MLS # SCK627901 | Listing provided by with Berkshire Hathaway PenFed Realty
314 S Summit St is a $179,900, 11,700 square foot home on a 0.15 acre lot located in Arkansas City, KS.
Welcome to an extraordinary opportunity in the heart of Arkansas City's downtown area! This impressive building is bursting with potential and offers limitless possibilities for its future use. With its spacious upper level spanning over 3900 sqft, the potential for creating four separate apartment spaces is truly exciting. The building's original charm has been preserved, with intact hardwood floors and tin ceilings eagerly awaiting restoration to their former splendor. Notably, significant upgrades have already been completed, including the replacement of windows, plumbing, electrical systems, and the addition of hardwire fire sprinklers. These essential modernizations provide a solid foundation for the next phase - the delightful task of designing and reimagining this remarkable space. The lower level of the building boasts two store fronts, opening up exciting avenues for multiple income streams from this single property. For savvy entrepreneurs or investors, this presents an enticing opportunity to capitalize on the property's excellent location and maximize returns. What's more, this property is eligible for the neighborhood revitalization tax abatement program - a true added bonus! This program offers an impressive 75% rebate for a period of 7 years, commencing upon the project's permit completion. This remarkable tax incentive further enhances the allure and financial benefits of this investment. Now is the perfect time to seize this amazing chance to revive and rejuvenate this downtown gem. Embark on an exciting journey of transforming this building into a thriving hub of activity and opportunity. Call the listing agent today!
| Interior Features | Tile Wood |
| Cooling Types | Central Air Electric |
| Heating Types | Forced Air Gas |
| Parking Types | Street Parking |
| Exterior Features | Electricity Gas Janitorial Service Sewer Trash Collection Water City Sewer City Water 110V Gas Electric City Arterial |
| Construction Types | constype112 |
| Property Type | Commercial Sale |
| Property Sub Type | Retail |
| Year Built | 1886 |
| HOA Fee | $0.00 |
| Taxes | $2,847.00 |
| County | cowley |
| Neighborhood | Arkansas City |
This information is not verified for authenticity or accuracy, is not guaranteed, and may not reflect all real estate activity in the market. The information being provided is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.Copyright 2023 South Central Kansas MLS, Inc.
