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    Versatile Building with Income Potential Title is generated by Realmo AI

    300 E Main Street, Parsons, KS 67357

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    Claim this Listing
    For Sale
    $1,600,000

    SINGLE_FAMILY - Parsons, KS

    Type:Office
    Lot size:
    6.10 Acres
    Added:
    Aug 23, 2024
    Days on Market:
    629
    Last Refresh:
    May 13 at 11:06 am

    Property Features for 300 E Main Street

    General Information

    Property type
    Residential
    Property subtype
    Office
    Zoning
    Church
    Parking
    250
    Parking features
    Parking Lot
    Interior features
    Storage
    Exterior features
    Delivery Door(s), Display Window
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    APN
    r2824
    Lot size
    6.10 Acres

    Taxes and HOA fees

    Tax Description
    S20, T31, R20, ACRES 6.1, BEG 600'E & 105'S NW/C NE1/4 E 183' S295' E120' S505' W403' N635' E100' N POB, CITY OF PARSONS, LABETTE COUNTY, KS

    Utilities

    Utilities
    Water Available

    Building Details

    Year built
    1980
    Floors in Building
    2
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Stephanie Reitemeier

    Listing agent Stephanie Reitemeier License #00243229

    Listing office Golden Oak Real Estate LLC 410 Main St, Parsons, KS

    Listing date Aug 23, 2024

    MLS# 2505743

    Copyright © 2026 Heartland Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Large 71,734 sq ft building on 6.1 acres suitable for various uses.
    • Income potential with over half the building currently leased.
    • Ample parking with space for 250 vehicles.
    • Includes a 500‑seat auditorium, a 100‑seat auditorium, and a 60x90 gymnasium.
    • Features four overhead doors and a loading dock.
    • Unfinished second level offers potential for expansion.

    Overview

    This versatile 71,734 sq ft building presents a commercial opportunity with income potential. Situated on 6.1 acres, the property includes parking for 250 vehicles and a sprinkler system throughout. Originally a Walmart and now functioning as a church, the facility features 27 HVAC units (currently only using 10 furnaces and 8 AC units). The roof has a rubberized covering that was replaced approximately 13 years ago. Inside, there is a 500-seat auditorium, a 100-seat auditorium, and a 60x90 gymnasium. The layout also includes three large classrooms, eight offices, a media room, a nursery with a restroom, and a family restroom. The front lobby features 21' ceilings and new front doors equipped with an electric eye and sloped roof. Four overhead doors and a loading dock are located on the west side. The unfinished second level offers potential for expansion and includes roof access and a restroom. Currently, over half of the building is occupied on a month-to-month lease, which is transferrable. This property is located in Parsons, KS and is suitable for large congregations, educational facilities, or businesses needing extensive space, parking, and warehouse space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Churches & religious facilities

    Suggested Use

    Restaurant Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Auto Parts Store Department Store Bar & Pub Hotel & Motel Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Parsons
    County
    Labette
    State
    Kansas
    Longitude
    -95.237818
    Latitude
    37.338793

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    FAQs

    What type of property is this?
    Church & religious facility - 71,734 sq ft building on 6.1 acres with parking.
    Where is this church & religious facility located?
    The property is located at 300 E Main Street Parsons, KS.
    What is the asking price?
    The asking price for this property is $1,600,000.
    What are key features of this property?
    This property features: Large 71,734 sq ft building on 6.1 acres suitable for various uses.; Income potential with over half the building currently leased.; Ample parking with space for 250 vehicles.
    (620) 423-2209
    We can help!
    Listing Contact
    Stephanie Reitemeier
    Real Estate License ID: 00243229
    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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