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    505 16Th St Wellington, KS 67152

    For Sale
    $275,000

    Mixed-use building, prime location, immediate income.

    Property size:
    2,400 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    Invest in this exceptional 2,400 square foot mixed-use commercial property located at 505 E 16th St, Wellington, Kansas, 67152. This creative office space offers a fantastic opportunity for both investors and entrepreneurs. The property features two units, one currently leased for $1,200 per month, generating immediate rental income. Previously a pharmacy, the building boasts a convenient drive-thru, ensuring high visibility and accessibility. Each unit includes a private bathroom and a large main area (14x38 feet), along with a spacious north room (16x30 feet). The asking price is $275,000. This versatile property is ideal for a variety of businesses and presents a compelling investment opportunity in a thriving Kansas community. Don't miss this chance to own a piece of Wellington's commercial landscape. Contact us today to schedule a viewing.

    Property Features for 505 16Th St

    General Information

    Property type
    Office space
    Square Feet
    2,400 SF

    HighLights

    • 2,400 SF mixed‑use commercial property in Wellington, KS.
    • Currently generating $1,200/month in rental income from one leased unit.
    • Features a drive‑thru, enhancing visibility and accessibility.
    • Each unit includes a private bathroom, a 14x38 ft main area, and a 16x30 ft north room.
    • Asking price: $275,000.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Wellington
    County
    Sumner
    State
    Kansas
    Longitude
    -97.3934252
    Latitude
    37.2759582

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    FAQs

    What type of property is this?
    Office space - Mixed-use building, prime location, immediate income.
    Where is this office space located?
    The property is located at 505 16Th St Wellington, KS.
    What is the asking price?
    The asking price for this property is $275,000.
    What are key features of this property?
    This property features: 2,400 SF mixed-use commercial property in Wellington, KS.; Currently generating $1,200/month in rental income from one leased unit.; Features a drive-thru, enhancing visibility and accessibility.
    Request Owner's contact information
    505 16Th St Wellington, KS 67152
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    Wellington, KS 67152
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    Realmo Value Estimation

    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.

    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
    505 16Th St Wellington, KS 67152
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