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    27Th Rd Vermillion, KS 66427

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    27Th Rd Vermillion, KS 66427

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    • Land
    • 237.29 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 27Th Rd

    Lot size
    237.29 lot acres
    Property type
    Land
    Property subtype
    Farms

    Description

    This exceptional 237.29-acre property in Marshall County, Kansas, presents a unique investment opportunity. Located at the intersection of 27th Road and Zenith Road near Frankfort, it boasts 140 acres of non-highly erodible cropland currently leased for $200 per acre, generating immediate income. The remaining acreage offers a blend of wooded areas and open space, ideal for hunting and recreational pursuits. While the original homestead has been removed, the site is prepared for new construction, with existing utilities readily available. This versatile property is perfect for expanding agricultural operations, creating a rural residence, or enjoying the abundant outdoor recreational opportunities. The property's location in Kansas, combined with its productive farmland and recreational potential, makes it a highly desirable investment. The asking price is $2,500,000. This is a rare chance to acquire a substantial and diverse piece of Kansas land with significant potential for both income generation and personal enjoyment. The property's size, combined with its existing lease and potential for development, makes it an attractive proposition for a wide range of buyers. Don't miss this opportunity to own a piece of Kansas farmland with so much to offer.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Vermillion
    County
    Marshall
    State
    Kansas
    Longitude
    -96.3142
    Latitude
    39.6969

    Comparable in this City

    • Value Estimation by Request
      157.60 Acres

      22nd & Zenith Rd Rd

      Farms • 157.60 Acres
      22nd & Zenith Rd Rd, Frankfort, KS 66427
      View Details
    • Value Estimation by Request
      0.18 Acres

      Railway Ave

      COMMERCIAL (GENERAL) • 0.18 Acres
      Railway Ave, Frankfort, KS 66427
      View Details
    • Value Estimation by Request
      0.46 Acres

      Railway Ave

      COMMERCIAL (GENERAL) • 0.46 Acres
      Railway Ave, Frankfort, KS 66427
      View Details
    • Value Estimation by Request
      0.27 Acres

      709 Locust St

      FOUNDRY, INDUSTRIAL PLANT • 0.27 Acres
      709 Locust St, Frankfort, KS 66427-1227
      View Details
    • Value Estimation by Request
      3,740 SF

      108 1st St

      AUTO REPAIR, GARAGE • 3,740 SF
      108 1st St, Frankfort, KS 66427-1337
      View Details
    • Value Estimation by Request
      5,184 SF

      113 2nd St

      WAREHOUSE, STORAGE • 5,184 SF
      113 2nd St, Frankfort, KS 66427-1306
      View Details
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    27Th Rd
    Vermillion, KS 66427
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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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