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    391 N Main St Lansing, KS 66043

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    391 N Main St Lansing, KS 66043

    View on Map
    • Drive through restaurants
    • 2,412 SF
    • 0.89 lot acres
    For Sale
    $110,000
    View Listing →
    Retail Space in Lansing, Kansas For Sale
    $110,000
    2,412 SF

    Retail Space in Lansing, Kansas

    Retail space available for sale in Lansing, Kansas.

    391 N Main St, Lansing, KS 66043
    View Listing
    Property ID
    US33-0609918
    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

    • Drive through restaurants

    Property Details for 391 N Main St

    Year built
    2007
    Construction
    FRAME
    Lot size
    0.89 lot acres
    Property size
    2,412 SF
    Property type
    Drive through restaurants
    APN
    106-24-0-10-07-078.63-0
    APU
    1062401007078630

    Description

    This vacant 2,412 square foot restaurant building is available for $110,000. Located at 391 N. Main St in Lansing, Kansas (zip code 66043), this property sits on a 0.92-acre lot. The building's previous tenant was a Burger King, featuring a convenient drive-thru. The property boasts a highly desirable location on a hard corner, providing excellent visibility and accessibility. High traffic counts ensure significant potential for any new restaurant concept. The property type is retail, specifically a restaurant, and the lease type is Absolute NNN. The building is currently vacant, presenting a unique opportunity for immediate occupancy. Its strategic placement within a thriving commercial area, surrounded by established national restaurant chains, guarantees a strong foundation for success. The property's size and features make it an ideal location for a variety of restaurant businesses seeking a high-traffic, easily accessible location in Lansing, Kansas. This is a turnkey opportunity for an entrepreneur looking to establish a successful restaurant venture in a prime location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $520,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $521,000
      Market price range: $237k - $522k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $365,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lansing
    County
    Leavenworth
    State
    Kansas
    Longitude
    -94.9007
    Latitude
    39.2561
    CBSA code
    28140
    CBSA name
    KANSAS CITY, MO-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
    2023
    $31,094
    $97,535
    $137,040
    $234,575
    -
    $390,140
    $548,160
    $938,300

    Comparable in this City

    • Value Estimation by Request
      334 SF

      721 Ctr Dr

      DRIVE-THRU RESTAURANT, FAST FOOD • 334 SF
      721 Ctr Dr, Lansing, KS 66043-6312
      View Details
    • Value Estimation
      $545,000
      3,003 SF

      291 Main St

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,003 SF
      291 Main St, Lansing, KS 66043-1338
      View Details
    • Value Estimation by Request
      2,634 SF

      329 Main St

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,634 SF
      329 Main St, Lansing, KS 66043-1394
      View Details
    • Value Estimation by Request
      1,730 SF

      715 Ctr Dr

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,730 SF
      715 Ctr Dr, Lansing, KS 66043-6312
      View Details
    • Value Estimation by Request
      1,826 SF

      402 Main St

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,826 SF
      402 Main St, Lansing, KS 66043-1312
      View Details
    • Value Estimation
      $695,000
      3,932 SF

      237 Main St

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,932 SF
      237 Main St, Lansing, KS 66043-1313
      View Details

    Similar Nearby for Sale

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      Prime Commercial Investment Opportunity

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      2,412 SF

      Retail Space in Lansing, Kansas

      Retail space available for sale in Lansing, Kansas.
      391 N Main St, Lansing, KS 66043
      View Details
    • $4,620,000
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      Lansing Development Land Opportunity

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    • $100,000
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      Residential Lot in Lansing, KS

      Vacant residential lot, ready for new home construction.
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      Land for Sale

      Land available for purchase in Lansing, Kansas.
      925 W Eisenhower Rd, Lansing, KS 66043
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      Two-tenant, corporate guaranteed investment property in Leavenworth, Kansas.
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    Similar Nearby for Lease

    • Contact for pricing
      2,412 SF

      Former Drive-Thru Restaurant For Lease

      Former Burger King drive-thru restaurant available for lease.
      391 N Main St, Lansing, KS 66043
      View Details
    • Contact for pricing
      1,100 SF

      Retail Space Available For Lease

      Retail space for lease in Lansing, Kansas.
      121 Express Ln, Lansing, KS 66043
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space on Eisenhower Road

      Retail space with high visibility and strong local income.
      831 W Eisenhower Rd, Lansing, KS 66043
      View Details
    View Listing
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    Lansing, KS 66043
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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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