Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    K-18 & Miller Parkway Manhattan KS Manhattan, KS 66503

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Commercial lots in SW Manhattan development near K-18 Expressway.

    Type:Land
    Lot size:
    2.68 Acres
    Added:
    Nov 2, 2021
    Days on Market:
    1632
    Last Refresh:
    Mar 17 at 1:15 pm

    Property Features for K-18 & Miller Parkway Manhattan KS

    General Information

    Standard status
    Active
    Lot size
    2.68 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Brady Lundeen

    Listing agent Brady Lundeen License #KS 00234800

    Listing office Kansas Commercial Real Estate Services Inc

    Listing date Nov 2, 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 Kansas Commercial Real Estate Services Inc

    Overview

    Manhattan Commercial Lots for Sale

    Located in the southwest of Manhattan, these commercial lots are situated within a new development. The available lots range in size, with individual parcels measuring between 1.70 and 3.27 acres. The location is on or near the planned extension of Amherst Avenue at Miller Parkway, as well as the site of the upcoming Americare assisted living facility, which will include 50 beds and independent cottages. The area is near the K-18 Expressway and the Miller Ranch and Lee Mill Heights residential neighborhoods. Potential uses for the property include professional offices or a daycare center.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Manhattan
    County
    Riley
    State
    Kansas
    Longitude
    -96.6054614
    Latitude
    39.2039495

    Nearby Similar for Sale

    • $975,000

      Modern Triplex Near Campus

      2021-built triplex near campus with strong cash flow.
      903 Sunset Avenue, Manhattan, KS 66502
      View Details
    • $295,000

      Duplex Near K-State and Aggieville

      Turnkey duplex investment property near K-State with long-term leases.
      512 Bluemont Avenue, Manhattan, KS 66502
      View Details
    • $597,000

      Manhattan Duplexes Package Deal

      Three well-maintained duplexes near K-State, offering six units.
      1213-1215 Yuma St, Manhattan, KS 66502
      View Details
    • $597,000

      Manhattan Duplexes Package Deal

      Three well-maintained duplexes in Manhattan with strong rental history.
      1209-1211 Yuma St, Manhattan, KS 66502
      View Details
    • $597,000

      Manhattan Duplexes Package Deal

      Three well-maintained duplexes near K-State with strong rental history.
      1205-1207 Yuma St, Manhattan, KS 66502
      View Details
    • $305,000

      Manhattan Multi-Family Investment Opportunity

      Well-maintained duplex with reliable rental income in Manhattan, Kansas.
      809 Moro Street, Manhattan, KS 66502
      View Details
    • $250,000

      Manhattan Multifamily Investment Opportunity

      Two-unit property with long-term tenants and recent roof replacement.
      408 S 6th Street, Manhattan, KS 66502
      View Details
    • $675,000

      Prime Development Location in Manhattan

      Commercial land near Aggieville, K-State, and City Park.
      513 N 16th St., Manhattan, KS 66502
      View Details
    • $364,900

      Manhattan Multifamily Investment Opportunity

      Six-unit apartment building near Aggieville and KSU campus.
      917 Laramie Street, Manhattan, KS 66502
      View Details
    • $324,900

      Manhattan Multifamily Investment Opportunity

      Four-unit property near campus, fully rented through summer 2026.
      1114 Vattier Street, Manhattan, KS 66502
      View Details
    • $265,000

      Manhattan Duplex: Investment Opportunity

      East-side Manhattan duplex, move-in ready, great investment or house-hacking.
      2310/2312 Willow Lane, Manhattan, KS 66502
      View Details
    • $54,900

      Residential Land Backing Community Park

      Half-acre corner lot backing to Roger Schultz Community Park.
      Lichen Circle, Manhattan, KS 66503
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial lots in SW Manhattan development near K-18 Expressway.
    Where is this commercial land located?
    The property is located at K-18 & Miller Parkway Manhattan KS Manhattan, KS.
    What are key features of this property?
    This property features: Located in a new development in SW Manhattan.; Near the planned extension of Amherst Avenue at Miller Parkway.; Proximity to the soon‑to‑be‑constructed Americare assisted living facility.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Brady Lundeen
    Real Estate License ID: KS 00234800
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!