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    All-Brick Restaurant and Bar Title is generated by Realmo AI

    824 W HWY 24, Goodland, KS 67735

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    All-brick restaurant and bar with two dining rooms, dedicated bar, and a well-equipped commercial kitchen.

    Type:Office
    Added:
    Jun 2, 2026
    Days on Market:
    5
    Last Refresh:
    Jun 6 at 3:21 am

    Property Features for 824 W HWY 24

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    1960

    We can help!

    Listing Contact
    TJ Hawkins

    Listing agent TJ Hawkins

    Listing office Land 2 Legacy Real Estate

    Listing date Jun 2, 2026

    Source Crexi

    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 Land 2 Legacy Real Estate

    HighLights

    • All‑brick restaurant and bar building built in 1960
    • Two separate dining rooms plus a dedicated bar area for guest service and events
    • Commercial kitchen includes prep station, dishwashing area, and regularly serviced hood ventilation
    • Kitchen storage and refrigeration: one walk‑in freezer and one walk‑in cooler
    • Covered outdoor dining area with fireplace and waterfall feature
    • Loading/unloading dock and partial basement for additional storage

    Overview

    This all-brick restaurant and bar property is built for day-to-day food and beverage operations, with two separate dining rooms plus a dedicated bar area. A well-maintained commercial kitchen supports efficient workflow, including a prep station and dishwashing area, and includes one walk-in freezer and one walk-in cooler. The hood ventilation systems are regularly serviced, and there is a manager’s office for on-site administration. For guest and staff convenience, the building also includes a partial basement for additional storage, along with a loading/unloading dock for deliveries.

    The property offers a covered outdoor dining area designed for year-round service, featuring a fireplace and a waterfall feature. Parking is available on site, and the facility is described as having strong curb appeal for attracting guests.

    For operators seeking a ready-to-run restaurant setup, the combination of indoor dining flexibility, a dedicated bar, and a functional kitchen with temperature-controlled storage supports a range of service styles and event needs. The on-site loading dock and storage footprint can also help streamline inventory handling and back-of-house organization.
    Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Suggested Use

    Parking Lot & Garage

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

    Location Insight

    • Map
    • Local Demand
    City
    Goodland
    County
    Sherman
    State
    Kansas
    Longitude
    -101.926101
    Latitude
    39.336345

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    FAQs

    What type of property is this?
    Conventional restaurant - All-brick restaurant and bar with two dining rooms, dedicated bar, and a well-equipped commercial kitchen.
    Where is this conventional restaurant located?
    The property is located at 824 W HWY 24 Goodland, KS.
    What is the asking price?
    The asking price for this property is $485,000.
    What are key features of this property?
    This property features: All‑brick restaurant and bar building built in 1960; Two separate dining rooms plus a dedicated bar area for guest service and events; Commercial kitchen includes prep station, dishwashing area, and regularly serviced hood ventilation
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    TJ Hawkins
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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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