Listed By: Neva Thurston Show Phone

Added: Mar 4 Changed: Apr 8

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Investment Insights

Based on property information with market context.

Three lake lots, totaling 0.55 acres, are available within the Tanglewood community, approximately 60 miles from Kansas City. The property features trees and is suitable for building a new home or vacation cabin. Located 8 miles outside of LaCygne and 30 miles from Garnett, Tanglewood consists of three lakes, with the largest lake offering boat recreation and all lakes suitable for fishing. The property is a building site with lake recreation.

Key Highlights

• Tanglewood Lake
• Building Site
• Lake Recreation

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$231,595

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,631,900 $4.6M

Cap Rate 7%

$3,308,500 $3.3M

Cap Rate 9%

$2,573,278 $2.6M

What to ask about pricing

Market Conditions

NOI Build-Up for 23,958 SF

Gross rent

$345.0K $14.40/SF

− Vacancy

−$14.1K −$0.59/SF

EGI

$330.9K $13.81/SF

− OpEx

−$99.3K −$4.14/SF

NOI

$231.6K $9.67/SF

Area

Linn County, KS

Vacancy

4.10%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,631,900

Cap Rate 7%

$3,308,500

Cap Rate 9%

$2,573,278

Alternative Uses

Best Use

Retail

$3.31M

$2.89M – $3.86M (±1% cap)

NOI $231,595 @ 7.0% cap · market cap 774.57%

Second Best

—

—

no second resolved use

Theoretical Best

Office B

$4.71M

$4.12M – $5.50M (±1% cap)

NOI $329,902 @ 7.0% cap · market cap 1,103.35%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Retail properties & Spaces

Suggested Use

Top Pick Big Box & Wholesale Store Hotel & Motel

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

21

Businesses Nearby

Explore this area Business Placement

Demographics for 66040, KS

3,463

Population

2,036

Households

1.7

Avg Household Size

48

Median Age

21%

College-Educated

90%

High-School Grad

134.2 sq mi

ZIP Area

26

Density / Sq Mi

$59,413

Median Household Income

$32,949

Median Earnings

$897

Median Rent

$164,800

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Frequently Asked Questions

What type of property is this?

Other retail property - Lake Lots

Where is this other retail property located?

The property is located at 41 Lou Ann Dr Lacygne, KS.

What are key features of this property?

This property features: Tanglewood Lake; Building Site; Lake Recreation