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    Renovation-Ready Multifamily Building Title is generated by Realmo AI

    814 Walnut Street, Chetopa, KS 67336

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    Claim this Listing
    For Sale
    $135,000

    COMMERCIAL - Chetopa, KS

    Lot size:
    0.53 Acres
    Added:
    May 26, 2026
    Days on Market:
    11
    Last Refresh:
    Jun 5 at 1:06 am

    Property Features for 814 Walnut Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    R-3
    Parking features
    Parking Lot
    Interior features
    In-Law Floorplan, Private Restroom, Public Restroom
    Exterior features
    Building Sign, Delivery Door(s)
    Standard status
    Active
    APN
    208-34-1-30-20-001.00-0
    Lot size
    0.53 Acres

    Taxes and HOA fees

    Tax Description
    HODGES' ADD, S34, T34, R21, BLOCK 8 LTS 1 - 5 & VAC ALLEY; CHETOPA ORIG CITY, BLOCK 74 S67' LTS 4 - 5
    Tax Annual Amount
    4916

    Utilities

    Utilities
    Water Available

    Building Details

    Year built
    1964
    Floors in Building
    1

    We can help!

    Listing Contact
    Susan Hyde

    Listing agent Susan Hyde

    Listing office Keller Williams Realty Partners Inc. 6850 College Blvd., Overland Park, KS

    Listing date May 26, 2026

    MLS# 2622172

    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

    • High potential for multi‑door apartment conversion (see Seller's Investment Opportunity document).
    • Existing structure with multiple bedroom quarters and bathrooms.
    • Large common areas, storage, utility rooms, and kitchen area already in place.
    • All materials and furnishings included in the sale.
    • In‑law floorplan offers flexible living arrangements.
    • Building includes a parking lot.

    Overview

    This multi-use building, formerly known as Chetopa Manor, offers strong renovation optionality for operators considering multi-door apartment living. The interior is set up with multiple bedroom quarters, adjoining full bathrooms, and both private living areas and larger common areas. Additional features include storage, utility rooms, and kitchen area, providing a functional starting point for conversion work. Some updates and improvements are currently in progress, and the sale includes all materials and furnishings, as stated in the listing.

    Located at 814 Walnut Street in Chetopa, Kansas, the property sits on a 0.53-acre lot. Zoning is listed as R-3, aligning with residential use planning for potential apartment conversion or continued residential income operations.

    With its existing rooming and shared-space configuration, the building is best suited for buyers looking for value through renovation and reconfiguration into multiple separate apartment doors. The listing directs prospective purchasers to the Seller’s Investment Opportunity document for apartment conversion considerations, projected financials, and ROI assumptions. For experienced investors or owner-operators ready to complete the improvements and refine unit layouts, this is a compelling repositioning candidate.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Restaurant Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Hotel & Motel Pharmacy Auto Parts Store Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Chetopa
    County
    Labette
    State
    Kansas
    Longitude
    -95.094679
    Latitude
    37.037885

    Nearby Similar for Sale

    • $135,000
      12,969 SF

      Chetopa Multi-Use Renovation Opportunity

      Multi-use building with renovation potential in Chetopa, Kansas.
      814 Walnut Street, Chetopa, KS 67336
      View Details
    • $50,000

      Chetopa Car Wash Opportunity

      Multi-bay car wash with laundromat conversion potential in Chetopa, KS.
      610 Maple Street, Chetopa, KS 67336
      View Details
    • $135,000

      Specialty Commercial Property For Sale

      A specialty property available for purchase in Labette County with convenient regional highway access for owner-operators and investors.
      814 Walnut N/A, Chetopa, KS 67336
      View Details

    FAQs

    What type of property is this?
    Apartment building - Renovation-ready multifamily property with multi-door unit potential and in-progress updates.
    Where is this apartment building located?
    The property is located at 814 Walnut Street Chetopa, KS.
    What is the asking price?
    The asking price for this property is $135,000.
    What are key features of this property?
    This property features: High potential for multi‑door apartment conversion (see Seller's Investment Opportunity document).; Existing structure with multiple bedroom quarters and bathrooms.; Large common areas, storage, utility rooms, and kitchen area already in place.
    (913) 633-0757
    We can help!
    Listing Contact
    Susan Hyde
    Request Owner's contact information
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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.

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