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

    1838 Old Hwy 40 Junction City, KS 66441-7401

    • Warehouses
    • 5,040 SF
    • 3.51 lot acres
    OFF-MARKET
    Last Sale
    Jul 07, 2021
    Value Estimations
    $550,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US33-0304689
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Warehouses

    Property Details for 1838 Old Hwy 40

    Year built
    2001
    Lot size
    3.51 lot acres
    Property size
    5,040 SF
    Zone code
    IL
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    115-22-0-20-01-001.00-0
    APU
    1152202001001000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $460,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $636,000
      Market price range: $217k - $636k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $425,000
      Current use
      OFFICE BUILDING
      $770,000
      Change: +82% Conversion: Difficult
      RESTAURANT
      $635,000
      Change: +50% Conversion: Difficult
      RETAIL STORES
      $570,000
      Change: +35% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $550,000
      Change: +30% Conversion: Easy
      COMMERCIAL (GENERAL)
      $545,000
      Change: +29% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $340,000
      Change: -19% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Junction City
    County
    Geary
    State
    Kansas
    Longitude
    -96.8636
    Latitude
    38.9982
    CBSA code
    31740
    CBSA name
    MANHATTAN, KS MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $37,090
    $10,015
    $235,270
    $245,285
    -
    $40,060
    $941,080
    $981,140

    Comparable in this City

    • Value Estimation by Request
      1,800 SF

      402 Grant Ave

      MINI-WAREHOUSE, STORAGE • 1,800 SF
      402 Grant Ave, Junction City, KS 66441-4217
      View Details
    • Value Estimation
      $655,000
      6,400 SF

      719 Cannon Vw Dr

      MINI-WAREHOUSE, STORAGE • 6,400 SF
      719 Cannon Vw Dr, Junction City, KS 66441
      View Details
    • Value Estimation
      $735,000
      7,920 SF

      552 Grant Ave

      MINI-WAREHOUSE, STORAGE • 7,920 SF
      552 Grant Ave, Junction City, KS 66441-4218
      View Details
    • Value Estimation
      $855,000
      10,200 SF

      1710 Old Hwy 40

      MINI-WAREHOUSE, STORAGE • 10,200 SF
      1710 Old Hwy 40, Junction City, KS 66441
      View Details
    • Value Estimation by Request
      2,500 SF

      2721 Gtwy Ct

      MINI-WAREHOUSE, STORAGE • 2,500 SF
      2721 Gtwy Ct, Junction City, KS 66441
      View Details
    • Value Estimation
      $595,000
      6,120 SF

      2239 Elmdale Ave

      MINI-WAREHOUSE, STORAGE • 6,120 SF
      2239 Elmdale Ave, Junction City, KS 66441-4562
      View Details

    Similar Nearby for Sale

    • $250,000
      0.16 Acres

      Commercial Warehouse with Office Space

      Spacious commercial warehouse with office space on heavily traveled road.
      1406 N Washington St, Junction City, KS 66441
      View Details
    • $1,900,000
      32,788 SF

      Junction City Commercial Property

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    • $559,000
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      Junction City Industrial Warehouse

      18,625 SF Warehouse, $559,000
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    • $1,600,000

      Commercial Buildings with Business Opportunities

      Multiple commercial buildings with diverse business and income potential.
      126 W Flint Hills Blvd, Junction City, KS 66441
      View Details
    • $180,000
      1.00 Acre

      Commercial Land with Shop

      One acre commercial lot with shop in Junction City.
      2500 K 18 Hwy, Junction City, KS 66441
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    • $850,000
      7,579 SF

      Junction City Strip Mall Opportunity

      Vibrant strip mall with established businesses near Fort Riley.
      204 Grant Ave, Junction City, KS 66441
      View Details

    Similar Nearby for Lease

    • $5 SF/Yr
      4,036 SF

      Junction City Warehouse - 4,036 SF

      High-traffic Junction City warehouse, excellent access to I-70.
      437 Chestnut St, Junction City, KS 66441
      View Details
    • Contact for pricing
      3,900 SF

      Junction City Retail Storefront

      High-profile 3,900 SF retail space.
      611 Chestnut St, Junction City, KS 66441
      View Details
    • Contact for pricing
      3,900 SF

      Retail Space Near I-70

      3,900 SF retail space with easy highway access.
      613 E Chestnut St, Junction City, KS 66441
      View Details
    • $21,792

      Equipped Cafe Space For Lease

      Cafe-ready commercial space for lease near Fort Riley and local employers.
      105 West 7Th St, Junction City, KS 66441
      View Details
    • Contact for pricing
      7,049 SF

      Junction City Retail Center

      High-Visibility Retail Space Available
      215 6Th St, Junction City, KS 66441
      View Details
    • Contact for pricing
      7,408 SF

      Junction City Medical Office Building

      Modern Medical Office, 7,408 SF, 1.62 Acres
      702 Caroline Ave, Junction City, KS 66441
      View Details
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    1838 Old Hwy 40
    Junction City, KS 66441-7401
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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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