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    201 Pennsylvania Ave, Independence, KS 67301

    0.23 ac lot Built 1920
    Property ID
    Property summary
    AI-generated overview

    This remarkable 52,000 square foot building, originally constructed in 1920 as the Commercial National Bank, presents a unique investment opportunity in Independence, Kansas. The solid concrete structure, including roof and floors, boasts a rich history and impressive features. Significant upgrades include modified roofs (installed approximately 4-5 years ago with a 30-year lifespan) and Kawneer windows (installed in 1997 at an approximate cost of $500,000). The building includes two elevators, one original and one recently updated (work completed September 2021). The functional basement offers ample workspace and two bathrooms. Accessibility features include an ADA entrance and a first-floor ADA bathroom. Two walk-in safes remain, one fully operational. The building retains original architectural details, such as the ornate ceilings and the former boardroom. The property is heated by a steam system with an annually inspected boiler (replaced in 1994). Currently 50% occupied, significant office space is available, including former pharmacy and restaurant areas. The 0.23-acre lot is located at 201 N Pennsylvania Avenue, Independence, KS 67301. Detailed financials are available to qualified buyers upon request. This landmark building offers substantial potential for a variety of uses.

    Property profile
    Verified
    Property type Specialty properties
    Year built 1920
    Lot 0.23 ac (10,019 SF)
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
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    Owner & transaction history
    Owner on record
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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