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    Mixed-Use Investment Opportunity in Cheney Title is generated by Realmo AI

    125 N Main St, Cheney, KS 67025

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    Claim this Listing
    Pending
    $225,000

    COMMERCIAL - Cheney, KS

    Lot size:
    0.16 Acres
    Added:
    Feb 19, 2026
    Days on Market:
    86
    Last Refresh:
    May 16 at 2:06 pm

    Property Features for 125 N Main St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Limited Comm
    Parking features
    On Street
    Standard status
    Pending
    APN
    17308-0240801300
    Lot size
    0.16 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    LOTS 4-5 BLOCK 14 CITY OF CHENEY
    Tax Annual Amount
    4605

    Utilities

    Utilities
    Natural Gas Available
    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Cooling system
    Central Air, Electric
    Water source
    Public

    Building Details

    Year built
    1910
    Floors in Building
    2
    Flooring type
    Carpet, Vinyl
    Building materials
    Block
    Roof type
    Tar/Gravel

    We can help!

    Listing Contact
    Jami Viner

    Listing agent Jami Viner License #00238899

    Listing office Keller Williams Hometown Partners 429 S 119th St W, Wichita, KS

    Listing date Feb 19, 2026

    MLS# 668563

    Copyright © 2026 South Central Kansas MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Potential for at least 6 rental spaces.
    • Four of six rental spaces are currently rented, providing immediate income.
    • Potential monthly rental income of at least $2,685.
    • Existing tenant (Times‑Sentinel Newspaper) renting space for $500/month.
    • Opportunity to headquarter or start a business in the building.
    • Located in Cheney, Kansas, a progressive town with amenities.

    Overview

    Located in Cheney, Kansas, the property at 125 N Main Street presents an investment opportunity with the potential for at least six rental spaces. Currently, four of these spaces are rented. The property can accommodate a business headquarters, a new business venture, or continued rental to other tenants. The Times-Sentinel Newspaper occupies the area shaded in yellow and rents it for $500 per month. The front office area, shaded in purple, is available for rent at $700 per month. The two-office suite, shaded in lavender, is available for at least $300 per month. The office and garage space in pink is currently rented at $550 per month, and the garage space in orange is currently rented at $250 per month. The upstairs apartment is currently rented at $385 per month. The property offers a potential of at least $2,685 in monthly rental income. Cheney is described as a progressive town with many amenities. The property is located on a lot of 0.16 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Times-Sentinel Newspaper Publishing House Cheney Tire & Automotive ... Auto Repair Shop Pearce Hotel & Motel Unique Enterprises, LLC IT Consulting Firm Ardent Path, LLC. (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Cheney
    County
    Sedgwick
    State
    Kansas
    Longitude
    -97.781416
    Latitude
    37.627613

    Nearby Similar for Sale

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    • $1,050,000

      Remodeled Cheney Gas Station Retail

      Recently remodeled gas station and convenience store with fuel service.
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    • $1,350,000
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      Remodeled Cheney Convenience Store & Gas

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property with rental income potential in Cheney, Kansas.
    Where is this mixed-use property located?
    The property is located at 125 N Main St Cheney, KS.
    What is the asking price?
    The asking price for this property is $225,000.
    What are key features of this property?
    This property features: Potential for at least 6 rental spaces.; Four of six rental spaces are currently rented, providing immediate income.; Potential monthly rental income of at least $2,685.
    (785) 550-6203
    We can help!
    Listing Contact
    Jami Viner
    Real Estate License ID: 00238899
    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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