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

    1120 East St Iola, KS 66749

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Prime Iola location, high growth potential.

    Property Features for 1120 East St

    General Information

    Property type
    Specialty properties
    Lot Size
    13,068 SF

    Building Details

    Year Built
    1950
    Stories
    1

    We can help!

    Listing Contact
    Mark Larson

    Listing Agency: United Country Deer Creek Real Listing Agent: Mark Larson

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional commercial property, located at 1120 East N/A in Iola, Kansas, presents a unique investment opportunity. Listed at $165,000, this single-story building, constructed in 1950, sits on a 0.3-acre lot. Its prime location offers excellent visibility and accessibility, boasting frontage on Highway 54 (East Street), and is conveniently situated just a few blocks from the intersection of Highways 54 and 169. The property's versatility is a key advantage; its current configuration offers significant potential for a variety of uses, including office space and retail businesses. The building's layout allows for easy division into two separate units, creating an opportunity to increase rental income or accommodate multiple tenants. This presents a compelling prospect for investors seeking to capitalize on the current growth experienced in the east side of Iola. The property's existing structure provides a solid foundation for immediate occupancy or renovation to suit specific business needs. Don't miss this chance to acquire a strategically located commercial property in a thriving area. The zip code is 66749, and the property is situated in Allen County, Kansas.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Iola
    County
    Allen
    State
    Kansas
    Longitude
    -95.3911106
    Latitude
    37.922334

    Nearby Similar for Sale

    • $150,000
      0.49 Acres

      Prime Commercial Lot in Iola

      High-traffic location ideal for restaurant or retail venture.
      1119 East St, Iola, KS 66749
      View Details
    • $700,000

      Climate-Controlled Storage Facility For Sale

      Updated climate-controlled storage facility with expansion potential in Allen County.
      712 W Patterson Ave, Iola, KS 66749
      View Details
    • $700,000

      Climate-Controlled Storage Facility For Sale

      Updated storage facility with expansion potential in Allen County, Kansas.
      712 W Patterson Ave, Iola, KS 66749
      View Details
    • Contact for pricing
      28,948 SF

      Versatile Industrial Facility in Iola

      28,948 SF industrial facility in growing regional hub.
      2701 N State St, Iola, KS 66749
      View Details
    • $285,000
      1.14 Acres

      Iola Commercial Building - High Traffic Area

      Prime Iola location, high traffic count, multi-use potential.
      1502 State St, Iola, KS 66749
      View Details
    • $65,000
      0.41 Acres

      Iola Commercial Corner Lot

      High-traffic location, redevelopment opportunity.
      303 State St, Iola, KS 66749
      View Details
    • $224,000

      Iola Warehouse: $224,000

      Prime Iola warehouse, high visibility.
      1303 St St, Iola, KS 66749
      View Details

    FAQs

    What type of property is this?
    Specialty property - Prime Iola location, high growth potential.
    Where is this specialty property located?
    The property is located at 1120 East St Iola, KS.
    What is the asking price?
    The asking price for this property is $165,000.
    What are key features of this property?
    This property features: $165,000 asking price.; Special purpose property built in 1950.; Single-story building on a 0.3-acre lot.
    (620) 496-9054 Call to check price and availability
    Request Owner's contact information
    1120 East St Iola, KS 66749
    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.
    1120 East St
    Iola, KS 66749
    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
    1120 East St Iola, KS 66749
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Mark Larson
    Real Estate License ID: BR00221168
    (620) 496-9054
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!