120 Lincoln StLindsborg, KS 67456

Property Details for 120 Lincoln St

Year built

1917

Construction

FRAME

Lot size

0.08 AC

Property size (Sq ft)

2,080 SF

Property type

Retail space

APN

034-17-0-10-31-002.00-0

APU

341701031002000

Description

This exceptional investment opportunity presents a 2,450 square foot commercial building situated on a 0.06-acre lot at 120 W Lincoln St, Lindsborg, KS. The property boasts three distinct rental spaces, all currently occupied, generating a combined monthly rental income of $1,125. The front retail space, totaling 700 square feet, has recently undergone renovations, including new interior paint, flooring, lighting, and an updated restroom. This space also features a mini-split HVAC unit and a separate electrical meter. The middle unit, occupied by Smoky Valley Printing, comprises 825 square feet and includes a mini-split HVAC unit, restroom, and a separate electrical meter. The rear unit, a 925 square foot warehouse space, offers concrete flooring and the potential for a garage door opening onto the alley. While this space is unheated and uncooled, it provides excellent storage options. Tenants are responsible for their own electricity, while water and trash services are covered by the landlord. The building is currently all-electric, although gas service is available. The City of Lindsborg permits the use of the two rear spaces as potential living quarters, presenting a unique opportunity for owner-occupancy or a live-work arrangement. This property offers a compelling blend of income generation and versatile usage potential, making it an attractive investment prospect. The asking price is $157,000.

• CAP approach

  CAP return

  Valuation

  6%

  $528,410

  6.5%

  $487,763

  7%

  $452,923

• Comparable approach

  Method

  Valuation

  Relative Method

  $630,669

  Geo Method

  $630,669

• Alternative Use

  Use

  Valuation

  Residential

  $411,446

  Hospitality

  $376,883

  Educational

  $313,562

  Medical

  $324,346

  Retail

  $487,763

Location Insight

City

Lindsborg

County

Mcpherson

State

Kansas

Latitude

38.5731

Longitude

-97.6749

CBSA code

32700

CBSA name

MCPHERSON, KS MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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