2929 Central AveWichita, KS 67214

Property Details for 2929 Central Ave

Year built

1950

Construction

FRAME

Lot size

0.73 AC

Property size (Sq ft)

14,695 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

087-125-22-0-11-03-001.00

APU

87125220110300100

Description

This exceptional Class A medical office building, totaling 12,000 square feet, presents a unique investment opportunity in Wichita's thriving medical corridor. Completely renovated in 2022, this single-story building boasts three suites, with a minimum divisible space of 1,500 square feet and a maximum contiguous space of 12,000 square feet. Situated on a generous 31,629 square foot lot, the property offers ample parking with 30 stalls on-site, 12 additional stalls in a neighboring lot, and access to 40 more during business hours. The building features multiple entrances, allowing for flexibility in tenant configurations. Benefit from prominent building and pylon signage opportunities. Located west of Hillside on East Central, this property enjoys exceptional visibility and high traffic counts, with 34,536 vehicles passing daily at the Central and Hillside intersection. Its strategic location near Wesley Medical Center, a major employer with 900 physicians and 3,000 employees, ensures a strong tenant pool. The surrounding area is experiencing significant redevelopment, with nearby amenities including Walgreens, Starbucks, Chipotle, and many other popular restaurants and businesses. The property is zoned for Limited Commercial use and is ideally suited for medical, office, or retail tenants seeking a prime location in a growing area near the College Hill and Sleepy Hollow neighborhoods. Estimated 2022 NNN rent is $4.00 to $5.00 per square foot. Built in 1950.

• CAP approach

  CAP return

  Valuation

  6%

  $3,329,324

  6.5%

  $3,073,222

  7%

  $2,853,706

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,455,618

  Geo Method

  $4,455,618

• Alternative Use

  Use

  Valuation

  Residential

  $2,592,378

  Hospitality

  $2,374,604

  Educational

  $1,975,643

  Medical

  $2,043,588

  Retail

  $3,073,222

Location Insight

City

Wichita

County

Sedgwick

State

Kansas

Latitude

37.6934

Longitude

-97.302

CBSA code

48620

CBSA name

WICHITA, KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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