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    603 E 11Th Ave Emporia, KS 66801
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    Property profile & analytics

    603 E 11Th Ave Emporia, KS 66801

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    • Garden apartment buildings
    • 7,986 SF
    • 0.39 lot acres
    For Sale
    $715,000
    View Listing →
    Emporia Multifamily Investment Opportunity For Sale
    $715,000
    11,364 SF

    Emporia Multifamily Investment Opportunity

    Twelve units near Emporia State University with value-add potential.

    603 E 11th Ave, Emporia, KS 66801
    View Listing
    Property ID
    US33-1185422
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Garden apartment buildings

    Property Details for 603 E 11Th Ave

    Year built
    1968
    Construction
    FRAME
    Lot size
    0.39 lot acres
    Property size
    7,986 SF
    Property type
    Garden apartment buildings
    APN
    192-10-0-40-14-002.00-0
    APU
    1921004014002000

    Description

    This exceptional 12-unit apartment complex in Emporia, Kansas, presents a lucrative investment opportunity. Located at 603 E 11th Ave, this multifamily property boasts a total of 11,364 square feet situated on a 16,407 square foot lot. The asking price is $800,000, translating to a price per square foot of $70.40 and a price per unit of approximately $66,667. The building comprises twelve apartments

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $775,000
      Current use
      RESTAURANT
      $1,010,000
      Change: +30% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $665,000
      Change: -15% Conversion: Difficult
      WAREHOUSE, STORAGE
      $620,000
      Change: -20% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Emporia
    County
    Lyon
    State
    Kansas
    Longitude
    -96.172
    Latitude
    38.4108
    CBSA code
    21380
    CBSA name
    EMPORIA, 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
    2022
    $7,551
    $5,695
    $64,159
    $69,854
    -
    $49,520
    $557,900
    $607,420

    Comparable in this City

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      1400 Stanton St

      GARDEN APT, COURT APT (5+ UNITS) • 3,800 SF
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      8,112 SF

      1018 Ee St

      GARDEN APT, COURT APT (5+ UNITS) • 8,112 SF
      1018 Ee St, Emporia, KS 66801-3184
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    • Value Estimation
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      41,076 SF

      1401 12th Ave

      GARDEN APT, COURT APT (5+ UNITS) • 41,076 SF
      1401 12th Ave, Emporia, KS 66801-3469
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      201 7th Ave

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    • Value Estimation by Request
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      1122 Exchange St

      GARDEN APT, COURT APT (5+ UNITS) • 2,560 SF
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      View Details

    Similar Nearby for Sale

    • Contact for pricing
      11,364 SF

      Emporia Multifamily Investment Opportunity

      Twelve units near Emporia State University with value-add potential.
      603 E 11Th Ave, Emporia, KS 66801
      View Details
    • $685,000

      Emporia KS Apartment Complex

      12-unit apartment complex in Emporia, Kansas for sale.
      603-605 E 11Th Ave, Emporia, KS 66801
      View Details
    • $750,000
      11,364 SF

      Emporia, KS Apartment Complex

      12-unit apartment complex in Emporia, Kansas, featuring 2-bed/1-bath units.
      603-605 E 11Th Ave, Emporia, KS 66801
      View Details
    • $1,900,000
      39,000 SF

      Emporia Multifamily Investment Opportunity

      Prime Emporia location, 39,000 SF, multi-use building.
      1301 Chestnut St, Emporia, KS 66801
      View Details
    • $685,000

      Emporia KS Apartment Complex

      12-unit apartment complex in Emporia, Kansas, featuring two-bedroom apartments.
      603-605 E 11Th Ave, Emporia, KS 66801
      View Details
    • Contact for pricing

      Land For Sale

      Land available for sale.
      50 Hwy & Americus Rd, Emporia, KS 66801
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      290,000 SF

      Flinthills Mall Retail Space

      Emporia, KS retail center: 7 spaces available
      1632 Industrial Rd, Emporia, KS 66801
      View Details
    • $10 SF/Yr
      1,625 SF

      Emporia Retail Center Space Available

      Retail spaces available in a multi-tenant shopping center.
      1312 Industrial Rd, Emporia, KS 66801
      View Details
    • Contact for pricing

      Prime Emporia Retail Location

      Retail space in a vibrant, high-traffic Emporia location.
      1012 Commercial St, Emporia, KS 66801
      View Details
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      Emporia Retail Center For Rent

      Multi-tenant retail center in Emporia's primary retail corridor.
      1312 Industrial Rd, Emporia, KS 66801
      View Details
    • $10 SF/Yr

      Emporia Retail Space Available

      Retail space for lease in Emporia, Kansas.
      1312 Industrial Rd, Emporia, KS 66801
      View Details
    • Contact for pricing
      1,560 SF

      Retail Space in Walmart Outparcel

      High-visibility retail opportunity near I-35 and Walmart.
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    View Listing
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    Emporia, KS 66801
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    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
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