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503 Broadway St Larned, KS 67550-3048

OFF-MARKET Retail space Google Maps
13,251 SF 0.14 ac lot Built 1890
Individually Owned Absentee Owner Free & Clear
Estimated value (blended)
$505k
Range $455k – $556k (±10%)
Property ID US33-0316599

Property summary

AI-generated overview

This exceptional mixed-use property, located at 503 Broadway St in Larned, Kansas, presents a unique investment opportunity. The building, encompassing 13,840 square feet on a 13,840 square foot lot, is a two-story structure zoned C-3 Commercial and Industrial, offering significant flexibility for redevelopment. Currently vacant, the main floor previously housed a bar/tavern featuring an open floor plan, ideal for a variety of commercial ventures. The second story, accessible via a separate entrance, presents substantial potential for conversion into multiple apartments, catering to the growing demand for rental housing. The building's prime downtown location in Larned, KS, zip code 67550, ensures high visibility and accessibility. With its substantial square footage and versatile zoning, this property is well-suited for a range of creative redevelopment projects, promising strong returns for the discerning investor. The asking price is $100,000. This represents a compelling opportunity to acquire a significant piece of Larned's commercial landscape and capitalize on its inherent potential. The property is situated in Pawnee County and offers a blank canvas for a savvy investor to create a thriving business and/or residential complex. The building's solid construction and ample space provide a strong foundation for future success.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1890
Construction FRAME
Total area 13,251 SF
Lot 0.14 ac (6,248 SF)
APN 109-32-0-40-17-009.00-0
UPID US33-0316599

Cap rate & NOI

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

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$395k
CAP Approach CAP
by Request
Comparable Approach Comparable
$612k
Blend (final) Blend
$505k

Owner & transaction history

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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