lifts.
    • Includes a renovated historical Main Street building (built in 1940, updated in 2019).
    • Equipped with HVAC, bathroom, and ample storage space.
    • New roof added in 2016.

    Overview

    Located in Jetmore, Kansas, at 221 Main St, this commercial property offers a business opportunity at the intersection of Highway 156 and Highway 283. The property includes an expansive 3776 sq. ft. building on a 14,000 sq. ft. lot, featuring concrete driveways and carport parking. Formerly Schwartz Auto Service LLC, the property includes a 6-bay automotive repair shop equipped with two hydraulic lifts installed in 2009 and 2016. The facility is equipped with HVAC, a bathroom, and ample storage space. Constructed in 2016 by QSI for business expansion, the property also includes a renovated historical Main Street building that was built in 1940 and updated in 2019. A new roof was added in 2016. This versatile space offers potential for expanding an existing business or investing in a commercial location.
    Property Profile Location Intelligence

    Current Use by Public Records

    Schwartz Auto Services Auto Repair Shop

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Center Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Pharmacy Gym & Fitness Center

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

    Similar Places Nearby

    • Schwartz Auto Services — 221 Main St, Jetmore, KS 67854

    Location Insight

    • Map
    • Local Demand
    City
    Jetmore
    County
    Hodgeman
    State
    Kansas
    Longitude
    -99.894194
    Latitude
    38.086908

    FAQs

    What type of property is this?
    Auto shop - Spacious commercial property with auto shop and renovated historical building.
    Where is this auto shop located?
    The property is located at 221 Main Street Jetmore, KS.
    What is the asking price?
    The asking price for this property is $385,000.
    What are key features of this property?
    This property features: Prime location at the intersection of Highway 156 and Highway 283 in Jetmore, KS.; Expansive 3776 sq. ft. commercial property on a 14,000 sq. ft. lot.; 6‑bay automotive repair shop with two hydraulic lifts.
    (620) 805-2616
    We can help!
    Listing Contact
    Jamie Biera
    Real Estate License ID: BR00222836
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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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