ALMOST 11% PRICE REDUCTION — INCREDIBLE VALUE! Rare opportunity to own both a successful restaurant and the real estate on the historic Paola Square. The iconic Milo’s Steakhouse is a fully operational restaurant located in a prominent, character-filled downtown building with excellent visibility and traffic exposure. The main level features a bar and dining area with seating for approximately 75 guests. The upper level, previously configured as two apartments and currently used for storage, offers excellent potential for renovation, expansion, event space, or additional income. A rear-access basement provides additional storage. Sale includes the building, kitchen equipment, and fixtures for a smooth transition to new ownership. Zoned commercial and sold AS-IS. Buyer to verify all measurements, inspections, permitted uses, and renovation requirements with the City of Paola. Restaurant will remain open until the building sells. Additional information available in Supplements.
- Parking:
- On Street
- Utilities:
- Electricity Available, Sewer Available, Water Available, Service - 220v
- Exterior Features:
- Building Sign
- Zipcode:
- 66071
- Street:
- Peoria
- Street Number:
- 16
- Street Suffix:
- Street
- Longitude:
- W95° 7' 18.1''
- Latitude:
- N38° 34' 22.9''
- Street Dir Prefix:
- W
- Zoning:
- COM
- Directions:
- From Olathe - take US 169 south to Paola exit at Baptiste Dr and turn right. Make a left at Hedge Lane then a right at Peoria St. Continue west on Peoria to the square and the building is on the right. There is no real estate sign per seller's request.
- Mls Area Major:
- 380 - Miami County, KS
- Office Name:
- Crown Realty
- Agent Name:
- Joe Fester
- Tax Annual Amount:
- $0
- Association Fee:
- $0
- Stories Total:
- 2
- Business Type:
- Restaurant
- Current Use:
- Restaurant
- Co List Agent Full Name:
- Katie Casey
- Co List Agent Mls Id:
- KATIEC
- Co List Office Mls Id:
- CRWN07
- Co List Office Name:
- Crown Realty
- List Agent Mls Id:
- JFESTER
- List Office Mls Id:
- CRWN02
- Listing Term:
- Cash,Conventional
- Mls Status:
- Active
- Modification Timestamp:
- 2026-05-16T16:56:10Z
- Originating System Name:
- HMLS
Community: , Commercial Sale For Sale
16 W Peoria Street, Paola, Kansas 66071
- Property Type :
- Commercial Sale
- Listing Type :
- For Sale
- Listing ID :
- 2497339
- Price :
- $290,000
- Year Built :
- 1880
- Status :
- Active
- Property Sub Type :
- Retail
