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    Property profile & analytics

    609 Commercial St Emporia, KS 66801-3901

    • Retail space
    • 17,310 SF
    • 0.20 lot acres
    OFF-MARKET
    Value Estimations
    $610,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US33-1249716
    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

    • John P. Kollhoff, PharmD / Pharmacy

    Property Details for 609 Commercial St

    Year built
    1900
    Construction
    FRAME
    Lot size
    0.20 lot acres
    Property size
    17,310 SF
    Property type
    Retail space
    APN
    192-10-0-30-42-008.00-0
    APU
    1921003042008000

    Description

    This well-maintained commercial building, located at 609 Commercial Street in the heart of Emporia, Kansas, presents a fantastic investment opportunity. Situated on a desirable city block, this property offers significant potential for a variety of commercial uses. The building's prime downtown location ensures high visibility and accessibility, making it an ideal choice for businesses seeking a strong presence in the Emporia market. While the exact square footage is not currently specified, the building's size and layout offer ample space for adaptation to suit diverse business needs. The asking price is $249,000, representing a compelling value for a property with such strong location advantages and redevelopment potential. This is a rare opportunity to acquire a well-maintained commercial building in a thriving downtown area. The property's existing condition minimizes upfront renovation costs, allowing for a quicker return on investment. Serious inquiries are encouraged to explore the possibilities this property offers. Don't miss this chance to secure a valuable asset in a dynamic and growing community. The property sits on a lot with zero acres. Further details regarding the building's interior and specific zoning regulations are available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $470,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $750,000
      Market price range: $750k - $1.99M

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

    Location Insight

    • Map
    • Local Demand
    City
    Emporia
    County
    Lyon
    State
    Kansas
    Longitude
    -96.1805
    Latitude
    38.4055
    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
    $7,794
    $12,000
    $36,680
    $48,680
    -
    $48,000
    $146,720
    $194,720

    Comparable in this City

    • Value Estimation
      $1,235,000
      19,468 SF

      628 Merchant St

      RETAIL STORES (PERSONAL SERVICES) • 19,468 SF
      628 Merchant St, Emporia, KS 66801-2968
      View Details
    • Value Estimation by Request
      3,620 SF

      23 6th Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,620 SF
      23 6th Ave, Emporia, KS 66801-3919
      View Details
    • Value Estimation by Request
      4,454 SF

      15 4th Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,454 SF
      15 4th Ave, Emporia, KS 66801-3965
      View Details
    • Value Estimation
      $1,360,000
      17,542 SF

      815 Commercial St

      RETAIL STORES (PERSONAL SERVICES) • 17,542 SF
      815 Commercial St, Emporia, KS 66801-2914
      View Details
    • Value Estimation by Request
      7,686 SF

      1923 6th Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,686 SF
      1923 6th Ave, Emporia, KS 66801-6423
      View Details
    • Value Estimation by Request
      11,054 SF

      204 Commercial St

      RETAIL STORES (PERSONAL SERVICES) • 11,054 SF
      204 Commercial St, Emporia, KS 66801-4009
      View Details

    Similar Nearby for Sale

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      96.00 Acres

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    Similar Nearby for Lease

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      1,020 SF

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      View Details
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    609 Commercial St
    Emporia, KS 66801-3901
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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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