3000 Kellogg DrWichita, KS 67213

Property Details for 3000 Kellogg Dr

Year built

1963

Construction

FRAME

Lot size

0.47 AC

Property size (Sq ft)

12,458 SF

Property type

Garden apartment buildings

APN

087-137-25-0-13-02-031.00

APU

87137250130203100

Description

This exceptional 18,824-square-foot commercial property, situated on a 2-acre lot at 3000 W Kellogg Dr in Wichita, Kansas, presents a compelling investment opportunity. Recently renovated in November, this former office building has been transformed into 27 upscale apartment units, each boasting high-end finishes including granite countertops, soft-close cabinetry, LVP flooring, and LED ceiling fans. All major systems—electrical, plumbing, HVAC, fire, and sprinkler—are brand new and fully compliant with current building codes. The property is immediately income-generating, requiring no further capital investment. Eight on-site washers and dryers provide supplemental revenue. Its location near Newman University and Friends University ensures strong tenant demand from students and professionals. This turnkey asset offers a low-maintenance operation with significant income potential and a strong cap rate, promising both immediate returns and long-term value growth in a high-demand market. The property's modern amenities and superior design create exceptional tenant appeal, contributing to a robust and stable income stream. This is a rare chance to acquire a high-quality, income-producing asset in a prime Wichita location.

• CAP approach

  CAP return

  Valuation

  6%

  $2,380,889

  6.5%

  $2,197,744

  7%

  $2,040,762

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,323,367

  Geo Method

  $2,323,367

• Alternative Use

  Use

  Valuation

  Residential

  $2,197,744

  Hospitality

  $2,013,121

  Educational

  $1,674,893

  Medical

  $1,732,495

  Retail

  $2,605,390

Location Insight

City

Wichita

County

Sedgwick

State

Kansas

Latitude

37.6751

Longitude

-97.3788

CBSA code

48620

CBSA name

WICHITA, KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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