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Property profile & analytics
OFF-MARKET
Estimated value
$1,250,000
Garden apartment buildings
217 3rd St Andover, KS 67002-9021
Individually Owned
20-yr Hold
Free & Clear
Property ID
US33-0122727
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1977
Total area
14,558 SF
Lot
5 ac (217,800 SF)
APN
008-304-19-0-10-04-002.00-0
UPID
US33-0122727
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Cloudridge Apartments Apartment Building Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$805k
CAP Approach
CAP
$1.73M
Comparable Approach
Comparable
$1.22M
Blend (final)
Blend
$1.25M
Owner & transaction history
Cloudridge Apartments Lc · 20 yrs held
Cloudridge Apartments Lc
since 2005
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.0M
+129.8%
Commercial (general)
$1.7M
+93.1%
Office building
$1.5M
+66.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Andover submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Andover submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$805,000
CAP Approach
CAP Return
Estimation
6%
$1,870,000
6.5%
$1,725,000
7%
$1,605,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$880,000
Current use
RESTAURANT
$2,020,000
Change: +130% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,695,000
Change: +93% · Conversion: Moderate
OFFICE BUILDING
$1,465,000
Change: +67% · Conversion: Moderate
MEDICAL BUILDING
$1,420,000
Change: +61% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,340,000
Change: +52% · Conversion: Difficult
RETAIL STORES
$955,000
Change: +9% · Conversion: Difficult
WAREHOUSE, STORAGE
$940,000
Change: +7% · Conversion: Difficult
Blend value · Realmo final
$1.25M
Range $1.13M – $1.38M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$86 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2019Property tax & assessments
Tax year 2019
Tax billed
$42,211
Tax year 2019
Assessed value
$314,639
Assessed 2023
Previous assessed
$314,639
+0.0% YoY
Effective rate
13.42%
On assessed value
Assessed land
$43,700
Assessed improvement
$270,939
Land market value
$380,000
Improvement market value
$2,355,990
Total market value
$2,735,990
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1977
Heating
YES
Cooling
YES
Buildings
5
Units
96
Bathrooms
40
Total area
14,558 SF
Lot
5 ac (217,800 SF)
APN
008-304-19-0-10-04-002.00-0
UPID
US33-0122727
Jurisdiction
BUTLER
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$880,000
RESTAURANT
Est. value
$2.0M
COMMERCIAL (GENERAL)
Est. value
$1.7M
OFFICE BUILDING
Est. value
$1.5M
MEDICAL BUILDING
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.3M
RETAIL STORES
Est. value
$955,000
WAREHOUSE, STORAGE
Est. value
$940,000
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
COMMERCIAL (GENERAL)
OFFICE BUILDING
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1977
Heating
YES
Cooling
Yes
Buildings
5
Units
96
Bathrooms
40
Lot
5 ac
Current owner
From public records · entity-resolved
Cloudridge Apartments Lc
Individual
Free & Clear · 20 yrs held
Mailing address
217 W 3RD ST BLDG C, ANDOVER, KS 67002-9021
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 21, 2005
—
Cloudridge Apartments Lc
Messner,r A
Quit Claim Deed
related
—
—
—
Cloudridge Apartments LLC
—
Deed Of Trust
related
$1,250,000 · Fidelity Bank NA
—
—
Cloudridge Apartments LLC
—
Deed Of Trust
related
$1,250,000 · Fidelity Bank NA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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