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    303 State St Iola, KS 66749

    For Sale
    $65,000

    High-traffic location, redevelopment opportunity.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This 0.41-acre commercial property at 303 S State Street in Iola, Kansas, presents a unique redevelopment opportunity. Currently listed at $65,000, the property consists of three lots situated on a prime corner location with high visibility and traffic volume on State Street. The existing structure has been deemed uninhabitable and condemned by the city, requiring demolition. Entry onto the property is at one's own risk due to the building's condition. The lots are currently zoned commercial, offering flexibility for various business ventures. Post-demolition, the Allen County will reassess property taxes. The property's strategic location near Highway 54, a public park, and a new state park under development, enhances its potential. This presents an exceptional chance for entrepreneurs to establish a business in a high-traffic area with significant growth potential. The property's size and location make it ideal for a variety of commercial uses, capitalizing on the substantial traffic flow and proximity to key amenities. This is a rare opportunity to acquire a well-positioned commercial lot in a growing area. The zip code is 66749.

    Property Features for 303 State St

    General Information

    Property type
    Specialty properties
    Lot Size
    17,860 SF
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    Iola
    County
    Allen
    State
    Kansas
    Longitude
    -95.4088471
    Latitude
    37.9197668

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    FAQs

    What type of property is this?
    Specialty property - High-traffic location, redevelopment opportunity.
    Where is this specialty property located?
    The property is located at 303 State St Iola, KS.
    What is the asking price?
    The asking price for this property is $65,000.
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    303 State St Iola, KS 66749
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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
    303 State St Iola, KS 66749
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