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    511 Main Street Wellsville, KS 66092

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    Claim this Listing
    For Sale
    $400,000

    SINGLE_FAMILY - Wellsville, KS

    Type:Office
    Lot size:
    0.06 Acres
    Added:
    Jan 20, 2026
    Days on Market:
    100
    Last Refresh:
    Apr 30 at 6:06 pm

    Property Features for 511 Main Street

    General Information

    Property type
    Residential
    Property subtype
    Office
    Zoning
    comm
    Parking features
    On Street
    Interior features
    Storage, Private Restroom, Public Restroom
    Exterior features
    Display Window
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    APN
    018-28-0-10-27-007.00-0
    Lot size
    0.06 Acres

    Taxes and HOA fees

    Tax Description
    Elders Right of way ADD. TR BEG SW/C LT 2 BLK C N21 E115 S21 W115 to POB S28 T15 R21E
    Tax Annual Amount
    4906

    Utilities

    Utilities
    Water Available

    Building Details

    Year built
    1910
    Floors in Building
    1
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Chris Dowell
    Chris Dowell

    Listing agent Chris Dowell License #SP00043224

    Listing office Compass Realty Group 900 W 48th Place Ste 120, Kansas City, KS

    Listing date Jan 20, 2026

    MLS# 2596427

    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.

    Overview

    Versatile Commercial Property with Suites

    This commercial property features a well-configured interior with five private offices and two separate suites, suitable for various business needs. There are two main restrooms, each equipped with a sink and tile flooring. A dedicated hot water tank and a Concord high-efficiency furnace serve the main area. The five individual offices provide flexible workspace with the following dimensions: Office 1 at 12.5' x 9', Office 2 at 12.5' x 10', Offices 3 and 4 at 15' x 12.5' each, and Office 5 at 15' x 15.5'. Suite 1 includes a functional kitchen area complete with a tile floor, electric oven, fridge, and sink. A second suite measures 24' x 20' and features carpet, a separate back door entrance, a private bathroom with tile flooring, a shower in the closet area, and its own dedicated Armstrong furnace. The property combines functional office space with the added value of two distinct suites, offering versatility for a wide range of professional uses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Wellsville
    County
    Franklin
    State
    Kansas
    Longitude
    -95.081559
    Latitude
    38.718839

    Nearby Similar for Sale

    • $449,050

      Renovated Commercial Building in Wellsville

      Turnkey commercial property with a renovated restaurant space and Airbnb.
      510 Main Street, Wellsville, KS 66092
      View Details
    • $4,100,000
      4,973 SF

      Wellsville Industrial Property For Sale

      Industrial property featuring 4,973 square feet in Wellsville, Kansas.
      1023 Poplar St, Wellsville, KS 66092
      View Details

    FAQs

    What type of property is this?
    Office units - Well-configured office space with private suites in Wellsville, KS.
    Where is this office units located?
    The property is located at 511 Main Street Wellsville, KS.
    What is the asking price?
    The asking price for this property is $400,000.
    What are key features of this property?
    This property features: Versatile commercial property with five private offices and two separate suites.; Suite 1 includes a functional kitchen area with tile floor, electric oven, fridge, and sink.; Spacious Suite 2 (24' x 20') features a separate back door entrance, private bathroom with shower, and dedicated Armstrong furnace.
    (913) 243-8050
    We can help!
    Listing Contact
    Chris Dowell
    Chris Dowell
    Real Estate License ID: SP00043224
    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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