Building Details

Year built 1950

Floors in Building 1

Flooring type Concrete

Building materials Concrete

Roof type Composition

Listing Agency: KW One Legacy Partners, LLC · Keller Williams Realty k***@kw.com Show Phone

Listed By: Sandra Haines · License #SP00233997 Show Phone

Added: Jun 24 Changed: Aug 4 Last Checked: Aug 11 at 6:06PM

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MLS# 245229

Copyright © 2026 Sunflower Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This 7,316-square-foot commercial building was previously used as a grocery store and retains coolers on site. Concrete construction and concrete flooring provide durable interior finishes, while the composition roof dates to a property built in 1950. A parking lot serves the building.

The property is located at 901 Oak ST in Valley Falls, Kansas, along K-16 Highway. Public water and electricity are available, providing core utility infrastructure for the site. The existing grocery-oriented improvements and equipment remain part of the property.

Key Highlights

• 7,316‑square‑foot commercial building
• Coolers remain on site from prior grocery‑store use
• Concrete construction and concrete flooring

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$42,404

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

8.93%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$848,080 $848.1K

Cap Rate 7%

$605,771 $605.8K

Cap Rate 9%

$471,156 $471.2K

Market Conditions

NOI Build-Up for 7,316 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$65.8K $9.00/SF

− Vacancy

−$5.3K −$0.72/SF

EGI

$60.6K $8.28/SF

− OpEx

−$18.2K −$2.48/SF

NOI

$42.4K $5.80/SF

Area

Jefferson County, KS

Vacancy

8.00%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$848,080

Cap Rate 7%

$605,771

Cap Rate 9%

$471,156

Alternative Uses

Best Use

Specialty Retail

$751.6K

$657.6K – $876.8K (±1% cap)

NOI $52,609 @ 7.0% cap · market cap 11.08%

Second Best

Retail

$605.8K

$530.1K – $706.7K (±1% cap)

NOI $42,404 @ 7.0% cap · market cap 8.93%

Theoretical Best

Self Storage

$825.2K

$722.1K – $962.8K (±1% cap)

NOI $57,767 @ 7.0% cap · market cap 12.16%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Country Harvest Apple ... Grocery & Convenience Store

Suggested Use

Top Pick Dental Office Real Estate Agency (Bike/Boat/Book/etc) Store Law Firm Big Box & Wholesale Store Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

158

Businesses Nearby

5k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Dollar General Shops & Services

4,786 visits/mo 0.4 miles

Demographics for 66088, KS

2,310

Population

1,210

Households

1.9

Avg Household Size

42

Median Age

22%

College-Educated

95%

High-School Grad

120.0 sq mi

ZIP Area

19

Density / Sq Mi

$73,125

Median Household Income

$46,000

Median Earnings

$738

Median Rent

$186,700

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this grocery and convenience stores located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Grocery and convenience store - The building includes on-site coolers, concrete flooring, and a parking lot.

Where is this grocery and convenience store located?

The property is located at 901 Oak ST Valley Falls, KS.

What is the asking price?

The asking price for this property is $475,000.

What are key features of this property?

This property features: 7,316‑square‑foot commercial building; Coolers remain on site from prior grocery‑store use; Concrete construction and concrete flooring