229 7Th Ave Garnett, KS 66032
This exceptional investment opportunity presents a remarkable chance to acquire a substantial 25,200 square foot lot in Garnett, Kansas, zoned R3 Flexible Residential District. The property, located at 229 E 7th Avenue, 66032, includes a 24' x 41' garage featuring a concrete floor and three 8' x 10' overhead doors. While the garage's electrical service is currently disconnected, it boasts an established breaker box and outlets, ready for reconnection by the new owner. The R3 zoning allows for flexible development, including the construction of two single-family homes, two duplexes, or a single large residence. The property boasts mature trees and a spacious yard. City water, sewer, gas, and electric services are readily available on-site. This property's prime location offers convenient access to the 52-mile Prairie Spirit Rail Trail, extending from Iola to Ottawa, Kansas, and sits adjacent to the historic Garnett train depot. This complete package of land and garage presents a unique opportunity for significant returns. The property is priced affordably at $49,000.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.