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    1010 W Mary St Garden City, KS 67846

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    For Lease
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    2500 sq ft retail/office space with heated garage.

    Type:Retail, Office, Special Purpose
    Property size:
    2,500 SF
    Added:
    Jul 28, 2021
    Days on Market:
    1737
    Last Refresh:
    Mar 17 at 1:17 pm

    Property Features for 1010 W Mary St

    General Information

    Standard status
    Active
    Size
    2,500 SF
    Property subtype
    Retail, Office, Special Purpose

    Building Details

    Year Built
    1999

    Spaces For Lease

    at 1010 W Mary St Contact us

    $11 /Mo

    Size
    2,500 SF
    Type
    Retail, Office, Special Purpose
    Contact us

    We can help!

    Listing Contact
    Bob Rodriquez

    Listing agent Bob Rodriquez License #KS 00030910

    Listing office Envision Real Estate Inc

    Listing date Jul 28, 2021

    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 Envision Real Estate Inc

    Overview

    Retail/Office Space with Garage

    Located at 1010 W. Mary St., this property features a 2500 sq ft unit available for rent at $2,350 per month under a modified gross lease. The space is suitable for sales and service or retail purposes. It includes a heated 27.8'x16' garage/storage area with an overhead door. The front area is open and flanked by two offices on each side. The back section contains several rooms, station areas, and two restrooms.
    Location Intelligence

    Current Use by Public Records

    Glamour salon Hair Salon

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Garden City
    County
    Finney
    State
    Kansas
    Longitude
    -100.860684
    Latitude
    37.989178

    Nearby Similar for Lease

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      Garden City Office/Retail Space

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      Retail Suites Inside Dillons Stores

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      1211 Buffalo Jones Ave, Garden City, KS 67846
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      Freestanding Retail Building For Rent

      2,708 SF freestanding building with high traffic and visibility.
      1102 N Campus Dr, Garden City, KS
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      Retail Space Near Burlington, Kohl's

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      2310 E Kansas Ave, Garden City, KS
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      Retail Space in Garden City

      2,342 SF retail space with highway visibility available for rent.
      3104 E Kansas Ave, Garden City, KS
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      Industrial Buildings with Acreage

      Two attached industrial buildings totaling 6,700 SF with land.
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      Retail Space on Kansas Avenue

      Retail space available in Garden City's primary retail corridor.
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    FAQs

    What type of property is this?
    Retail space - 2500 sq ft retail/office space with heated garage.
    Where is this retail space located?
    The property is located at 1010 W Mary St Garden City, KS.
    What are key features of this property?
    This property features: 2500 Sq Ft Unit Available - Ideal for Sales, Service, or Retail; Monthly Rent of $2,350 (Modified Gross Lease); Heated 27.8'x16' Garage/Storage with Overhead Door
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Bob Rodriquez
    Real Estate License ID: KS 00030910
    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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