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    619 Highway 77 Douglass, KS 67039

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    Claim this Listing
    New
    For Sale
    $900,000

    MULTI_FAMILY - Douglass, KS

    Property size:
    20,147 SF
    Lot size:
    9.40 Acres
    Price / SF:
    $44/SF
    Added:
    Apr 26, 2026
    Days on Market:
    2
    Last Refresh:
    Apr 27 at 4:06 pm

    Property Features for 619 Highway 77

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking
    50
    Appliances
    Dishwasher, Range, Refrigerator
    Standard status
    Active
    APN
    00841-521020600100
    Size
    20,147 SF
    Lot size
    9.40 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    S21 , T29 , R04E , ACRES 9.4 , PT SW4 NW4 BEG 601N SW/C NW4 E189 S73 E TO HWY 77 NE840 W525 S396 W T
    Tax Annual Amount
    7358

    Utilities

    Heating system
    Electric (Heating)
    Cooling system
    Electric
    Water source
    Public

    Building Details

    Year built
    1971
    Number of units
    11
    Building materials
    Frame, Masonry
    Roof type
    Composition

    We can help!

    Listing Contact
    Marti Vo
    Marti Vo

    Listing agent Marti Vo License #BR00054935

    Listing office Nikkel and Associates 3525 N RIDGE RD., Wichita, KS

    Listing date Apr 26, 2026

    MLS# 671909 Listing URL

    Copyright © 2026 South Central 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.

    Overview

    Douglass, KS Multifamily Investment Opportunity

    Located in Douglass, KS, this property features an 11-door rental portfolio situated on 9.4 acres. It includes a fully leased 2,000 sq ft restaurant and 11 remodeled apartments. All existing units have been updated within the last two years and are 100% occupied. The property layout, originally a nursing home, allows for the addition of 8 to 11 more units. Investors can scale by finishing the second hall, adding additional 1- and 2-bedroom units, and potentially incorporating a laundromat or flex-use space. The current income exceeds $10,700 per month, with pro-forma income nearing $20,000 per month once renovations are complete. The northern frontage along Highway 77 is suitable for storage units. The west side borders a new city-built pond and walking trail. Additional acreage along Elm Street supports future residential development. The City of Douglass encourages growth and offers tax abatements and potential grant funding for residential expansion. The seller is willing to assist with city engagement and share a full development vision. The property size is 20,147 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Big Box & Wholesale Store Accounting Firm Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Douglass
    County
    Butler
    State
    Kansas
    Longitude
    -97.006942
    Latitude
    37.514794

    Nearby Similar for Sale

    • $225,000

      Land for Custom Home Build

      Large lots for building your dream home near Douglass.
      13510 SW 220th St, Douglass, KS 67039
      View Details
    • $125,000

      Residential Lot in New Subdivision

      7.3+/- acre corner lot for building your dream home.
      7.3 +/- Acres On SW 220th, Douglass, KS 67039
      View Details

    FAQs

    What type of property is this?
    Apartment building - High-yield, value-add multifamily portfolio with expansion potential on 9.4 acres.
    Where is this apartment building located?
    The property is located at 619 Highway 77 Douglass, KS.
    What is the asking price?
    The asking price for this property is $900,000.
    What are key features of this property?
    This property features: High‑yield, value‑add opportunity with existing cash flow exceeding $10,700/month and pro‑forma income nearing $20,000/month.; Significant expansion potential to add 8‑11 more units with minimal structural changes.; Large 9.4‑acre lot with frontage on Hwy 77 suitable for storage units and additional acreage on Elm Street for future residential development.
    (316) 807-6935
    We can help!
    Listing Contact
    Marti Vo
    Marti Vo
    Real Estate License ID: BR00054935
    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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