1941 61 StPark City, KS 67219

Property Details for 1941 61 St

Year built

2016

Lot size

2.84 AC

Property size (Sq ft)

25,001 SF

Property type

Office buildings

APN

087-095-15-0-22-04-001.00

APU

87095150220400100

Description

This exceptional mixed-use development in Park City, Kansas, presents a unique investment opportunity. Located on 48 acres at the southeast corner of 61st Street and Hydraulic Avenue, Park Centre is a master-planned community designed to create a vibrant downtown area. The development includes a central park, functioning as a farm and art market, providing a focal point for the community. Residential options include a substantial 416-unit apartment complex featuring a pool, amenity deck, and clubhouse, along with an 89-unit townhome complex. For commercial ventures, 96,000 square feet of leasable space is available, catering to a wide range of businesses. The project's anticipated completion date for the master plan is March 31st. This development offers a blend of residential and commercial opportunities, creating a dynamic and thriving community hub in Park City. The scale of the project, combined with its strategic location and diverse offerings, makes it an attractive proposition for investors seeking significant returns and long-term growth potential. The property is classified as Class A and offers a range of space options from 15,000 to 435,600 square feet, suitable for various commercial uses, including storefront and restaurant establishments. The development's design prioritizes community engagement and offers a unique blend of suburban living and retail experiences.

• CAP approach

  CAP return

  Valuation

  6%

  $3,853,244

  6.5%

  $3,556,840

  7%

  $3,302,780

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,008,120

  Geo Method

  $3,008,120

• Alternative Use

  Use

  Valuation

  Residential

  $4,410,482

  Hospitality

  $4,039,978

  Educational

  $3,361,214

  Medical

  $3,476,811

  Retail

  $5,228,555

Location Insight

City

Park City

County

Sedgwick

State

Kansas

Latitude

37.7954

Longitude

-97.3144

CBSA code

48620

CBSA name

WICHITA, KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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