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

    315 Market St Emporia, KS 66801

    Sponsored
    For Sale
    $375,000

    Prime Commercial Redevelopment Opportunity

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    361
    This exceptional 13,978 square foot, two-story building presents a unique investment opportunity in Emporia, Kansas. Formerly the Kansas Avenue School, this historic property boasts a rich history and sits on a one-acre lot, offering significant potential for adaptive reuse or redevelopment. The expansive layout includes seven spacious classrooms, four offices, and numerous additional rooms, providing ample flexibility for a variety of commercial uses. The building's features include an elevator, ensuring convenient access to both floors. The substantial size and versatile floor plan allow for creative customization to meet diverse needs. Imagine transforming this landmark building into a thriving business center, a unique residential development, or a specialized facility. The possibilities are virtually limitless. The property's location in Emporia offers excellent visibility and accessibility, making it an attractive proposition for entrepreneurs and investors alike. The building's solid construction and substantial size provide a strong foundation for a successful future. While the interior is currently awaiting its next chapter, the included virtually staged images offer a glimpse into the potential for modern, functional spaces. This is a rare chance to acquire a piece of Emporia's heritage and shape its future. The asking price is $375,000.

    Property Features for 315 Market St

    General Information

    Property type
    Other commercial real estate

    Building Details

    Year Built
    1920

    We can help!

    Listing Contact
    Matthew Johnson

    Learn more

    Property Insight Report
    Property Profile Location Intelligence

    Current Use by Public Records

    Kansas Avenue School School

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Emporia
    County
    Lyon County
    State
    Kansas
    Longitude
    -96.17809
    Latitude
    38.39359

    Nearby Similar for Sale

    • Contact for pricing
      3,000 SF

      Lyon County Land Auction

      678-acre premium land offered in multiple parcels.
      2571 Road M, Emporia, KS 66801
      View Details
    • Contact for pricing
      3,000 SF

      Lyon County 678-Acre Land Auction

      678-acre Lyon County land offered in multiple parcels.
      2571 Road M, Emporia, KS 66801
      View Details
    • Contact for pricing
      96.00 Acres

      Cattle Backgrounding Lot with Meadow

      96 acres featuring a unique cattle backgrounding lot and meadow.
      Rd M & Rd 280, Emporia, KS 66801
      View Details
    • $735,000
      11,736 SF

      Iconic Emporia Nightlife Destination

      Fully operational bar and dance hall in revitalized 1901 building.
      601 Commercial St, Emporia, KS 66801
      View Details
    • $195,000

      Commercial Property with Fenced Storage

      Commercial property featuring offices, meeting room, and fenced storage lots.
      314 Neosho St, Emporia, KS 66801
      View Details
    • $375,000

      Former School Building on 1-Acre

      Two-story, 13,978 sq ft former school on 1-acre lot.
      315 S Market St, Emporia, KS 66801
      View Details
    • $750,000
      11,364 SF

      Emporia, KS Apartment Complex

      12-unit apartment complex in Emporia, Kansas, featuring 2-bed/1-bath units.
      603-605 E 11Th Ave, Emporia, KS 66801
      View Details
    • $235,000

      Emporia Commercial Property - Great Value

      Prime Emporia location, versatile commercial space.
      314 Neosho St, Emporia, KS 66801
      View Details
    • $600,000

      Emporia Multi-Property Investment Opportunity

      Five Structures, High Rental Income Potential
      331 Commercial St, Emporia, KS 66801
      View Details
    • $274,999

      Emporia Commercial Property - I-35 Access

      High-visibility commercial lot, redevelopment opportunity.
      1120 12Th Ave, Emporia, KS 66801
      View Details
    • $249,900

      Emporia Commercial Building Investment

      Prime Emporia Location, Multiple Units
      306 Commercial St, Emporia, KS 66801
      View Details
    • $550,000

      Historic Emporia Office Building

      Landmark Office Space, Prime Location
      1220 C Of E Dr, Emporia, KS 66801
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - Prime Commercial Redevelopment Opportunity
    Where is this commercial real estate located?
    The property is located at 315 Market St Emporia, KS.
    What is the asking price?
    The asking price for this property is $375,000.
    (913) 322-7500
    Request Owner's contact information
    315 Market St Emporia, KS 66801
    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.
    315 Market St
    Emporia, KS 66801
    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
    315 Market St Emporia, KS 66801
    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
    Matthew Johnson
    (913) 322-7500
    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.