- 12,032
- sqft
- 1914
- year built
- Status:
- Active
- MLS #:
- 2651477
- County:
- Allen
- Listed By:
- Jennifer Chester - Crown Realty
- Agent Phone:
- (620) 228-1413
- Agent Email:
- jenniferchester@crownrealty.com
Sponsoring Broker: Jennifer Staats, ez Home Search, Inc.
Prime Investment Opportunity: Mixed-Use Potential in the Heart of Iola Unlock the potential of this substantial 12,000+ sq. ft. brick landmark, perfectly positioned on a major thoroughfare just steps from the historic town square in Iola, Kansas. Ideally located in a thriving region, this property offers a strategic midpoint: just 1.5 hours south of Kansas City, and only two hours from both Wichita and Tulsa. This property offers the rare combination of immediate cash flow, significant value-add upside, and a position within an upcoming community that is actively growing, highlighted by exciting new local projects and developments. Property Highlights: Total Versatility: 12,000+ sq. ft. of total space, split evenly across two levels. Proven Retail Location: The 6,000+ sq. ft. main level is currently occupied, generating steady commercial income. Benefit from high visibility and constant exposure with over 8,000 vehicles passing daily. Value-Add Potential: The 6,000+ sq. ft. second level is a blank canvas ready for redevelopment. With the layout already primed for multifamily living, this is an incredible opportunity to finish out apartments and maximize your return on investment. Recent Capital Improvements: Purchase with peace of mind knowing the heavy lifting is done. The building features a brand-new roof and a stunning, modernized facelift on the front exterior that enhances curb appeal and structural integrity. Whether you are looking to secure a stable income stream from the existing retail tenants or capitalize on the growing demand for downtown housing in Iola, this building is positioned for success. Don't miss out on one of Iola’s most visible and versatile commercial properties. Contact us today to schedule your private tour and see the potential for yourself!
Highlights
- Business Opportunity
- Business
- Built in 1914
- 0.13 Acre Lot
- 2 days on Market
-
- Year Built
- 1914
-
- Stories
- 2.0
-
- Parking Features
- On Street
-
- Interior Features
- Storage, In-Law Floorplan
-
- Acres
- 0.13
-
- Utilities
- Sewer Available, Electricity Available, Water Available, Natural Gas Available
-
- Area
- 490 - Allen County, KS
-
- County
- Allen
-
- City
- Iola
-
- Zip Code
- 66749
-
Ask a Question
ez Mortgage Calculator
Enter your details below to estimate your monthly mortgage payment with taxes, fees and insurance.
$
Please enter a valid number
Cost of the current home: $225000
$
%
Please enter a valid number
Cash you pay when you close
Affects interest rates. 30- or 15- year loans are standard.
%
Default rate is illustrative, set internally by ez Home Search and updated periodically; actual rates vary by lender, credit score, and market conditions.
$
%
Please enter a valid number
$
Please enter a valid number
Typically 0.25% of home value per year.
$
Please enter a valid number
Homeowners association dues.
$ 0
Monthly
Principal and interest:
Property Taxes:
Homeowners Insurance:
HOA Dues:
$0 (0%)
$0 (0%)
$0 (0%)
$0 (0%)
The ez Mortgage Calculator is for educational purposes only. Real-world interest rates and payments can differ due to factors like market trends, location, and loan specifics. Calculations are based on your inputs and might not consider extra costs a lender may add, such as insurance, taxes, and fees; thus, actual repayments could surpass estimates. Please note, ez Home Search does not provide loans, and this tool does not promise lending.
Price History
| 11/12/2026 | Listed | $225,000 |
| Source: Heartland MLS #2651477 | ||
Source: MLS Data
What's your home worth?
Calculate your current home value within seconds.
Similar Listings
Look Throughout Iola
There are currently 50 properties available in Iola, with 0 under contract to close soon. Properties in the city have an average sale price of $166,399 and typically spend 129 days on the market before being sold.
Want to compare this property to others available for sale in the area? Use our search to find exactly what you want among our 2,000,000+ listings and to see incredible photos to show you what is possible.
With 7 zip codes in Allen County, you have many options in the area. Be sure to claim your free ez Home Search account to make sure you get alerts when a property that meets your needs becomes available.
Source: ez Home Search, MLS Data
Frequently Asked Questions
How do I schedule a tour of 101 E Madison Ave?
We can make that happen quickly. Click Tour This Home and we'll connect you directly with our vetted local partner to schedule your visit to 101 E Madison Ave.
They know business opportunitys in the area well and can give you the guidance you need to buy with confidence.
How do I get more information about 101 E Madison Ave?
Click Ask a Question to talk with our team. You already know it is a N/A bed, N/A bath, listed for $225,000. We can talk through recent upgrades, potential seller motivation, how this business compares to others in Iola, and can even get you in to see the property quickly.
How do I get a virtual tour of 101 E Madison Ave?
Yes! A virtual tour is available for 101 E Madison Ave. Click here to view the full walkthrough and explore every room at your own pace. If you would like a guided virtual showing or have questions along the way, we can connect you with our local expert to walk you through it live.
How much is the monthly mortgage payment for 101 E Madison Ave?
With a 20% down payment and a 30-year fixed loan at an illustrative 7.25% rate, the ez Mortgage Calculator estimates the monthly payment for 101 E Madison Ave at around $1,648. This includes estimated property taxes and insurance.
Want to see how this changes with different down payments or interest rates? Jump to the calculator to run the numbers and fine-tune your plan.
How do I get pre-approved to buy 101 E Madison Ave?
Stand out in a competitive market by getting pre-approved today. Our quick and private pre-approval process helps you understand your true buying power—no credit pull required to explore all of your options.
Or, let us connect you with our preferred local lender in Allen County. They will give you all of your available financing options, based on your specific situation and what is available to you.
Can I negotiate the asking price for 101 E Madison Ave?
In most cases, yes. Whether 101 E Madison Ave is priced competitively or not, your best offer depends on your personal situation, the seller's timeline, and recent activity in Iola's market. Our preferred local partner will help you craft a strategy—factoring in comparable properties that have sold, timing, and deal structure—to make a smart, strong offer. Click here to ask about negotiation opportunities.
How do I make an offer on 101 E Madison Ave?
We can handle that for you. Our preferred local agent specializes in business opportunitys in Iola and can guide you through every step of the offer process.
You need an expert who is looking out for your best interests. From market valuation to contingencies and timing, they'll help you present a compelling offer that fits your goals. Click Ask a Question to get started today.
What is the price per square foot for this home?
This home is listed at $225,000 with 12,032 sqft of space—that comes out to approximately $19 per square foot.
How long has this property been on the market?
101 E Madison Ave was listed on November 12, 2026, which means it's been on the market for 2 days.
Want to keep tabs on it? Click the ♥ to favorite this home and get notified of price drops or changes.
When was this house built?
This home was built in 1914, making it approximately 112 years old.
What is the lot size of this property?
101 E Madison Ave sits on a 0.13-acre lot, which is 5,663 square feet.
What are the property taxes for 101 E Madison Ave?
The most recent public record shows annual property taxes for 101 E Madison Ave were approximately $4,407. This may change with reassessment or exemptions. Our local partner can verify current tax amounts and help you estimate future costs based on your situation.
Is 101 E Madison Ave still available for sale?
Yes, this home is still available! Click the ♥ to favorite it so you don't miss any changes—or ask our local expert to schedule a time to see it in person.
Source: ez Home Search, MLS Data
Popular Home Searches in Iola, KS
Open Houses Near Iola, KS
Land for Sale Near Iola, KS
Townhomes for Sale Near Iola, KS
Waterfront Homes for Sale Near Iola, KS
Waterfront Condos for Sale Near Iola, KS
Homes with Pools for Sale Near Iola, KS
Gated Community Homes for Sale Near Iola, KS
Homes with No Hoa for Sale Near Iola, KS
Homes in Adult Communities for Sale Near Iola, KS
Search Nearby Cities
Search Nearby Counties
Search Nearby Postal Codes
Based on information submitted to the MLS GRID as of November 14, 2026 at 11:00PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Copyright 2026, Heartland MLS. All rights reserved.
Last Updated: November 14, 2026 at 11:00PM | Source: Heartland MLS | MLS#: 2651477
