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    740 South St Mankato, KS 66956

    • Office Properties & Spaces
    • 1.20 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Extreme Anglers Bowfishing / Fishing Charter / Hunting Club

    Property Details for 740 South St

    Lot size
    1.20 lot acres
    Property type
    Office Properties & Spaces

    Description

    This exceptional Mankato, Kansas commercial property, located at 740 E. South St. on Hwy 36, offers a 7,600+ sq ft facility on 1.2 acres. Currently housing the established Buffalo Roam Steakhouse, this turn-key operation boasts a 350-person seating capacity and parking for approximately 100 vehicles. The restaurant features multiple dining rooms, buffet and menu options, catering to diverse events from small gatherings to large parties. Its strong customer base extends beyond the local area, drawing patrons from distant counties and even out-of-state. Recent upgrades include a new roof (2022), new AC units, a new hood and fire suppression system, and on-demand hot water units. All equipment, chairs, and tables are included. Financial statements are available to qualified buyers upon request. The property's versatility allows for continued operation of the existing business, the establishment of a new venture, or use as office space or a manufacturing facility. Property taxes are $2,704 annually. Asking price: $447,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Mankato
    County
    20089
    State
    Kansas
    Longitude
    -98.1995
    Latitude
    39.7852

    Comparable in this City

    • Value Estimation
      $290,000
      2,548 SF

      205 Commercial St

      OFFICE (GENERAL) • 2,548 SF
      205 Commercial St, Mankato, KS 66956-2005
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    • Value Estimation
      $235,000
      480 SF

      228 Ave Montrose

      OFFICE (GENERAL) • 480 SF
      228 Ave Montrose, Mankato, KS 66956
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    • Value Estimation by Request
      6,004 SF

      725 Es St

      OFFICE (GENERAL) • 6,004 SF
      725 Es St, Mankato, KS 66956-2329
      View Details
    • Value Estimation
      $300,000
      7,435 SF

      122 Main St

      OFFICE (GENERAL) • 7,435 SF
      122 Main St, Mankato, KS 66956-2219
      View Details
    • Value Estimation by Request
      2,293 SF

      102 Ctr St

      OFFICE BUILDING (MULTI-STORY) • 2,293 SF
      102 Ctr St, Mankato, KS 66956-2202
      View Details
    • Value Estimation
      $345,000
      4,498 SF

      105 Ws St

      OFFICE BUILDING (MULTI-STORY) • 4,498 SF
      105 Ws St, Mankato, KS 66956-2236
      View Details
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    740 South St
    Mankato, KS 66956
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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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