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    2015 Lincoln St Concordia, KS 66901

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    2015 Lincoln St Concordia, KS 66901

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    • Office properties & Spaces
    • 3.80 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 2015 Lincoln St

    Lot size
    3.80 lot acres
    Property type
    Office properties & Spaces

    Description

    This Concordia, Kansas office property presents a unique investment opportunity. Located at 2015 Lincoln St, this 3.8-acre site offers significant potential for future development. The existing building, while currently listed as 0 square feet in official records, comprises multiple structures. One building measures 75' x 50' and is heated by propane. The remainder of the complex utilizes natural gas for heating. City utilities service the entire property, which also features 3-phase electrical throughout. The building includes air conditioning in the two classroom spaces, offices, and lounge areas. The entire building is heated and insulated. Its strategic location just off Highway 81 provides excellent visibility and accessibility. Nearby amenities include the Holiday Inn Express, a new carwash and charging station, the North Central Kansas Medical Center, Cloud County Community College, a new technology building, a Walmart Supercenter, numerous restaurants, and banks. This property is ideal for investors seeking a versatile site with existing infrastructure and strong potential for expansion or redevelopment in a thriving community. The property's proximity to key services and transportation routes makes it an attractive option for a variety of commercial uses. The large lot size allows for significant flexibility in future development plans.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Concordia
    County
    20029
    State
    Kansas
    Longitude
    -97.6567
    Latitude
    39.5561

    Comparable in this City

    • Value Estimation by Request
      2,592 SF

      301 Greeley St

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    • Value Estimation
      $675,000
      7,776 SF

      310 Washington St

      OFFICE (GENERAL) • 7,776 SF
      310 Washington St, Concordia, KS 66901-1716
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    • Value Estimation by Request
      1,016 SF

      1556 145th Rd

      OFFICE (GENERAL) • 1,016 SF
      1556 145th Rd, Concordia, KS 66901-6893
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    • Value Estimation
      $2,110,000
      20,002 SF

      Hwy 81

      OFFICE (GENERAL) • 20,002 SF
      Hwy 81, Concordia, KS 66901
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    • Value Estimation
      $865,000
      8,232 SF

      1480 Un Rd

      OFFICE (GENERAL) • 8,232 SF
      1480 Un Rd, Concordia, KS 66901-8008
      View Details
    • Value Estimation by Request
      3,180 SF

      1725 6th St

      OFFICE (GENERAL) • 3,180 SF
      1725 6th St, Concordia, KS 66901-2602
      View Details

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    2015 Lincoln St
    Concordia, KS 66901
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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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