1700 Douglas AveWichita, KS 67203

Property Details for 1700 Douglas Ave

Year built

1930

Lot size

0.16 AC

Property size (Sq ft)

21,000 SF

Property type

Retail space

APN

087-125-22-0-23-05-006.00

APU

87125220230500600

Description

This exceptional 16,068-square-foot storefront property presents a rare redevelopment opportunity in Wichita's vibrant Delano District. Located at 1700 W Douglas Ave, this two-story building, constructed in 1928, sits on a 0.45-acre lot and offers significant potential for investors or owner-users. Currently, 7,500 square feet are leased to short-term tenants, a dance studio and a bookstore, generating immediate income. The remaining vacant space boasts a large, open floor plan, high ceilings, and abundant natural light, ideal for a variety of uses. An additional lot in the rear provides ample parking. The asking price is $1,175,000, translating to $73.13 per square foot. The property is zoned for Delano District uses. The anticipated occupancy date is July 18, 2024. This location benefits from its proximity to shops and restaurants within walking distance, and the city is actively enhancing West Douglas Avenue with street improvements and new amenities, promising increased foot traffic and visibility. This is a unique chance to acquire a substantial property in a thriving, historic district.

• CAP approach

  CAP return

  Valuation

  6%

  $4,757,795

  6.5%

  $4,391,810

  7%

  $4,078,110

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,367,334

  Geo Method

  $6,367,334

• Alternative Use

  Use

  Valuation

  Residential

  $3,704,657

  Hospitality

  $3,393,446

  Educational

  $2,823,307

  Medical

  $2,920,405

  Retail

  $4,391,810

Location Insight

City

Wichita

County

Sedgwick

State

Kansas

Latitude

37.6865

Longitude

-97.3171

CBSA code

48620

CBSA name

WICHITA, KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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