Individually Owned Property summary
AI-generated overview
This exceptional freestanding retail storefront, located at 1605 S Main Street S in Ottawa, Kansas, presents a compelling investment opportunity. The 45,900 square foot lot houses a well-maintained, single-story building constructed in 1954, formerly occupied by Aldi's. The property boasts a newly installed 20-year roof (2023) and a recently sealed and striped parking lot (2023), ensuring low maintenance costs for the foreseeable future. Currently leased to a strong tenant with a lease extending through 2026, this provides immediate and consistent cash flow. The property's high-traffic location on a busy thoroughfare offers excellent visibility and accessibility, making it ideal for a variety of businesses. The expansive lot size also presents the potential for future expansion with the addition of further structures. This turnkey operation, situated in the desirable Franklin County, Kansas, zip code 66067, offers a rare blend of immediate return and long-term growth potential. The asking price is $850,000.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1954
Construction
FRAME
Total area
8,680 SF
Lot
1.05 ac (45,738 SF)
Zoning code
C2
APN
131-11-0-10-01-007.00-0
UPID
US33-0409485
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
(Bike/Boat/Book/etc) Store Wine and Liquor Store
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$435k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$945k
Blend (final)
Blend
$690k
Owner & transaction history
Zoning & alternative use
C2 · Ottawa, KS
Top alternative use upside
Office building
$1.1M
+64.8%
Auto repair, garage
$1.1M
+61.6%
Commercial (general)
$905,000
+33.6%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
6 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$690k
Value range
$621k – $759k
±10% around blend
Estimated value / SF
$79 / SF
Confidence
Property data
100
Comparable evidence
60
$621k
blend $690k
$759k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
8,680 SF
Lot area
1.05 ac
Year built
1954
Stories
1
APN
131-11-0-10-01-007.00-0
Zoning
C2
Assessed value
$106,071
Annual tax
$17,283
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$945k
Range $420k – $1.02M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$690k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Alternative use screening
Partial preview
Top alternative use
Office Building
Gross theoretical uplift
+65%
vs current-use indication
Auto Repair, Garage
Commercial (general)
Retail Stores · current use
Warehouse, Storage
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional Plan · 30 reports
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from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$106k
Move the market yield to see immediate price impact.
Value / SF
$12
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$7k
$134k
$95k
$74k
$7k
$149k
$106k
$83k
$8k
$163k
$117k
$91k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$17,283
Tax year 2023
Assessed value
$106,071
Assessed 2023
Previous assessed
$106,071
+0.0% YoY
Effective rate
16.29%
On assessed value
Assessed land
$54,938
Assessed improvement
$51,133
Land market value
$219,750
Improvement market value
$204,530
Total market value
$424,280
Applied tax rate
2.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1954
Construction
FRAME
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
8,680 SF
Lot
1.05 ac (45,738 SF)
Zoning code
C2
APN
131-11-0-10-01-007.00-0
UPID
US33-0409485
Jurisdiction
FRANKLIN
Zoning & alternative use
C2 · Ottawa, KSZoning C2 · permitted uses
C2 · Ottawa, KS
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1954
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
1.05 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
C2
Jurisdiction
Ottawa, KS
Recorded code
C2
Ownership Intelligence
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Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
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