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104 N Main St

3,976 SF 100% Leased Office Building Mcpherson, KS 67460 $200,000 ($50/SF) 7.91% Cap Rate

Investment Highlights

  • 2000+ Sq. Ft basement with bathroom (unfinished)
  • Low maintenance
  • Fully Leased

Executive Summary

Nestled in the heart of McPherson, this commercial property is not just a building; it's a bustling hive of opportunity. Imagine this: you've got upper level of multiple chic apartments, each with their own charm, offering a cozy retreat for urban dwellers. But wait, there's more! The main level? It's a trifecta of commercial bliss with three offices, one of which boasts a storefront that's practically begging for foot traffic. The main level includes a kitchenette and bathroom! And let's dive into the basement - a whopping 2,000+ square feet of raw, unfinished potential along with a partial bathroom. Think of it as your own subterranean canvas, ready for whatever entrepreneurial masterpiece you wish to create. Here's the kicker: **it's fully leased** with low rents & plenty of value to be added. Yes, you heard that right. No vacancy headaches, just steady income from established tenants who love the location as much as you will. This property isn't just an investment; it's a statement. A statement that says, "I've got my finger on the pulse of McPherson." With heavy traffic and a strategic intersection, visibility is guaranteed. So, whether you're looking to expand your portfolio or start your real estate journey with a bang, this property in McPherson's downtown is your golden ticket. Don't just invest in property; invest in a legacy.
Buyer agent and Buyer to verify any and all information deemed important including square footage, measurements, schools, taxes/specials, acreage. All information deemed reliable but not guaranteed; no warranties expressed or implied.

Financial Summary (Pro forma - 2024)

Annual Annual Per SF
Gross Rental Income $33,600 $8.45
Other Income - -
Vacancy Loss - -
Effective Gross Income $33,600 $8.45
Taxes $5,331 $1.34
Operating Expenses $12,452 $3.13
Total Expenses $17,783 $4.47
Net Operating Income $15,817 $3.98

Financial Summary (Pro forma - 2024)

Gross Rental Income
Annual $33,600
Annual Per SF $8.45
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual $33,600
Annual Per SF $8.45
Taxes
Annual $5,331
Annual Per SF $1.34
Operating Expenses
Annual $12,452
Annual Per SF $3.13
Total Expenses
Annual $17,783
Annual Per SF $4.47
Net Operating Income
Annual $15,817
Annual Per SF $3.98

Property Facts

Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Office/Residential
Building Size
3,976 SF
Building Class
C
Year Built/Renovated
1900/2016
Price
$200,000
Price Per SF
$50
Cap Rate
7.91%
NOI
$15,817
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
1,988 SF
Building FAR
1.29
Land Acres
0.07 AC
Zoning
Commercial/Residential - Main level is commercial/industrial. 2nd level is residential.

Amenities

  • Storage Space
  • Basement
  • Central Heating
  • Partitioned Offices
  • Drop Ceiling
  • Air Conditioning

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
138-28-0-20-39-008.00-0
Land Assessment
$8,703
Improvements Assessment
$29,002
Total Assessment
$37,705
Annual Taxes
$5,331 ($1.34/SF)
Tax Year
2024
  • Listing ID: 32829804

  • Date on Market: 8/16/2024

  • Last Updated:

  • Address: 104 N Main St, Mcpherson, KS 67460

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