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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    401 Buchanan Ln Galena, KS 66739

    • Commercial real estate
    • 8.00 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US33-1240923
    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.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 401 Buchanan Ln

    Lot size
    8.00 lot acres
    Property type
    Commercial real estate

    Description

    This 8-acre parcel in Galena, Kansas, presents a unique investment opportunity situated near historic Route 66. The property offers potential for various developments, including a trailer park or RV park, given its convenient location. Alternatively, the land could be subdivided into approximately eight 1-acre lots, ideal for residential development. Existing infrastructure includes city water, electric service, and a septic system located at a former homesite, providing a head start on development. Please note that the driveway on the south side of the property is not included in the sale. The seller has permission to utilize existing utilities on the land. This motivated seller is eager to receive offers. The property is located at 401 Buchanan Lane, Galena, KS 66739, and is priced at $79,900. This represents a compelling chance to capitalize on the area's potential and create a profitable venture. Serious inquiries are encouraged. Buyers are responsible for conducting their own due diligence regarding zoning regulations and development possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Galena
    County
    Cherokee
    State
    Kansas
    Longitude
    -94.6657027
    Latitude
    37.1414228

    Comparable in this City

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      1.00 Acre

      Acre Lot in Riverton District

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      1.38 Acres

      Galena, KS Land - 1.38 Acres

      Prime 1.38-acre residential building lot.
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    Similar Nearby for Sale

    • New
      $179,000
      Pending

      Lakefront Land with Empire Lake Access

      27-acre Galena, KS land with lake access and hunting.
      SE 80 St, Galena, KS 66739
      View Details
    • Contact for pricing
      1.00 Acre

      Residential Land in Galena, Kansas

      One acre of land suitable for residential building.
      Clark St, Galena, KS 66739
      View Details
    • $34,900
      3.00 Acres

      Land Parcel in Galena, Kansas

      3.3 acre land parcel with utilities in Galena, Kansas.
      5555 SE 60Th St, Galena, KS 66739
      View Details
    • $130,500
      40.00 Acres

      Recreational Land in Galena, Kansas

      40 acres of timberland, ideal for recreational use.
      Truman Ln, Galena, KS 66739
      View Details
    • Contact for pricing
      1.00 Acre

      Acre Lot in Riverton District

      Acre lot ready for custom build in Riverton School District.
      Galena, KS 66739
      View Details
    • Contact for pricing
      1.38 Acres

      Galena, KS Land - 1.38 Acres

      Prime 1.38-acre residential building lot.
      0000 Clark St, Galena, KS 66739
      View Details
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    401 Buchanan Ln
    Galena, KS 66739
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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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