Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2515 Central Ave El Dorado, KS 67042-3213

    • Motels
    • 11,097 SF
    • 3.20 lot acres
    OFF-MARKET
    Value Estimations
    $595,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US33-0157640
    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

    • Heritage Inn & Suites / Motel / Hotel

    Property Details for 2515 Central Ave

    Year built
    1988
    Lot size
    3.20 lot acres
    Property size
    11,097 SF
    Zone code
    C1
    Property type
    Motels
    APN
    008-212-04-0-00-30-005.00-0
    APU
    82120400030005000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $465,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $790,000
      6.5%
      $730,000
      7%
      $680,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $985,000

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

    Location Insight

    • Map
    • Local Demand
    City
    El Dorado
    County
    Butler
    State
    Kansas
    Longitude
    -96.8857
    Latitude
    37.8165
    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
    2019
    $25,366
    $43,421
    $88,913
    $132,334
    -
    $183,600
    $375,600
    $559,200

    Comparable in this City

    • Value Estimation
      $510,000
      10,596 SF

      2525 Central Ave

      MOTEL • 10,596 SF
      2525 Central Ave, El Dorado, KS 67042-3213
      View Details
    • Value Estimation by Request
      3,764 SF

      210 Kansas Ave

      MOTEL • 3,764 SF
      210 Kansas Ave, El Dorado, KS 67042-2924
      View Details
    • Value Estimation by Request
      968 SF

      115 Kansas Ave

      MOTEL • 968 SF
      115 Kansas Ave, El Dorado, KS 67042-2923
      View Details
    • Value Estimation by Request
      9,600 SF

      1111 Central Ave

      MOTEL • 9,600 SF
      1111 Central Ave, El Dorado, KS 67042-8505
      View Details
    • Value Estimation by Request
      5,980 SF

      2525 Central Ave

      MOTEL • 5,980 SF
      2525 Central Ave, El Dorado, KS 67042-3213
      View Details
    • Value Estimation by Request
      5,900 SF

      1128 Main St

      MOTEL • 5,900 SF
      1128 Main St, El Dorado, KS 67042-4336
      View Details

    Similar Nearby for Sale

    • $3,450,000
      24,590 SF

      Days Inn & Suites, El Dorado, KS

      Profitable Kansas Hotel, 42 Units
      3200 El Dorado Ave, El Dorado, KS 67042
      View Details
    • $435,000
      0.22 Acres

      Historic El Dorado Mixed-Use Investment

      Mixed-use property with office and apartment spaces in historic district.
      116 W Pine Ave, El Dorado, KS 67042
      View Details
    • $850,000
      14,990 SF

      El Dorado Retail Investment Opportunity

      Prime 14,990 SF retail building, excellent location.
      119 6Th Ave, El Dorado, KS 67042
      View Details
    • $1,593,000
      354.00 Acres

      El Dorado Industrial Land - 354 Acres

      Prime Kansas industrial land, rail access, utilities.
      El Dorado Topeka St, Unincorporated, KS 67042
      View Details
    • $300,000
      4,000 SF

      El Dorado Plaza Pad Site Investment

      Restaurant Pad Site, Prime Location, KS
      0 Central & Haverhill Rd, El Dorado, KS 67042
      View Details
    • $399,000
      15.30 Acres

      El Dorado Residential Land Development

      15 Acres, Prime Location, City Approved
      222 Millheisler Rd, El Dorado, KS 67042
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      3,000 SF

      Versatile Office/Warehouse Flex Space

      3,000 SF flex space in El Dorado, Kansas.
      101 E 12Th Ave, El Dorado, KS 67042
      View Details
    • $14 SF/Yr
      14,322 SF

      Retail Space in Walmart Center

      Prime retail spaces available in Walmart-anchored shopping center.
      2733 W Central Ave, El Dorado, KS 67042
      View Details
    • $1,500 /Mo
      3,049 SF

      El Dorado Commercial Space Available

      Commercial space for lease in El Dorado, Kansas.
      116 E Pine Ave, El Dorado, KS 67042
      View Details
    • Contact for pricing
      204,855 SF

      Spacious Warehouse in El Dorado

      204,855 SF warehouse on 16.8 acres for lease.
      2400 Pioneer Dr, El Dorado, KS 67042
      View Details
    • Contact for pricing

      El Dorado Pad Site Available

      Pad site for sale, ground lease, or build-to-suit.
      2220 W Central Ave, El Dorado, KS 67042
      View Details
    • $12 SF/Yr
      3,000 SF

      Versatile Office/Warehouse Flex Space

      3,000 SF Office/Warehouse Flex space in El Dorado, Kansas.
      El Dorado, KS 67042
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2515 Central Ave
    El Dorado, KS 67042-3213
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.