1020 Main StWichita, KS 67203

Property Details for 1020 Main St

Year built

1987

Construction

FRAME

Lot size

0.60 AC

Property size (Sq ft)

11,180 SF

Property type

Office buildings

APN

087-124-17-0-14-07-008.00-A

APU

087124170140700800A

Description

This 11,180-square-foot, single-story Class B office building in Wichita, Kansas, presents a compelling investment opportunity. Built in 1987 and extensively renovated in 2010, the property features five suites totaling 10,286 net rentable square feet, currently vacant except for two suites occupied by a non-profit organization, SER Corporation, which has federal grant funding. SER Corporation's presence offers potential for a long-term lease or sale. Each suite boasts separate electric meters, with tenants responsible for utilities. Suite A (2,036 SF) includes six private offices, a reception area, and a kitchenette. Suite B (2,064 SF) offers two private offices, a large coworking area, and a conference room. All suites have private bathrooms and kitchenettes, plus access to shared common areas. Recent improvements include a 2019 roof replacement and HVAC unit upgrades within the last seven years. The property includes 33 parking spaces in a fenced lot with a gated entry. Located at 1020 N Main, it's near Park Elementary School, the Breakthrough Clubhouse, and various professional offices, within a mile of county offices and Ascension Via Christi St Francis, and two miles from the downtown core. The 0.6-acre lot is zoned for neighborhood retail. The asking price is $975,000 ($87.21/SF).

• CAP approach

  CAP return

  Valuation

  6%

  $1,723,102

  6.5%

  $1,590,555

  7%

  $1,476,944

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,345,178

  Geo Method

  $1,345,178

• Alternative Use

  Use

  Valuation

  Residential

  $1,972,289

  Hospitality

  $1,806,606

  Educational

  $1,503,075

  Medical

  $1,554,768

  Retail

  $2,338,116

Location Insight

City

Wichita

County

Sedgwick

State

Kansas

Latitude

37.7013

Longitude

-97.3377

CBSA code

48620

CBSA name

WICHITA, KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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