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    Income-Producing Mixed-Use Building Title is generated by Realmo AI

    220 N Douglas, Ellsworth, KS 67439

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    Downtown Ellsworth building with retail and apartment units for sale.

    Type:Mixed Use
    Property size:
    9,675 SF
    Lot size:
    0.22 Acres
    Price / SF:
    $24/SF
    Added:
    Nov 16, 2024
    Days on Market:
    567
    Last Refresh:
    May 13 at 8:22 pm

    Property Features for 220 N Douglas

    General Information

    Standard status
    Active
    Size
    9,675 SF
    Lot size
    0.22 Acres
    Property subtype
    Mixed Use

    We can help!

    Listing Contact
    Desiree Larsen

    Listing agent Desiree Larsen License #00236301

    Listing office Wildlife Properties Land Co.

    Listing date Nov 16, 2024

    Source Crexi

    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 Wildlife Properties Land Co.

    HighLights

    • Income‑producing property with long‑term, quality tenants.
    • Prime downtown location in historic Ellsworth, KS.
    • Includes retail storefront and two apartments (2 bed/1 bath and 2 bed/2 bath with laundry).
    • Large unfinished second story offers potential for customization.
    • Well‑maintained building with updates to maximize profitability.
    • Central heating & cooling, city water & sewer, and natural gas.

    Overview

    Located in the historic Cowtown of Ellsworth, KS, this well-maintained building offers income-producing potential. The property includes nearly 1,700 sq ft of retail storefront space, a main-floor apartment with 2 bedrooms, 1 bathroom, and laundry, and a 3,000 sq ft basement apartment with 2 bedrooms and 1 bathroom. The building also features a large unfinished second story with a rear entrance, presenting an opportunity for further development. The building was built circa 1929. The lot size is 9,675 sq ft, with 3,225 sq ft on the main floor, 3,225 sq ft on the second floor, and 3,225 sq ft in the finished basement. Utilities include central heating and cooling, city water and sewer, and natural gas. The second story is primed and ready to be finished.
    Property Profile Location Intelligence

    Current Use by Public Records

    Classy Lady Boutique Clothing Store Kanhistque Publishing House Ellsworth County Independent Marketing & Advertising

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Ellsworth
    County
    Ellsworth
    State
    Kansas
    Longitude
    -98.230688
    Latitude
    38.729782

    Nearby Similar for Sale

    • $197,500

      Historic Downtown Ellsworth Commercial Buildings

      Two adjoining buildings in Ellsworth's Downtown Historic District.
      #115 & #117 N Douglas, Ellsworth, KS 67439
      View Details
    • $44,000
      1,092 SF

      Downtown Ellsworth Storefront Opportunity

      Versatile storefront in downtown Ellsworth, suitable for business or residential.
      108 E 1st St, Ellsworth, KS 67439
      View Details
    • $99,750
      3,795 SF

      Historic Gothic Revival Church Building

      Historic church with open sanctuary, kitchen, and community room.
      103 W 4th, Ellsworth, KS 67439
      View Details
    • $240,000
      6,450 SF

      Income Producing Downtown Ellsworth Building

      Well-maintained, updated building with retail space and apartments in historic Ellsworth.
      220 N Douglas, Ellsworth, KS 67439
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Downtown Ellsworth building with retail and apartment units for sale.
    Where is this mixed-use property located?
    The property is located at 220 N Douglas Ellsworth, KS.
    What is the asking price?
    The asking price for this property is $240,000.
    What are key features of this property?
    This property features: Income‑producing property with long‑term, quality tenants.; Prime downtown location in historic Ellsworth, KS.; Includes retail storefront and two apartments (2 bed/1 bath and **2 bed/2 bath with laundry**).
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Desiree Larsen
    Real Estate License ID: 00236301
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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.

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