104 Main St Mcpherson, KS 67460-4348
- Retail space
- 4,076 SF
- 0.16 lot acres
Current Use by Public Records
- Health Food Market / Natural Goods Store / Vitamin & Supplements Store
- McPherson News-Ledger / Newspaper Publisher
- Fox Chiropractic / Chiropractor
- Twice Told Tales / Used Book Store
Property Details for 104 Main St
- Year built
- 1900
- Lot size
- 0.16 lot acres
- Property size
- 4,076 SF
- Property type
- Retail space
- APN
- 138-28-0-20-39-008.00-0
- APU
- 1382802039008000
Description
This exceptional multi-use property, located at 104 N Main St in McPherson, Kansas, presents a compelling investment opportunity. The 6,015 square foot building, constructed in 1900 and renovated in 2016, boasts a blend of commercial and residential space. The property includes five units: three commercial storefronts on the main level, one with a storefront, and two upper-level apartments. The main level also features a bathroom and kitchenette. A large unfinished basement (approximately 2,000+ sq ft) offers significant expansion potential. Currently operating at 100% occupancy, generating a gross monthly income of $2,800, the property offers a Net Operating Income (NOI) of $15,817, with a pro-forma NOI of $17,000. The HVAC system was replaced in 2018. The 0.16-acre lot is zoned for commercial and residential use. The asking price is $200,000, representing a price per square foot of $33.25 and a price per unit of $40,000. The building's strong performance yields a current cap rate of 7.91% and a pro-forma cap rate of 8.50%. The property's prime downtown location ensures high visibility and accessibility. All information is deemed reliable but not guaranteed. Buyer to verify all information.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Mcpherson
- County
- Mcpherson
- State
- Kansas
- Longitude
- -97.6665
- Latitude
- 38.3697
- CBSA code
- 32700
- CBSA name
- MCPHERSON, KS MICROPOLITAN STATISTICAL AREA
