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    9Th St Salina, KS 67401
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    Property profile & analytics

    9Th St, Salina, KS 67401

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    • Strip malls
    • 33,150 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Strip malls

    Property Details for 0 9Th St

    Year built
    1987
    Property type
    Strip malls
    Property subtype
    Retail properties & Spaces

    Description

    Galaxy Center, a single-story, 33,150 square foot strip center, presents a unique opportunity for retail or office tenants in Salina, Kansas. Strategically located at the intersection of South 9th Street and Magnolia Road, this property enjoys high visibility and accessibility, situated just one block east of the I-135 interchange, placing it within easy reach of a large customer base. The building, constructed in 1987, features a 12-foot ceiling height and sits on a substantial 135,036 square foot lot. Currently, the center houses a diverse range of established businesses including Mattress Hub, Qdoba Mexican Restaurant, Showcase Jewelers, Express Personnel, and Copy Co. The property is zoned C-5, allowing for a variety of commercial uses. Available spaces range from a minimum of 1,575 square feet to a maximum contiguous space of 3,000 square feet, offering flexibility for businesses of varying sizes. The property's strong tenant mix and prime location, coupled with competitive lease rates and terms, make Galaxy Center an exceptional investment opportunity. Nearby established businesses include Dillon's Supermarket, McDonald's, Dick's Sporting Goods, Aldi, Chick-fil-A, Panera Bread, and Chipotle, further enhancing the property's desirability and potential for success. Suite sizes are adaptable and can be customized to meet specific tenant requirements.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Salina
    County
    Saline
    State
    Kansas
    Longitude
    -97.6132
    Latitude
    38.8005

    Comparable in this City

    • Value Estimation
      $510,000
      9,000 SF

      2000 9th St

      SHOPPING CENTER, STRIP CENTER
      2000 9th St, Salina, KS 67401-5612
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    • Value Estimation by Request
      4,024 SF

      1825 Ohio St

      SHOPPING CENTER, STRIP CENTER
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    • Value Estimation by Request
      7,536 SF

      305 Santa Fe Ave

      SHOPPING CENTER, STRIP CENTER
      305 Santa Fe Ave, Salina, KS 67401-2328
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    • Value Estimation
      $655,000
      9,380 SF

      2375 9th St Ste A

      SHOPPING CENTER, STRIP CENTER
      2375 9th St Ste A, Salina, KS 67401-7503
      View Details
    • Value Estimation by Request
      3,000 SF

      911 Crawford St Ste B

      SHOPPING CENTER, STRIP CENTER
      911 Crawford St Ste B, Salina, KS 67401-4700
      View Details
    • Value Estimation
      $1,980,000
      32,217 SF

      641 Crawford St

      SHOPPING CENTER, STRIP CENTER
      641 Crawford St, Salina, KS 67401-5101
      View Details

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    • $270,000
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      1,462 SF

      NNN Ground Lease in Salina

      Retail property in prime location with long-term lease.
      3105 S 9Th St, Salina, KS 67401
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    Similar Nearby for Lease

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      Commercial Space Available For Lease

      Commercial space available for lease in Salina, Kansas.
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      Single Tenant Office Space

      Office space available for single tenant occupancy.
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      3,244 SF

      Retail Space in Mid State Plaza

      Retail space available in a prominent Salina shopping center.
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      Retail and Office Space Available

      Retail and office spaces for lease in central Salina.
      S 9Th St, Salina, KS 67401
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      Class A Office Suites Available

      Multi-tenant office suites with Class A finishes for rent.
      1700 E Iron 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.
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    9Th 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.

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