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    104 Elm St Salina, KS 67401

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    104 Elm St Salina, KS 67401

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    • Office properties & Spaces
    • 3,696 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 104 Elm St

    Year built
    1970
    Property size
    3,696 SF
    Property type
    Office properties & Spaces

    Description

    This exceptional single-tenant office building, located at 104 W. Elm St, Salina, KS 67401, presents a rare opportunity. Situated on a 3,696 square foot lot at the corner of Santa Fe Avenue and Elm Street, this 3,696 square foot Class B building offers a versatile layout ideal for a variety of businesses. Built in 1970 and extensively renovated in 2009, the property boasts 10-foot ceilings throughout. The interior features several private offices, a dedicated conference room, a welcoming reception area, and a convenient kitchenette. Adding to its functionality is a small warehouse space complete with an overhead door, providing ample storage or workshop potential. The building is a single-story structure with no elevators. Zoned C-6, this property benefits from its proximity to key establishments including Star Lumber, Lee Building Lofts, the Fire Department, Public Library, City/County Building, and The Alley Fun Center. Lease terms and rates are negotiable. This is a fantastic opportunity to secure a well-maintained, centrally located office space in a thriving downtown area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Salina
    County
    Saline
    State
    Kansas
    Longitude
    -97.6096
    Latitude
    38.8452

    Comparable in this City

    • Value Estimation by Request
      2,936 SF

      328 13th St

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      328 13th St, Salina, KS 67401-2127
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    • Value Estimation by Request
      0.65 Acres

      1900 Tonys Rd

      OFFICE (GENERAL) • 0.65 Acres
      1900 Tonys Rd, Salina, KS 67401-1749
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      4,140 SF

      721 Diamond Dr

      OFFICE (GENERAL) • 4,140 SF
      721 Diamond Dr, Salina, KS 67401-9544
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      2,400 SF

      736 Duvall Ave

      OFFICE (GENERAL) • 2,400 SF
      736 Duvall Ave, Salina, KS 67401-4543
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    • Value Estimation by Request
      5,500 SF

      234 7th St

      OFFICE (GENERAL) • 5,500 SF
      234 7th St, Salina, KS 67401-2302
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    • Value Estimation by Request
      1,600 SF

      850 En St

      OFFICE (GENERAL) • 1,600 SF
      850 En St, Salina, KS 67401-2431
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    Similar Nearby for Sale

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      16,611 SF

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    • $270,000
      Pending

      Warehouse Near I-70 & 135

      Commercial/Industrial zoned warehouse with office space and ample parking.
      831 N 8Th St, Salina, KS 67401
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      Land Available For Sale

      Land available for sale in Salina, Kansas.
      00000 Water Well Rd, Salina, KS 67401
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    Similar Nearby for Lease

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      Commercial Space Available For Lease

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      Single Tenant Office Space

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      Freestanding Building in Retail Corridor

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      Office Building with Warehouse Space

      Office building featuring offices, conference room, kitchenette, and warehouse.
      104 W Elm St, Salina, KS 67401
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      514 N Santa Fe Ave, Salina, KS 67401

      Flex space
      514 N Santa Fe Ave, Salina, KS 67401
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    • Contact for pricing

      Office Space on Iron Avenue

      Office space for rent with utilities included and ample parking.
      645 E Iron Ave, Salina, KS 67401
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    104 Elm St
    Salina, KS 67401
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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.

    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
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