Technical
Financial
Distress signals
Property profile

422 Main St Ottawa, KS 66067

OFF-MARKET
Retail space
Property ID
US33-0237487
11,532 SF 0.48 ac lot Built 1927
Entity Owned Free & Clear
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Property summary

AI-generated overview

This stunning, historic Masonic Temple building in Ottawa, Kansas, presents a unique investment opportunity. Located on a 0.24-acre lot at 422 S Main Street, this impressive property boasts a total of 30,000 square feet, encompassing two finished floors of approximately 10,000 square feet each, and a 10,000 square foot unfinished basement. The main levels feature a variety of office spaces, perfect for a multitude of uses. A significant highlight is the expansive auditorium, complete with a balcony and stage, ideal for events or large gatherings. Further enhancing its versatility is a fully equipped commercial kitchen and adjacent dining hall area. The basement provides ample storage space. The building is equipped with concrete floor joists, ensuring structural integrity. Accessibility is enhanced by a stair lift, providing wheelchair access to the second floor. Currently, multiple spaces are leased, generating a monthly income exceeding $4,000. Note that all current leases expire December 31, 2024. The property benefits from recent upgrades, including a new roof installed in November 2021 and a six-year-old boiler. The second floor showcases beautiful oak hardwood floors, and the building features eight restrooms. This exceptional property offers significant income potential and the chance to own a piece of Ottawa's rich history. The possibilities are endless. Priced at $500,000.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1927
Total area 11,532 SF
Lot 0.48 ac (20,909 SF)
Zoning code C3
APN 087-35-0-40-16-007.00-0
UPID US33-0237487

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Volunteer Organization Community Center
  • Art Studio

Location

422 Main St Ottawa, KS 66067-2334
Ottawa metro Census 954400 OTTAWA, KS MICROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$425k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$490k

Owner & transaction history

Zoning & alternative use

C3 · Ottawa, KS

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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