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

    2106 Spruce St Garden City, KS 67846-6362

    • Office buildings
    • 8,360 SF
    • 1.06 lot acres
    OFF-MARKET
    Last Sale
    May 30, 2025
    Value Estimations
    $685,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US33-1360957
    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

    • USDA Rural Development / Urban Planning Department
    • US Consolidated Farm Services Agency / Sustainability Organization

    Property Details for 2106 Spruce St

    Year built
    1996
    Construction
    CONCRETE BLOCKS
    Lot size
    1.06 lot acres
    Property size
    8,360 SF
    Property type
    Office buildings
    APN
    275-16-0-30-10-022.00-0
    APU
    2751603010022000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $515,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $854,000
      Market price range: $485k - $1.25M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $840,000
      Current use
      RESTAURANT
      $1,000,000
      Change: +19% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $880,000
      Change: +5% Conversion: Difficult
      MEDICAL BUILDING
      $735,000
      Change: -12% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Garden City
    County
    Finney
    State
    Kansas
    Longitude
    -100.845
    Latitude
    37.9673
    CBSA code
    23780
    CBSA name
    GARDEN CITY, 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
    2023
    $29,171
    $16,875
    $165,408
    $182,283
    -
    $67,500
    $661,630
    $729,130

    Comparable in this City

    • Value Estimation
      $1,910,000
      19,007 SF

      310 7th St

      OFFICE BUILDING • 19,007 SF
      310 7th St, Garden City, KS 67846-5521
      View Details
    • Value Estimation by Request
      6,111 SF

      2606 Fleming St

      OFFICE BUILDING • 6,111 SF
      2606 Fleming St, Garden City, KS 67846-3282
      View Details
    • Value Estimation
      $575,000
      7,577 SF

      50 Grandview Dr

      OFFICE BUILDING • 7,577 SF
      50 Grandview Dr, Garden City, KS 67846-9640
      View Details
    • Value Estimation by Request
      2,440 SF

      3635 Jones Ave

      OFFICE BUILDING • 2,440 SF
      3635 Jones Ave, Garden City, KS 67846-7015
      View Details
    • Value Estimation by Request
      512 SF

      1807 Kansas Ave

      OFFICE BUILDING • 512 SF
      1807 Kansas Ave, Garden City, KS 67846-4813
      View Details
    • Value Estimation by Request
      3,372 SF

      1811 Mary St

      OFFICE BUILDING • 3,372 SF
      1811 Mary St, Garden City, KS 67846-3880
      View Details

    Similar Nearby for Sale

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      2,269 SF

      Garden City Office Building For Sale

      Stand-alone building on East Kansas Ave, suitable for office/sales/service.
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    • $295,000
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      Updated Commercial Building on Large Lot

      Versatile, updated commercial building with ample space and expansion potential.
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    • $1,300,000
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      Fully Rented Commercial Building

      Commercial building with diverse tenants and high visibility location.
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    • $250,000
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      Garden City Commercial Land Opportunity

      1.79-acre commercial lot in a high-growth Garden City corridor.
      2808 N Taylor Plz, Garden City, KS 67846
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    • $90,000
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      Residential Lot in Sagebrush Estates

      3.81-acre residential lot ready for your dream home.
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      Garden City Acreage for Home

      Residential land in new Garden City subdivision, over one acre.
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    Similar Nearby for Lease

    • Contact for pricing
      50,641 SF

      Retail Suites Inside Dillons Stores

      Retail and office suites available within Dillons Grocery Stores.
      1211 Buffalo Jones Ave, Garden City, KS 67846
      View Details
    • $4,648 /Mo
      50,965 SF

      Garden City Office/Retail Space

      Highly visible office or retail space in downtown Garden City.
      911 N Main St, Garden City, KS 67846
      View Details
    • Contact for pricing
      1,750 SF

      Prime Creative Office Space Available

      1,750 SF Single-Tenant Retail/Office
      1010 Mary St, Garden City, KS 67846
      View Details
    • Contact for pricing
      27,200 SF

      Garden City Plaza Retail Space

      Prime Retail, Office Space Available
      2214 Kansas Ave, Garden City, KS 67846
      View Details
    • Contact for pricing
      2,342 SF

      Retail Space in Garden City

      2,342 SF retail space with highway visibility available for rent.
      3104 E Kansas Ave, Garden City, KS 67846
      View Details
    • $8 SF/Yr
      3,888 SF

      Garden City Restaurant & Apartment

      Turnkey Restaurant w/ 3-Bedroom Apartment
      1408 Buffalo Jones Ave, Garden City, KS 67846
      View Details
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    2106 Spruce St
    Garden City, KS 67846-6362
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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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