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    504 Delaware Street Leavenworth, KS 66048

    View on Map
    Pending
    $305,000

    SINGLE_FAMILY - Leavenworth, KS

    Type:Retail
    Property size:
    6,000 SF
    Lot size:
    0.28 Acres
    Added:
    Mar 20, 2025
    Days on Market:
    378
    Last Refresh:
    Apr 1 at 1:06 pm

    Property Features for 504 Delaware Street

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Zoning
    busn
    Parking features
    On Street, Parking Lot
    Interior features
    Storage, In-Law Floorplan
    Exterior features
    Display Window
    Standard status
    Pending
    APN
    077-25-0-33-12-013.00-0
    Size
    6,000 SF
    Lot size
    0.28 Acres

    Taxes and HOA fees

    TaxDescription
    Lots 3 & 4, Block 70, Leavenworth, Original Plat, a subdivision in Leavenworth, Leavenworth County, Kansas.
    TaxAnnualAmount
    6637

    Utilities

    Utilities
    Water Available

    Building Details

    Year built
    1883
    Floors in Building
    2
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Chris Selle
    Chris Selle

    Listing agent Chris Selle License #1959436

    Listing office Wardell & Holmes Real Estate 2526 Holmes St, Kansas City, KS

    Listing date Mar 20, 2025

    MLS# 2537316

    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.

    Overview

    Historic Building with Income Potential

    This late 1800s building in downtown Leavenworth offers a blend of historic charm and income-generating potential. The main level is occupied by a thriving crafts and fabric store (Plain Janes & Co Quilt Shop), which expanded to occupy both sides of the main level in June 2025. The new lease agreement is for 5 years at $33,600 annually. As part of Plain Janes' expansion, the 506 lower level was recently updated. The upper level presents an opportunity for further development. It currently includes a 3-bedroom, 1-bath apartment with a large kitchen and living area that could generate additional income with some improvements. Additionally, there is over 4000 square feet of unfinished or in need of refinishing space, including an old office. This space offers various possibilities, such as creating luxury apartments, a commercial space, or a combination of both. The building sits on a 0.2755-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Double D the Barber Barber Shop Double D's Barbershop Barber Shop

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Leavenworth
    County
    Leavenworth
    State
    Kansas
    Longitude
    -94.915785
    Latitude
    39.318174

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    FAQs

    What type of property is this?
    Retail space - Late 1800s building with retail and residential opportunity.
    Where is this retail space located?
    The property is located at 504 Delaware Street Leavenworth, KS.
    What is the asking price?
    The asking price for this property is $305,000.
    What are key features of this property?
    This property features: Thriving main‑level business (Plain Janes & Co Quilt Shop) with a new 5‑year lease generating $33,600 annually.; Historic building (built in the late 1800s) in downtown Leavenworth.; Significant square footage (approximately 6000 sq ft per floor).
    (573) 356-6505
    We can help!
    Listing Contact
    Chris Selle
    Chris Selle
    Real Estate License ID: 1959436
    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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