Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$810,000
Office buildings
415 Iron Ave Salina, KS 67401-2634
Entity Owned
Absentee Owner
Free & Clear
Property ID
US33-0249535
Property summary
AI-generated overview
This charming two-story, 5,344 square foot traditional office building, constructed in 1890 and renovated in 1977, is located at 415 E Iron Ave, Salina, KS 67401. The property sits on an 18,000 square foot lot and is zoned C-3. The building features multiple tenancies, offering a variety of office spaces on both the main and upper levels. Amenities include a common area waiting room, break room, restrooms, and a conference room. Convenient off-street and on-street parking is available. The Krug Building enjoys excellent visibility on East Iron Avenue, in close proximity to the Salina Community Theatre, Blackwell & Struble Law Office, Allure Downtown Salon & Spa, and Kansas Physical Therapy Partners. This property presents a unique opportunity in a desirable location within Saline County. The building does not include elevators. A virtual tour is available.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1977
Construction
FRAME
Total area
6,880 SF
Lot
0.41 ac (18,000 SF)
APN
086-13-0-20-02-006.00
UPID
US33-0249535
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$764k
Blend (final)
Blend
$810k
Owner & transaction history
JARVIS KATHERINE H TRUST TR SHARE (KRUG PHILIP C T
JARVIS KATHERINE H TRUST TR SHARE (KRUG PHILIP C T
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Salina submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salina 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
OFFICE BUILDING
$975,000
Current use
RESTAURANT
$915,000
Change: -6% · Conversion: Moderate
MEDICAL BUILDING
$795,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$810k
Range $729k – $891k · ±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
$118 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$13,291
Tax year 2023
Assessed value
$96,098
Assessed 2023
Previous assessed
$96,098
+0.0% YoY
Effective rate
13.83%
On assessed value
Assessed land
$30,375
Assessed improvement
$65,723
Land market value
$121,500
Improvement market value
$262,890
Total market value
$384,390
Applied tax rate
10.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1977
Construction
FRAME
Heating
YES
Cooling
CENTRAL
Total area
6,880 SF
Lot
0.41 ac (18,000 SF)
APN
086-13-0-20-02-006.00
UPID
US33-0249535
Jurisdiction
SALINE
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
OFFICE BUILDING Current
Est. value
$975,000
RESTAURANT
Est. value
$915,000
MEDICAL BUILDING
Est. value
$795,000
OFFICE BUILDING Current
RESTAURANT
MEDICAL BUILDING
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
1977
Construction
FRAME
Heating
YES
Cooling
Yes
Lot
0.41 ac
Current owner
From public records · entity-resolved
JARVIS KATHERINE H TRUST TR SHARE (KRUG PHILIP C T
Entity
Free & Clear · 0 yrs held
Mailing address
30 CRESTVIEW DR, SALINA, KS 67401-3576
Mailing matches property
Different — outreach signal
Owner-occupied
No
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 415 Iron Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
