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    TPO-Roof Commercial Building Title is generated by Realmo AI

    224 N Main St, McPherson, KS 67460

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    For Sale
    $155,000

    SINGLE_FAMILY - McPherson, KS

    Type:Retail
    Lot size:
    0.08 Acres
    Added:
    Jun 3, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 4 at 8:06 am

    Property Features for 224 N Main St

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Parking features
    On Street
    Basement
    Partial
    Standard status
    Active
    APN
    059-138-28-0-20-28-003.00-0
    Lot size
    0.08 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Description
    MCPHERSON O.T.S., S28, T19, R03, BLOCK 54, Lot 18
    Tax Annual Amount
    5437

    Utilities

    Utilities
    Water Available

    Building Details

    Year built
    1900
    Flooring type
    Wood
    Building materials
    Brick, Stucco
    Roof type
    Flat

    We can help!

    Listing Contact
    Jeff Odermann
    Jeff Odermann

    Listing agent Jeff Odermann License #SP00232401

    Listing office Four Seasons Realtors 1020 N Main, McPherson, KS

    Listing date Jun 3, 2026

    MLS# 54858

    Copyright © 2026 Mid-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

    • Commercial building (sale includes building only) with existing leases for ~2,500 SF at 224 N Main and ~1,000 SF at 110 E Euclid
    • New TPO roof system installed in 2022
    • In 2021: new water line added between the meter and the building
    • In 2021: north exterior parapet wall rebuilt and painted
    • Construction materials include brick and stucco; flat roof
    • Wood flooring; on‑street parking; water available

    Overview

    This for-sale commercial building is being offered as a building-only sale, with existing leases in place tied to space at 224 N Main and 110 E Euclid. Recent improvements include installation of a new water line between the meter and the building, completed in 2021, and repairs to the north exterior parapet wall, which was rebuilt and painted. In 2022, the building received a complete new TPO roof system.

    The property is located in downtown McPherson, Kansas, with referenced leased areas on two addresses as part of the current arrangement. The sale terms indicate the leased commercial spaces remain in place, supporting continuity for an owner purchasing the structure.

    For tenants, this setup may be attractive for businesses seeking an established, leased building environment. For buyers, the building-only offering can simplify acquisition by focusing on the structure while leases continue to cover the approximately 2,500 sq ft at 224 N Main and approximately 1,000 sq ft at 110 E Euclid, based on the provided listing remarks. Prospective investors and owner-users should review the existing lease details and the specific leased premises tied to each address as part of their due diligence.
    Property Profile Location Intelligence

    Current Use by Public Records

    L&LAdvisors - Jana McKinney Insurance Agency China Star Restaurant Restaurant China Star sushi ... Restaurant

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    McPherson
    County
    McPherson
    State
    Kansas
    Longitude
    -97.666678
    Latitude
    38.37133

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    FAQs

    What type of property is this?
    Conventional restaurant - Commercial building with recent water-line work and a newly installed TPO roof system.
    Where is this conventional restaurant located?
    The property is located at 224 N Main St McPherson, KS.
    What is the asking price?
    The asking price for this property is $155,000.
    What are key features of this property?
    This property features: Commercial building (sale includes building only) with existing leases for ~2,500 SF at 224 N Main and ~1,000 SF at 110 E Euclid; New TPO roof system installed in 2022; In 2021: new water line added between the meter and the building
    (620) 245-1068
    We can help!
    Listing Contact
    Jeff Odermann
    Jeff Odermann
    Real Estate License ID: SP00232401
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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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    224 N Main St, McPherson, KS 67460
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