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    217 Muse St Newton, KS 67114-3845

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    217 Muse St Newton, KS 67114-3845

    View on Map
    • Garden apartment buildings
    • 14,826 SF
    • 0.42 lot acres
    Off-Market
    Property ID
    US33-0154911
    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.
    Value Estimations
    $505,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Garden apartment buildings

    Property Details for 217 Muse St

    Year built
    1965
    Construction
    FRAME
    Lot size
    0.42 lot acres
    Property size
    14,826 SF
    Property type
    Garden apartment buildings
    APN
    094-20-0-10-12-001.07-0
    APU
    942001012001070

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $345,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $666,000
      Market price range: $463k - $1.78M

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

    Location Insight

    • Map
    • Local Demand
    City
    Newton
    County
    Harvey
    State
    Kansas
    Longitude
    -97.3401
    Latitude
    38.0408
    CBSA code
    48620
    CBSA name
    WICHITA, KS METROPOLITAN 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
    $10,238
    $1,033
    $55,407
    $56,440
    -
    $8,980
    $481,800
    $490,780

    Comparable in this City

    • Value Estimation
      $2,470,000
      20,650 SF

      Paddington Cir

      GARDEN APT, COURT APT (5+ UNITS) • 20,650 SF
      Paddington Cir, Newton, KS 67114
      View Details
    • Value Estimation
      $1,325,000
      11,800 SF

      Paddington Cir

      GARDEN APT, COURT APT (5+ UNITS) • 11,800 SF
      Paddington Cir, Newton, KS 67114
      View Details
    • Value Estimation
      $885,000
      7,680 SF

      505 12th St

      GARDEN APT, COURT APT (5+ UNITS) • 7,680 SF
      505 12th St, Newton, KS 67114-1700
      View Details
    • Value Estimation
      $1,465,000
      12,264 SF

      1501 Old Main St

      GARDEN APT, COURT APT (5+ UNITS) • 12,264 SF
      1501 Old Main St, Newton, KS 67114-8735
      View Details
    • Value Estimation by Request
      2,124 SF

      201 Old Ml Rd

      GARDEN APT, COURT APT (5+ UNITS) • 2,124 SF
      201 Old Ml Rd, Newton, KS 67114-3447
      View Details
    • Value Estimation by Request
      2,700 SF

      1110 Plum St

      GARDEN APT, COURT APT (5+ UNITS) • 2,700 SF
      1110 Plum St, Newton, KS 67114-1775
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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      7,500 SF

      Prime Newton Commercial Corner Lot

      7,500 sq ft commercial building in established retail strip.
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      I-135 Industrial Park Land

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      Victoria Centre Buildable Lot

      Final buildable lot in Victoria Centre development.
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    • $600,000
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      Historic Newton Office Building

      Landmark Office, 5,329 sq ft, 0.43 acres
      725 Main St, Newton, KS 67114
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    • Contact for pricing
      56,432 SF

      Former Warehouse with Highway Access

      Well-located warehouse with loading dock and ample parking.
      1801 W 1St St, Newton, KS 67114
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,000 SF

      Retail Space Near Downtown Newton

      Retail space available near historic downtown Newton, Kansas.
      505 North Poplar St, Newton, KS 67114
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    • Contact for pricing

      Versatile Commercial Space for Lease

      3400 SF mixed-use space with industrial features available for lease.
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      5,740 SF

      North Newton Office/Retail Space

      Class-A office and retail spaces for lease in North Newton.
      3179 N Main St, North Newton, KS 67114
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    • Contact for pricing

      Retail Center Near Walmart

      Retail suites available in high-traffic Newton location.
      405 Windward Dr, Newton, KS 67114
      View Details
    • Contact for pricing

      Retail Space in Newton, Kansas

      Retail/Strip Center space in a bustling commercial hub.
      1001 N Main St, Newton, KS 67114
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    • Contact for pricing
      16,480 SF

      Harvey County Warehouse with Yard

      16,480 SF warehouse with fenced yard in Harvey County.
      1535 NW 36Th St, Newton, KS 67114
      View Details
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    217 Muse St
    Newton, KS 67114-3845
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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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