Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2502 Santa Fe Ave Chanute, KS 66720

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2502 Santa Fe Ave Chanute, KS 66720

    View on Map
    • Lifestyle centers
    • 15,447 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 2502 Santa Fe Ave

    Property size
    15,447 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional retail opportunity is located within the thriving Chanute Plaza, a 15,447 square foot shopping center in Neosho County, Kansas. The property features a single-tenant space totaling 1,200 square feet, ideally suited for a variety of retail businesses. Benefit from the significant traffic generated by the Walmart-anchored center, ensuring high visibility and foot traffic. The center enjoys a strong tenant mix, including established retailers such as Maurices, Shoe Department, and US Cellular, creating a synergistic and attractive shopping environment. Chanute Plaza boasts ample parking for customer convenience and is strategically situated on a main thoroughfare, providing excellent accessibility. Its proximity to Highway 169 further enhances its strategic location and accessibility. The lease rate is competitively priced at $15.00 per square foot, triple net (NNN). This presents a compelling investment opportunity for businesses seeking a high-traffic location within a well-established shopping center. The available space offers a chance to establish a strong presence in a vibrant retail environment, benefiting from the established customer base and the overall success of the Chanute Plaza. Don't miss this chance to secure a prime retail space in a highly visible and accessible location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Chanute
    County
    Neosho
    State
    Kansas
    Longitude
    -95.452
    Latitude
    37.6554

    Comparable in this City

    • Value Estimation
      $1,155,000
      88,760 SF

      1401 Santa Fe Ave

      MINI-MALL • 88,760 SF
      1401 Santa Fe Ave, Chanute, KS 66720-3218
      View Details
    • Value Estimation
      $540,000
      14,520 SF

      1425 Santa Fe Ave

      MINI-MALL • 14,520 SF
      1425 Santa Fe Ave, Chanute, KS 66720-3218
      View Details
    • Value Estimation
      $575,000
      15,475 SF

      2510 Santa Fe Ave

      SHOPPING CENTER, STRIP CENTER • 15,475 SF
      2510 Santa Fe Ave, Chanute, KS 66720-3244
      View Details
    • Value Estimation by Request
      23,500 SF

      1390 35Th St

      Churches & religious facilities • 23,500 SF
      1390 35Th St, Chanute, KS 66720
      View Details
    • Value Estimation
      $795,000
      9,150 SF

      321 Cherry St

      WHOLESALE OUTLET, DISCOUNT STORE • 9,150 SF
      321 Cherry St, Chanute, KS 66720
      View Details
    • Value Estimation
      $9,890,000
      153,450 SF

      2700 Santa Fe Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 153,450 SF
      2700 Santa Fe Ave, Chanute, KS 66720-3204
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,880 SF

      Versatile Commercial Building on Santa Fe

      1880 sq ft commercial building suitable for office or retail.
      1915 S Santa Fe Ave, Chanute, KS 66720
      View Details
    • New
      $49,900

      Downtown Commercial Building Investment Opportunity

      Well-maintained building with long-term tenant and renovation potential.
      108 E Main St, Chanute, KS 66720
      View Details
    • $260,000
      1,880 SF

      Chanute Commercial Building For Sale

      Versatile 1880 sq ft commercial building on busy corridor.
      1915 S Santa Fe Ave, Chanute, KS 66720
      View Details
    • $320,000

      Commercial Buildings on Highway Frontage

      Two commercial buildings with highway frontage in Chanute, Kansas.
      600 W Cherry St, Chanute, KS 66720
      View Details
    • $289,000
      3.20 Acres

      Prime Chanute Commercial Tract

      Walmart-adjacent, 3.2 acres, high visibility.
      2492 Santa Fe Ave, Chanute, KS 66720
      View Details
    • $599,900
      2,713 SF

      73-Acre Farm with Brick Home

      Scenic 73-acre farm featuring a classic brick home.
      20079 Irving Rd, Chanute, KS 66720
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2502 Santa Fe Ave
    Chanute, KS 66720
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!