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Property profile & analytics
OFF-MARKET
Estimated value
$1,340,000
Medical Office Space
308 Central Ave Andover, KS 67002-5605
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US33-0147772
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1997
Total area
13,069 SF
Lot
1.2 ac (52,272 SF)
APN
008-304-17-0-30-03-004.01-0
UPID
US33-0147772
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
-
Kristine Alvarez Medical Clinic
-
Kari Clouse Pediatrician Physician
-
Jace Giannetti Physician
-
Ayres John W Physician
-
PMA Andover Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.16M
Blend (final)
Blend
$1.34M
Owner & transaction history
Ts Holdings LLC · 2 yrs held
Ts Holdings LLC
since 2024
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.8M
+42.4%
Commercial (general)
$1.5M
+19.6%
Office building
$1.3M
+3.4%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,275,000
Current use
RESTAURANT
$1,810,000
Change: +42% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,525,000
Change: +20% · Conversion: Easy
OFFICE BUILDING
$1,315,000
Change: +3% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,200,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$1.34M
Range $1.21M – $1.47M · ±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
$103 / 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
$42,939
Tax year 2019
Assessed value
$254,100
Assessed 2023
Previous assessed
$253,050
+0.4% YoY
Effective rate
16.90%
On assessed value
Assessed land
$42,750
Assessed improvement
$211,350
Land market value
$171,000
Improvement market value
$845,400
Total market value
$1,016,400
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1997
Heating
YES
Cooling
YES
Total area
13,069 SF
Lot
1.2 ac (52,272 SF)
APN
008-304-17-0-30-03-004.01-0
UPID
US33-0147772
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
MEDICAL BUILDING Current
Est. value
$1.3M
RESTAURANT
Est. value
$1.8M
COMMERCIAL (GENERAL)
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.2M
MEDICAL BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1997
Heating
YES
Cooling
Yes
Lot
1.2 ac
Current owner
From public records · entity-resolved
Ts Holdings LLC
Entity
Mailing address
308 E CENTRAL AVE, ANDOVER, KS 67002-5605
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 5, 2024
—
Ts Holdings LLC
Andover Ks Propco LLC
Warranty Deed
$2,345,000 · Menachem Shapiro
Sep 2, 2009
—
Andover Senior Care LLC
City Of Andover
Quit Claim Deed
—
Sep 12, 2008
—
Andover Senior Care LLC
Lemons & Lehr LLC
Warranty Deed
related
—
Sep 20, 2007
—
Lemons & Lehr LLC
City Of Andover
Grant Deed
$1,225,751 · Midland National Bank
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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