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Property profile & analytics
OFF-MARKET
Estimated value
$2,950,000
Retail properties & Spaces
316 Pierre St Manhattan, KS 66502-6150
Entity Owned
Free & Clear
Property ID
US33-0243746
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1930
Construction
CONCRETE BLOCKS
Total area
29,816 SF
Lot
2.09 ac (91,040 SF)
Zoning code
C-4
APN
204-18-2-80-01-010.00-0
UPID
US33-0243746
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
-
Museum of Art + Light Museum
-
The Museum of Art & Light Museum
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.95M
Blend (final)
Blend
$2.95M
Owner & transaction history
MUSEUM ART & LIGHT LAND INC
MUSEUM ART & LIGHT LAND INC
Zoning & alternative use
C-4 · Manhattan, KS
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$4.8M
+64.3%
Restaurant
$4.6M
+56.7%
Apartment house (5+ units)
$4.4M
+49.7%
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 Manhattan submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Manhattan 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
RETAIL STORES
$2,950,000
Current use
OFFICE BUILDING
$4,845,000
Change: +64% · Conversion: Easy
RESTAURANT
$4,620,000
Change: +57% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$4,415,000
Change: +50% · Conversion: Difficult
MEDICAL BUILDING
$3,920,000
Change: +33% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,085,000
Change: +5% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,070,000
Change: +4% · Conversion: Easy
Blend value · Realmo final
$2.95M
Range $2.66M – $3.25M · ±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
$99 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$35,929
Tax year 2022
Previous assessed
$228,320
Land market value
$848,090
Improvement market value
$1,527,790
Total market value
$2,375,880
Applied tax rate
2.0000
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
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
1930
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
AC.PACKAGE
Buildings
2
Stories
2
Units
1
Bathrooms
6
Total area
29,816 SF
Lot
2.09 ac (91,040 SF)
Zoning code
C-4
APN
204-18-2-80-01-010.00-0
UPID
US33-0243746
Jurisdiction
RILEY
Zoning & alternative use
C-4 · Manhattan, KS
Zoning C-4 · permitted uses
C-4 · Manhattan, KS
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Manhattan. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$3.0M
OFFICE BUILDING
Est. value
$4.8M
RESTAURANT
Est. value
$4.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.4M
MEDICAL BUILDING
Est. value
$3.9M
AUTO REPAIR, GARAGE
Est. value
$3.1M
COMMERCIAL (GENERAL)
Est. value
$3.1M
RETAIL STORES Current
OFFICE BUILDING
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1930
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
Yes
Stories
2
Buildings
2
Units
1
Bathrooms
6
Lot
2.09 ac
Current owner
From public records · entity-resolved
MUSEUM ART & LIGHT LAND INC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 1207, MANHATTAN, KS 66505-1207
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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