216 Murdock StWichita, KS 67203

Property Details for 216 Murdock St

Year built

1978

Construction

FRAME

Lot size

0.11 AC

Property size (Sq ft)

3,362 SF

Property type

Office buildings

APN

087-124-17-0-41-05-005.00-C

APU

087124170410500500C

Description

This exceptional 3,400 square foot office building presents a unique investment opportunity in the heart of Downtown Wichita. Built in 1978, this two-story structure sits on a 0.11-acre lot and is zoned for general office use. The building features a durable masonry exterior, minimizing maintenance needs for the owner. The flexible floor plan is ideal for a single tenant seeking ample space or can easily be configured for multiple tenants, perhaps as executive suites or with dedicated conference areas. On-site parking is available, a significant advantage in a bustling urban setting. The interior includes multiple bathrooms and kitchenettes, adding to the functionality and appeal of the space. This property offers a compelling combination of established infrastructure and a location poised for significant growth and redevelopment within the vibrant downtown Wichita area. The single-tenant occupancy provides immediate income potential, while the adaptable layout allows for future expansion or diversification of tenants. This is a rare opportunity to acquire a well-maintained, centrally located office building with strong potential for future appreciation. The building's solid construction and convenient amenities make it an attractive option for a variety of businesses.

• CAP approach

  CAP return

  Valuation

  6%

  $518,163

  6.5%

  $478,305

  7%

  $444,140

• Comparable approach

  Method

  Valuation

  Relative Method

  $404,516

  Geo Method

  $404,516

• Alternative Use

  Use

  Valuation

  Residential

  $593,098

  Hospitality

  $543,274

  Educational

  $451,998

  Medical

  $467,543

  Retail

  $703,108

Location Insight

City

Wichita

County

Sedgwick

State

Kansas

Latitude

37.6978

Longitude

-97.3402

CBSA code

48620

CBSA name

WICHITA, KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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