Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    502 College Dr Garden City, KS 67846-6183

    • Medical offices
    • 11,250 SF
    • 2.09 lot acres
    OFF-MARKET
    Value Estimations
    $965,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US33-1256860
    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

    • Medical offices

    Property Details for 502 College Dr

    Year built
    2018
    Construction
    FRAME
    Lot size
    2.09 lot acres
    Property size
    11,250 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    274-17-0-40-01-004.00-0
    APU
    2741704001004000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $650,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,279,000
      Market price range: $631k - $1.28M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $990,000
      Current use
      RESTAURANT
      $1,345,000
      Change: +36% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,185,000
      Change: +20% Conversion: Difficult
      OFFICE BUILDING
      $1,130,000
      Change: +14% Conversion: Easy
      WAREHOUSE, STORAGE
      $840,000
      Change: -15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Garden City
    County
    Finney
    State
    Kansas
    Longitude
    -100.849
    Latitude
    37.9667
    CBSA code
    23780
    CBSA name
    GARDEN CITY, 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
    $97,361
    $32,015
    $576,335
    $608,350
    -
    $128,060
    $2,305,340
    $2,433,400

    Comparable in this City

    • Value Estimation by Request
      6,712 SF

      707 Kansas Plz

      MEDICAL BUILDING • 6,712 SF
      707 Kansas Plz, Garden City, KS 67846-5866
      View Details
    • Value Estimation by Request
      1,289 SF

      912 5th St

      MEDICAL BUILDING • 1,289 SF
      912 5th St, Garden City, KS 67846-5640
      View Details
    • Value Estimation
      $930,000
      18,718 SF

      911 Main St

      MEDICAL CLINIC • 18,718 SF
      911 Main St, Garden City, KS 67846-5438
      View Details
    • Value Estimation by Request
      2,881 SF

      512 7th St

      MEDICAL BUILDING • 2,881 SF
      512 7th St, Garden City, KS 67846-5525
      View Details
    • Value Estimation
      $1,755,000
      26,638 SF

      410 Spruce St

      MEDICAL BUILDING • 26,638 SF
      410 Spruce St, Garden City, KS 67846-5659
      View Details
    • Value Estimation
      $845,000
      9,580 SF

      919 Zerr Rd

      MEDICAL CLINIC • 9,580 SF
      919 Zerr Rd, Garden City, KS 67846-2777
      View Details

    Similar Nearby for Sale

    • $1,300,000
      12,231 SF

      Fully Rented Commercial Building

      Commercial building with diverse tenants and high visibility location.
      1502 East Harding Ave, Garden City, KS 67846
      View Details
    • $269,900
      2,269 SF

      Garden City Office Building For Sale

      Stand-alone building on East Kansas Ave, suitable for office/sales/service.
      605 E Kansas Plz, Garden City, KS 67846
      View Details
    • $295,000
      2,590 SF

      Updated Commercial Building on Large Lot

      Versatile, updated commercial building with ample space and expansion potential.
      2790 Anderson Rd, Garden City, KS 67846
      View Details
    • $250,000
      1.79 Acres

      Garden City Commercial Land Opportunity

      1.79-acre commercial lot in a high-growth Garden City corridor.
      2808 N Taylor Plz, Garden City, KS 67846
      View Details
    • $90,000
      3.81 Acres

      Residential Lot in Sagebrush Estates

      3.81-acre residential lot ready for your dream home.
      825 S Wilderness Rd, Garden City, KS 67846
      View Details
    • $60,000
      1.05 Acres

      Garden City Acreage for Home

      Residential land in new Garden City subdivision, over one acre.
      2055 Whitetail Ln, Garden City, KS 67846
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,750 SF

      Prime Creative Office Space Available

      1,750 SF Single-Tenant Retail/Office
      1010 Mary St, Garden City, KS 67846
      View Details
    • Contact for pricing
      50,641 SF

      Retail Suites Inside Dillons Stores

      Retail and office suites available within Dillons Grocery Stores.
      1211 Buffalo Jones Ave, Garden City, KS 67846
      View Details
    • $4,648 /Mo
      50,965 SF

      Garden City Office/Retail Space

      Highly visible office or retail space in downtown Garden City.
      911 N Main St, Garden City, KS 67846
      View Details
    • $126 SF/Yr
      5,040 SF

      Garden City Airport Retail Space

      Modern airport retail space, 1,260 sq ft available.
      602 Mary St, Garden City, KS 67846
      View Details
    • Contact for pricing
      27,200 SF

      Garden City Plaza Retail Space

      Prime Retail, Office Space Available
      2214 Kansas Ave, Garden City, KS 67846
      View Details
    • Contact for pricing
      2,342 SF

      Retail Space in Garden City

      2,342 SF retail space with highway visibility available for rent.
      3104 E Kansas Ave, Garden City, KS 67846
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    502 College Dr
    Garden City, KS 67846-6183
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.