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    2875 9th St Salina, KS 67401-7880
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    Property profile & analytics

    2875 9th St, Salina, KS 67401-7880

    View on Map
    • Turn key restaurants
    • 5,462 SF
    • 1.39 lot acres
    Off-Market
    Last Sale Jun 23, 2021
    Property ID
    US33-0315575
    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
    $625,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Turn key restaurants

    Property Details for 2875 9th St

    Year built
    1993
    Construction
    FRAME
    Lot size
    1.39 lot acres
    Property type
    Turn key restaurants
    APN
    087-36-0-30-12-002.00
    APU
    87360301200200

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 23, 2021 — Ab Re Port Owner 2 LLC Thrive Rlest Hldgs LLC Warranty Deed $1.8M · Scf Rc Funding 4 LLC
    Nov 6, 2020 — Thrive Rlest Hldgs LLC — Deed · related $1.6M · Intrust Bank
    Nov 26, 2012 — Crabapples, Lc James H Stevens Warranty Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $475,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $769,000
      Market price range: $448k - $989k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $725,000
      Current use
      OFFICE BUILDING
      $775,000
      Change: +7% Conversion: Moderate
      MEDICAL BUILDING
      $630,000
      Change: -13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Salina
    County
    Saline
    State
    Kansas
    Longitude
    -97.6122
    Latitude
    38.7859
    CBSA code
    41460
    CBSA name
    SALINA, 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
    $39,434
    $181,998
    $103,128
    $285,126
    -
    $727,990
    $412,510
    $1,140,500

    Comparable in this City

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      2351 9th St

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    • Value Estimation
      $2,250,000
      30,602 SF

      1944 9th St

      RESTAURANT
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    • Value Estimation by Request
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      RESTAURANT
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    Similar Nearby for Sale

    • Contact for pricing
      2,605 SF

      Restaurant with Walk-In Refrigeration

      Restaurant space with included refrigeration, freezer, and Type I hood equipment for an efficient back-of-house setup.
      3049 Riffel Dr, Salina, KS 67401
      View Details
    • Contact for pricing
      1,462 SF

      NNN Ground Lease in Salina

      Retail property in prime location with long-term lease.
      3105 S 9Th St, Salina, KS 67401
      View Details
    • $80,000
      0.30 Acres

      Salina Commercial Land Redevelopment Opportunity

      Vacant commercial lots in central Salina, Kansas.
      343 N Santa Fe Ave, Salina, KS 67401
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    • Contact for pricing

      Land For Sale

      2.8 acres of land available for sale.
      W Diamond Dr, Salina, KS 67401
      View Details
    • $270,000
      Pending

      Warehouse Near I-70 & 135

      Commercial/Industrial zoned warehouse with office space and ample parking.
      831 N 8Th St, Salina, KS 67401
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    Similar Nearby for Lease

    • Contact for pricing

      Commercial Space Available For Lease

      Commercial space available for lease in Salina, Kansas.
      433 S Broadway Blvd, Salina, KS 67401
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      3,244 SF

      Retail Space in Mid State Plaza

      Retail space available in a prominent Salina shopping center.
      2450 S 9Th St, Salina, KS 67401
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    • Contact for pricing
      1,500 SF

      Retail Space in Cold Shell

      End cap retail space with tenant improvement allowance.
      2935 S 9Th St, Salina, KS 67401
      View Details
    • New
      Contact for pricing

      Downtown Retail Suite with Street Parking

      A flexible downtown storefront with white-box condition and ADA-accessible common restrooms for adaptable retail use.
      244 S Santa Fe Ave, Salina, KS 67401
      View Details
    • New
      Contact for pricing

      Retail Space for Lease

      Retail space available for lease in Salina’s South Ninth Street shopping corridor.
      2851 Market Pl, Salina, KS 67401
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    • Contact for pricing

      Retail and Office Space Available

      Retail and office spaces for lease in central Salina.
      S 9Th St, Salina, KS 67401
      View Details
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    2875 9th St
    Salina, KS 67401-7880
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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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