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    503 Broadway St Larned, KS 67550-3048

    • Retail space
    • 13,251 SF
    • 0.14 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US33-0316599
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Retail space

    Property Details for 503 Broadway St

    Year built
    1890
    Construction
    FRAME
    Lot size
    0.14 lot acres
    Property size
    13,251 SF
    Property type
    Retail space
    APN
    109-32-0-40-17-009.00-0
    APU
    1093204017009000

    Description

    This exceptional mixed-use property, located at 503 Broadway St in Larned, Kansas, presents a unique investment opportunity. The building, encompassing 13,840 square feet on a 13,840 square foot lot, is a two-story structure zoned C-3 Commercial and Industrial, offering significant flexibility for redevelopment. Currently vacant, the main floor previously housed a bar/tavern featuring an open floor plan, ideal for a variety of commercial ventures. The second story, accessible via a separate entrance, presents substantial potential for conversion into multiple apartments, catering to the growing demand for rental housing. The building's prime downtown location in Larned, KS, zip code 67550, ensures high visibility and accessibility. With its substantial square footage and versatile zoning, this property is well-suited for a range of creative redevelopment projects, promising strong returns for the discerning investor. The asking price is $100,000. This represents a compelling opportunity to acquire a significant piece of Larned's commercial landscape and capitalize on its inherent potential. The property is situated in Pawnee County and offers a blank canvas for a savvy investor to create a thriving business and/or residential complex. The building's solid construction and ample space provide a strong foundation for future success.

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Larned
    County
    Pawnee
    State
    Kansas
    Longitude
    -99.0988
    Latitude
    38.1788

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $0.00
    $1,215
    $6,100
    $7,315
    -
    $4,860
    $24,400
    $29,260

    Comparable in this City

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      434 Trl St

      RETAIL STORES (PERSONAL SERVICES) • 864 SF
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      3,198 SF

      118 5th St

      RETAIL STORES (PERSONAL SERVICES) • 3,198 SF
      118 5th St, Larned, KS 67550-3043
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    • Value Estimation by Request
      8,720 SF

      117 5th St

      RETAIL STORES (PERSONAL SERVICES) • 8,720 SF
      117 5th St, Larned, KS 67550-3103
      View Details
    • Value Estimation by Request
      4,788 SF

      117 6th St

      RETAIL STORES (PERSONAL SERVICES) • 4,788 SF
      117 6th St, Larned, KS 67550-3045
      View Details
    • Value Estimation by Request
      1,386 SF

      103 6th St

      RETAIL STORES (PERSONAL SERVICES) • 1,386 SF
      103 6th St, Larned, KS 67550
      View Details

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    503 Broadway St
    Larned, KS 67550-3048
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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.

    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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