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    3201 N 16Th St Parsons, KS 67357

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    3201 N 16Th St Parsons, KS 67357

    View on Map
    • Outlet malls
    • 155,100 SF
    • 28.72 lot acres
    For Sale
    $13,115,000
    View Listing →
    Available Commercial Outlots For Sale For Sale
    $13,115,000

    Available Commercial Outlots For Sale

    Commercial outlots available for automotive, retail, office, and restaurant uses.

    3201 N 16th St, Parsons, KS 67357
    View Listing
    Property ID
    US33-0584406
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Walmart Pet Services / Kennel & Boarding Facility
    • Walmart Deli / Food Market / Restaurant
    • Walmart Home Theater Installation / Electrical Service / General Contractor
    • Walmart Patio & Garden Services / Landscaping / General Contractor
    • Walmart Tech Services / Computer & Electronic Repair / Tech Support Center

    Property Details for 3201 N 16Th St

    Year built
    2005
    Lot size
    28.72 lot acres
    Property size
    155,100 SF
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    023-06-0-00-01-001.00-0
    APU
    230600001001000

    Description

    This exceptional commercial land opportunity in Parsons, Kansas, presents four available outlots situated near a high-traffic Walmart. The property offers a range of lot sizes, providing flexibility for various development plans. Lot 2 encompasses approximately 2.45 acres, Lot 4 measures roughly 1.49 acres, Lot 5 is approximately 1.61 acres, and Lot 6 is about 1.12 acres. Currently zoned for light industrial use, the land is poised for commercial development, capitalizing on the significant foot traffic generated by the adjacent Walmart, which boasts an average of 1.3 million annual visits. This strategic location makes it ideal for a diverse range of businesses, including automotive, retail, office, and restaurant establishments. The property's address is 3201 N 16th St, Parsons, KS 67357, within Labette County. The high visibility and accessibility of this location, coupled with the potential for substantial customer traffic, make this an attractive investment opportunity for developers and entrepreneurs seeking a prime commercial site in a thriving area. The total acreage available ranges from 1.12 to 2.45 acres. This presents a unique chance to establish a presence in a well-established retail corridor.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $16,215,000
      Current use
      AUTO REPAIR, GARAGE
      $21,550,000
      Change: +33% Conversion: Difficult
      RESTAURANT
      $20,425,000
      Change: +26% Conversion: Easy
      OFFICE BUILDING
      $14,285,000
      Change: -12% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Parsons
    County
    Labette
    State
    Kansas
    Longitude
    -95.2556
    Latitude
    37.3715
    CBSA code
    37660
    CBSA name
    PARSONS, 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
    $412,234
    $160,340
    $1,797,188
    $1,957,528
    -
    $641,360
    $7,188,750
    $7,830,110

    Comparable in this City

    • Value Estimation
      $1,090,000
      10,006 SF

      2105 Main St

      WHOLESALE OUTLET, DISCOUNT STORE • 10,006 SF
      2105 Main St, Parsons, KS 67357-2719
      View Details
    • Value Estimation
      $800,000
      7,000 SF

      1521 Un Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 7,000 SF
      1521 Un Ave, Parsons, KS 67357-8112
      View Details
    • Value Estimation
      $830,000
      15,000 SF

      2600 Main St

      WHOLESALE OUTLET, DISCOUNT STORE • 15,000 SF
      2600 Main St, Parsons, KS 67357
      View Details
    • Value Estimation
      $895,000
      8,080 SF

      2826 16th St

      WHOLESALE OUTLET, DISCOUNT STORE • 8,080 SF
      2826 16th St, Parsons, KS 67357-3473
      View Details
    • Value Estimation by Request
      12,403 SF

      1831 Crawford Ave

      SHOPPING CENTER, STRIP CENTER • 12,403 SF
      1831 Crawford Ave, Parsons, KS 67357
      View Details
    • Value Estimation
      $1,045,000
      33,522 SF

      2110 Broadway Ave

      MINI-MALL • 33,522 SF
      2110 Broadway Ave, Parsons, KS 67357-2742
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      14,381 SF

      Walgreens Property for Sale

      Walgreens property with ±3 years firm term remaining.
      1528 Main St, Parsons, KS 67357
      View Details
    • $1,600,000
      71,734 SF

      Sprawling Commercial Building on Large Lot

      71,734 SF building on 6.1 acres with income potential.
      300 Main St, Parsons, KS 67357
      View Details
    • Contact for pricing

      Available Commercial Outlots For Sale

      Commercial outlots available for automotive, retail, office, and restaurant uses.
      3201 N 16Th St, Parsons, KS 67357
      View Details
    • $675,000

      Automotive Building Near Highway 400

      11,520 sq ft automotive building on 9 acres.
      1515 Flynn Dr, Parsons, KS 67357
      View Details
    • $100,000
      4.03 Acres

      Prime Parsons Commercial Land

      4 Acres, C-3 Zoning, $100K
      /A, Parsons, KS 67357
      View Details
    View Listing
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    Parsons, KS 67357
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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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