1501 Douglas AveWichita, KS 67211

Property Details for 1501 Douglas Ave

Year built

1935

Lot size

0.50 AC

Property size (Sq ft)

51,021 SF

Property type

Flex space

APN

087-125-21-0-41-02-002.00-A

APU

087125210410200200A

Description

This exceptional redevelopment opportunity presents 84,070 square feet of office space in the vibrant Douglas Design District, Sedgwick County. Strategically located near the signalized intersection of Douglas and Hydraulic, this single building property offers significant potential. The property features two suites, with 50,000 square feet currently vacant, divisible into spaces ranging from 12,000 to a maximum contiguous 38,000 square feet. Built in 1923, the building boasts 112 parking spaces, a significant advantage in a bustling urban setting. The CBD zoning allows for a variety of uses, making it ideal for a modern coworking space, creative office complex, or a combination thereof. This is a unique chance to capitalize on the area's growth and revitalization. Significant financial incentives are available, including state and federal tax credits, and the property may qualify for property tax abatement. 2023 property taxes totaled $26,366.39 ($26,259.69 general, $106.70 special assessments). This presents a compelling investment opportunity with substantial upside potential in a highly sought-after location. The property's size and flexibility make it suitable for a wide range of development plans, catering to the evolving needs of today's businesses. Don't miss this chance to acquire a landmark property in a rapidly developing area.

• Alternative Use

  Use

  Valuation

  Residential

  $9,000,728

  Hospitality

  $8,244,618

  Educational

  $6,859,426

  Medical

  $7,095,332

  Retail

  $10,670,218

Location Insight

City

Wichita

County

Sedgwick

State

Kansas

Latitude

37.6858

Longitude

-97.3194

CBSA code

48620

CBSA name

WICHITA, KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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