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    The Largest CRE Database in the US with Over 1 Million Listings

    417 Highway 40 West Lawrence, KS 66049

    View on Map
    Sponsored
    For Sale
    $681,000

    Farm/Estate, Greek Revival - Lawrence, KS

    Type:Farm
    Property size:
    2,728 SF
    Lot size:
    5.02 Acres
    Days on Market:
    8
    Last Refresh:
    Mar 12 at 10:06 am

    Property Features for 417 Highway 40 West

    General Information

    Property type
    Farm
    Property subtype
    Farm
    Standard status
    Active
    Zoning
    100
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Den, Dining Room, Kitchen, Living Room
    Bedrooms
    3
    Bathrooms
    3
    Parking features
    Garage, Garage - Detached
    Fireplace
    1
    Basement Y/N
    1
    Appliances
    Dishwasher, Microwave, Refrigerator, Washer
    Size
    2,728 SF
    Lot size
    5.02 Acres

    Utilities

    Heating system
    Fireplace(s), Forced Air, Propane (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1905
    Year renovated
    1905
    Floors in Building
    3
    Flooring type
    Carpet, Hardwood
    Roof type
    Asphalt
    Architectural style
    Greek Revival

    We can help!

    Listing Contact
    Casey Orr
    Casey Orr

    Wildlife Properties Land Company, LLC (785) 620-7122

    Listing agent Casey Orr (785) 620-3061

    Listing date Mar 4, 2026

    MLS# 11384347 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.

    Learn more

    Property Insight Report

    Overview

    Clock House Estate on 5 Acres

    Located between Lawrence and Topeka, Kansas, along US Highway 40 West, this property, known as the "Clock House," overlooks the California/Oregon Trail. The estate includes over five acres of land featuring the Clock House, a 60' x 100' insulated and heated, steel-framed metal building, and a detached 44’ x 32’ garage/shop. The house has a large front porch and a clock that was relocated from a Nebraska building. The interior features lighting fixtures and a chef's kitchen with Viking appliances, counterspace, and cabinets. The second floor contains three bedrooms and one full bathroom. The third-floor attic houses the clock and is currently used for storage, with potential for additional living space. The unfinished basement adds 1,522 sq ft of space with interior and exterior access, including a third bathroom with a stool, sink, and shower. The original structure is thought to have been built in 1860, and renovations have been made since then. The historic California & Oregon Trail runs in front of the Clock House, and historic Lecompton, KS, and the Kansas Territorial Capital are nearby. The total living area is 2,728 sq ft finished above grade, plus a 1,100 sq ft unfinished walk-up attic. There are three bathrooms: one full on the 2nd floor, one-half on the main floor, and one 3/4 in the basement. The property is 10 miles from Lawrence, KS, 13 miles from Topeka, KS, and a 50-minute drive to Kansas City International Airport. The property is zoned 100 and could be used for commercial real estate purposes.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Specialty properties

    Map

    City
    Lawrence
    County
    Douglas
    State
    Kansas
    Longitude
    -95.425386
    Latitude
    38.999273

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    FAQs

    What type of property is this?
    Specialty property - Unique property with a clock tower, metal building, and shop.
    Where is this specialty property located?
    The property is located at 417 Highway 40 West Lawrence, KS.
    What is the asking price?
    The asking price for this property is $681,000.
    What are key features of this property?
    This property features: - Unique "Clock House" landmark property with historical significance and visibility from I-70.; - Massive 6,000 sq ft insulated and heated steel-frame metal building.; - Over 5 acres of land overlooking the California/Oregon Trail.
    (785) 620-7122
    Request Owner's contact information
    417 Highway 40 West Lawrence, KS 66049
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    Lawrence, KS 66049
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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
    417 Highway 40 West Lawrence, KS 66049
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    We can help!
    Listing Contact
    Casey Orr
    Casey Orr
    (785) 620-7122 (785) 620-3061 (785) 620-7121
    Learn more
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