1605 Main StOttawa, KS 66067

Property Details for 1605 Main St

Year built

1954

Construction

FRAME

Lot size

1.05 AC

Property size (Sq ft)

8,680 SF

Zone code

C2

Property type

Retail space

APN

131-11-0-10-01-007.00-0

APU

1311101001007000

Description

This exceptional freestanding retail storefront, located at 1605 S Main Street S in Ottawa, Kansas, presents a compelling investment opportunity. The 45,900 square foot lot houses a well-maintained, single-story building constructed in 1954, formerly occupied by Aldi's. The property boasts a newly installed 20-year roof (2023) and a recently sealed and striped parking lot (2023), ensuring low maintenance costs for the foreseeable future. Currently leased to a strong tenant with a lease extending through 2026, this provides immediate and consistent cash flow. The property's high-traffic location on a busy thoroughfare offers excellent visibility and accessibility, making it ideal for a variety of businesses. The expansive lot size also presents the potential for future expansion with the addition of further structures. This turnkey operation, situated in the desirable Franklin County, Kansas, zip code 66067, offers a rare blend of immediate return and long-term growth potential. The asking price is $850,000.

• CAP approach

  CAP return

  Valuation

  6%

  $2,147,132

  6.5%

  $1,981,968

  7%

  $1,840,399

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,564,619

  Geo Method

  $1,564,619

• Alternative Use

  Use

  Valuation

  Residential

  $1,671,864

  Hospitality

  $1,531,418

  Educational

  $1,274,122

  Medical

  $1,317,941

  Retail

  $1,981,968

Location Insight

City

Ottawa

County

Franklin

State

Kansas

Latitude

38.5918

Longitude

-95.2683

CBSA code

36840

CBSA name

OTTAWA, KS MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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