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    Turn-Key Ottawa Commercial Opportunity Title is generated by Realmo AI

    825 S Main Street, Ottawa, KS 66067

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    Claim this Listing
    For Sale
    $550,000

    COMMERCIAL - Ottawa, KS

    Lot size:
    0.17 Acres
    Added:
    Mar 25, 2026
    Days on Market:
    50
    Last Refresh:
    May 13 at 11:06 am

    Property Features for 825 S Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Interior features
    Private Restroom
    Standard status
    Active
    APN
    131-02-0-10-12-006.00-0
    Lot size
    0.17 Acres

    Taxes and HOA fees

    Tax Description
    SHELDON & ATKINSON , BLOCK 2 , LOT 25 27 , SECTION 02 TOWNSHIP 17 RANGE 19E
    Tax Annual Amount
    1173

    Utilities

    Utilities
    Water Available

    Building Details

    Year built
    1920
    Floors in Building
    2

    We can help!

    Listing Contact
    Mandi Rae Gipson
    Mandi Rae Gipson

    Listing agent Mandi Rae Gipson License #SP00235071

    Listing office RE/MAX Connections 2025 S Princeton, Ottawa, KS

    Listing date Mar 25, 2026

    MLS# 2609601

    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

    • Special use permit approved for specialized residential use, high‑capacity rentals, or corporate retreat.
    • Five bedrooms, each with a private ensuite bathroom featuring rain showers and pre‑wiring for Washlets.
    • Commercial‑grade infrastructure including a metal roof, LP Smart Siding, commercial‑grade flooring, fire sprinkler system, Knox Box, and emergency exit.
    • High‑capacity utilities: dual HVAC systems, two sump pumps, and a 199k BTU on‑demand hot water system.
    • Prime location on Main Street, near Ottawa University campus.
    • Fully renovated with new utilities: 200 Amp service, PEX plumbing, 2" water mains, LED lighting, and smart access/code entry.

    Overview

    Located on Main Street, a few blocks from Ottawa University, this property offers high-yield potential in a high-traffic area. It presents a turn-key opportunity with a special use permit. The reconstructed residence features 5 bedrooms, each with a private ensuite including rain showers and pre-wiring for washlets. The property is suited for specialized residential use, high-capacity rentals, or a premium corporate retreat. It includes commercial-grade flooring, a metal roof, and LP Smart Siding. Dual HVAC systems, including a 3-ton unit, two sump pumps, and a 199k BTU on-demand hot water system are in place. A fire sprinkler system, Knox Box, and an upstairs emergency exit meet safety codes. The open-concept living space features 9'+ ceilings, engineered stone tops, and Milgard windows. The property has a 200 Amp service, PEX plumbing, and 2" water mains. Additional features include custom craftsman trim, a full appliance package with a new washer/dryer, refrigerator, and dishwasher, smart access/code entry on all doors, and LED lighting with 7 ceiling fans. The property is built to commercial safety standards, including sprinklers, specialized fire department access, and massive power capacity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Ottawa
    County
    Franklin
    State
    Kansas
    Longitude
    -95.268306
    Latitude
    38.605636

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    FAQs

    What type of property is this?
    Specialty property - High-yield potential near Ottawa University with special use permit.
    Where is this specialty property located?
    The property is located at 825 S Main Street Ottawa, KS.
    What is the asking price?
    The asking price for this property is $550,000.
    What are key features of this property?
    This property features: Special use permit approved for specialized residential use, high‑capacity rentals, or corporate retreat.; **Five bedrooms, each with a private ensuite bathroom featuring rain showers and pre‑wiring for Washlets.**; **Commercial‑grade infrastructure including a metal roof, LP Smart Siding, commercial‑grade flooring, fire sprinkler system, Knox Box, and emergency exit.**
    (785) 418-1421
    We can help!
    Listing Contact
    Mandi Rae Gipson
    Mandi Rae Gipson
    Real Estate License ID: SP00235071
    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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