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    601 Commercial St Emporia, KS

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    For Sale
    $495,000

    Fully operational bar and dance hall in revitalized 1901 building.

    Type:RETAIL
    Property size:
    11,736 SF
    Lot size:
    0.14 Acres
    Added:
    Jul 14, 2025
    Days on Market:
    262
    Last Refresh:
    Mar 29 at 8:13 pm

    Property Features for 601 Commercial St

    General Information

    Standard status
    Active
    Size
    11,736 SF
    Lot size
    0.14 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Todd Woodburn
    Todd Woodburn

    Listing agent Todd Woodburn License #00048131

    Listing office At Home Wichita Real Estate

    Listing date Jul 14, 2025

    Source Moodyscre

    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 At Home Wichita Real Estate

    Overview

    Iconic Emporia Nightlife Destination

    Located at 605 Commercial Street in downtown Emporia, this 11,736 square foot property houses a fully operational bar and dance hall known as The Bourbon Cowboy. The business, housed in a revitalized 1901 building, combines vintage charm with modern amenities. As a certified woman-owned country-western venue, it features a spacious main bar and dance floor suitable for live music, DJs, and mechanical bull riding. A popular pool hall is also on site. The second floor and outdoor patio provide additional space for private events, live shows, or seasonal gatherings. Licensed and equipped to host up to 285 guests, the venue is suitable for concerts, corporate events, and celebrations. The weekly calendar includes open mic nights, karaoke, jam sessions, and live bands. The sale includes all furniture, fixtures, and equipment, along with branding and social media accounts. The property is suitable for expanding food offerings, daytime hours, event partnerships, or catering private functions.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop Big Box & Wholesale Store

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

    Similar Places Nearby

    • Harry and Lloyd's East — 728 E 6th Ave, Emporia, KS 66801
    • Flashy Lounge — 707 Commercial St, Emporia, KS 66801
    • Town Royal — 405 Commercial St, Emporia, KS 66801
    • Mulready's Pub — 717 Commercial St, Emporia, KS 66801
    • Charlie's Place — 116 Commercial St, Emporia, KS 66801

    Location Insight

    • Map
    • Local Demand
    City
    Emporia
    County
    Lyon
    State
    Kansas
    Longitude
    -96.1806
    Latitude
    38.3902

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    FAQs

    What type of property is this?
    Bar & Pub - Fully operational bar and dance hall in revitalized 1901 building.
    Where is this bar & pub located?
    The property is located at 601 Commercial St Emporia, KS.
    What is the asking price?
    The asking price for this property is $495,000.
    What are key features of this property?
    This property features: Turn‑key, fully operational bar and dance hall (11,736 sq ft) with existing revenue and strong local following.; Licensed for **285 guests**, suitable for concerts, corporate events, and celebrations.; Includes all furniture, fixtures, equipment, branding, and social media accounts.
    (316) 312-0400
    We can help!
    Listing Contact
    Todd Woodburn
    Todd Woodburn
    Real Estate License ID: 00048131
    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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