601 3rd Pl Manhattan, KS 66502-5908
Entity Owned
Absentee Owner
Free & Clear
Estimated value (blended)
$1.33M
Range $1.19M – $1.46M (±10%)
Property ID
US33-0208693
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
2021
Construction
TILT-UP CONCRETE
Total area
79,296 SF
Lot
6.35 ac (276,606 SF)
Zoning code
PUD
APN
204-18-2-10-20-001.00-0
UPID
US33-0208693
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
-
Atm
-
Pharmacy
-
Post Office
-
Food Market Restaurant
-
Bakery Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.53M
Blend (final)
Blend
$1.33M
Owner & transaction history
Zoning & alternative use
PUD · Manhattan, KS
Top alternative use upside
Medical building
$10.4M
+32.9%
Auto repair, garage
$8.2M
+4.7%
Commercial (general)
$8.2M
+4.1%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
4 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
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Summary
1
Valuation conclusion
Included free
Estimated market value
$1.33M
Value range
$1.19M – $1.46M
±10% around blend
Estimated value / SF
$17 / SF
Confidence
Property data
88
Comparable evidence
60
$1.19M
blend $1.33M
$1.46M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
79,296 SF
Lot area
6.35 ac
Year built
2021
Stories
2
APN
204-18-2-10-20-001.00-0
Assessed value
$1,901,451
Annual tax
$273,821
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$7.53M
Range $4.45M – $11.05M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.33M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Alternative use screening
Partial preview
Top alternative use
Medical Building
Gross theoretical uplift
+33%
vs current-use indication
Auto Repair, Garage
Commercial (general)
Retail Stores · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.90M
Move the market yield to see immediate price impact.
Value / SF
$24
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$120k
$2.40M
$1.71M
$1.33M
$133k
$2.66M
$1.90M
$1.48M
$146k
$2.93M
$2.09M
$1.63M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$273,821
Tax year 2022
Assessed value
$1,901,451
Assessed 2023
Previous assessed
$1,750,001
+8.7% YoY
Effective rate
14.40%
On assessed value
Assessed land
$656,508
Assessed improvement
$1,244,943
Land market value
$2,626,030
Improvement market value
$4,979,770
Total market value
$7,605,800
Applied tax rate
10.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
2021
Construction
TILT-UP CONCRETE
Heating
YES
Cooling
AC.PACKAGE
Stories
2
Units
1
Bathrooms
10
Total area
79,296 SF
Lot
6.35 ac (276,606 SF)
Zoning code
PUD
APN
204-18-2-10-20-001.00-0
UPID
US33-0208693
Jurisdiction
RILEY
Zoning & alternative use
PUD · Manhattan, KSZoning PUD · permitted uses
PUD · Manhattan, KS
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
2021
Construction
TILT-UP CONCRETE
Heating
YES
Cooling
Yes
Stories
2
Units
1
Bathrooms
10
Lot
6.35 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
PUD
Jurisdiction
Manhattan, KS
Recorded code
PUD
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for PUD in Manhattan, KS.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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