621 2Nd StIndependence, KS 67301

Property Details for 621 2Nd St

Year built

1959

Lot size

0.89 AC

Property size (Sq ft)

18,696 SF

Property type

Assisted living facilities

Property subtype

Retirement homes

APN

099-31-0-40-08-011.00-0

APU

993104008011000

Description

This exceptional 19,292 square foot property, located at 621 S 2nd N/A in Independence, Kansas, presents a unique investment opportunity. Built in 1970, this single-story building sits on a 0.9-acre lot and boasts a classic H-layout, offering the potential for dual independent uses. Previously utilized as a residential assisted living facility, the property features 33 resident rooms and 36 bathrooms, along with a large commercial kitchen, ample living areas, dining space, and administrative offices. Its ADA accessibility ensures broad usability. The City of Independence actively supports business development through various incentives, including tax breaks, grants, and workforce training assistance. While previously used as an assisted living facility, this property is not suitable for long-term care or assisted living facilities going forward. The zoning for this property is R-1 and C-1. Explore the possibilities for this versatile space, ideal for a variety of uses including senior housing, educational or training centers, community centers, or other similar ventures. The property's infrastructure and layout provide significant flexibility for adaptive reuse. This is a remarkable opportunity to acquire a substantial property in a supportive community environment.

• CAP approach

  CAP return

  Valuation

  6%

  $1,593,095

  6.5%

  $1,470,549

  7%

  $1,365,510

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,537,924

  Geo Method

  $1,537,924

• Alternative Use

  Use

  Valuation

  Residential

  $1,865,454

  Hospitality

  $1,708,746

  Educational

  $1,421,656

  Medical

  $1,470,549

  Retail

  $2,211,465

Location Insight

City

Independence

County

Montgomery

State

Kansas

Latitude

37.2168

Longitude

-95.7002

CBSA code

17700

CBSA name

COFFEYVILLE, KS MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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