Downtown Retail Redevelopment
For Sale
$449,999
101 N Santa Fe Ave, Salina, KS 67401
Recently demoed retail property with 2,600+ above-grade square feet and possible usable rooftop space.
Property Size2,600 SF
Price / SF$173.08
Days on Market188
Property Features for 101 N Santa Fe Ave
General Information
Standard status
Active
Size
2,600 SF
Taxes and HOA fees
Annual Taxes
$10,180
Listing Agency:
SalinaHomes
(785) 820-5900
Listed By:
Jessica Decker
(785) 342-0935
Source:
Exprealty
Added: Apr 16
Changed: Oct 17
Last Checked: Oct 19 at 1:02PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SalinaHomes
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This recently demoed retail property at 101 N Santa Fe Ave in Salina is positioned for an immediate redevelopment plan. The building offers 2,600+ square feet of above-grade space, with potential for additional usable area on the rooftop.
The property is being offered for sale, and the current condition is described as ready for your vision. Prospective buyers should confirm the extent and feasibility of any rooftop usable area during due diligence.
With its existing above-grade retail footprint and possible rooftop expansion area, the site may fit buyers looking for a retail redevelopment with room to reimagine the structure’s usable space.
The property is being offered for sale, and the current condition is described as ready for your vision. Prospective buyers should confirm the extent and feasibility of any rooftop usable area during due diligence.
With its existing above-grade retail footprint and possible rooftop expansion area, the site may fit buyers looking for a retail redevelopment with room to reimagine the structure’s usable space.
Key Highlights
- Recently demoed retail property in downtown Salina
- 2,600+ sq ft of above‑grade space
- Possible additional usable rooftop area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,735
Cap Rate
5.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$514,700
$514.7K
Cap Rate 7%
$367,643
$367.6K
Cap Rate 9%
$285,944
$285.9K
Market Conditions
NOI Build-Up for 2,600 SF
Gross rent
$38.4K $14.76/SF
− Vacancy
−$1.6K −$0.62/SF
EGI
$36.8K $14.14/SF
− OpEx
−$11.0K −$4.24/SF
NOI
$25.7K $9.90/SF
Area
Saline County, KS
Vacancy
4.20%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$514,700
Cap Rate 7%
$367,643
Cap Rate 9%
$285,944
Alternative Uses
Best Use
Retail
$367.6K
$321.7K – $428.9K
NOI $25,735 @ 7.0% cap · market cap 5.72%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$27.13M
$23.74M – $31.65M
NOI $1,899,182 @ 7.0% cap · market cap 422.04%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,207
Businesses Nearby
63k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 64%
Hotels & Casinos 21%
Shops & Services 15%
Home Improvements & Furnishings 1%
SONIC Drive In
Dining
18,580 visits/mo
0.5 miles
Homewood Suites by Hilton Salina Downtown
Hotels & Casinos
12,902 visits/mo
0.4 miles
Old Chicago
Dining
8,863 visits/mo
0.3 miles
Dollar General
Shops & Services
7,853 visits/mo
0.4 miles
Burger King
Dining
6,174 visits/mo
0.3 miles
Demographics for 67401, KS
50,338
Population
22,434
Households
2.2
Avg Household Size
39
Median Age
29%
College-Educated
93%
High-School Grad
252.0 sq mi
ZIP Area
200
Density / Sq Mi
$62,603
Median Household Income
$36,995
Median Earnings
$913
Median Rent
$172,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - Recently demoed retail property with 2,600+ above-grade square feet and possible usable rooftop space.
Where is this retail space located?
The property is located at 101 N Santa Fe Ave Salina, KS.
What is the asking price?
The asking price for this property is $449,999.
What are key features of this property?
This property features: Recently demoed retail property in downtown Salina; 2,600+ sq ft of above‑grade space; Possible additional usable rooftop area
