1845 Rock RdWichita, KS 67207

Property Details for 1845 Rock Rd

Year built

1987

Construction

FRAME

Lot size

0.36 AC

Property size (Sq ft)

4,800 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

087-119-31-0-14-01-010.00

APU

87119310140101000

Description

This exceptional investment opportunity encompasses two adjacent properties at 1845 & 1885 S Rock Rd, Wichita, KS, totaling 9,614 square feet on a 0.72-acre lot. The property is currently generating income, presenting a strong value-add potential for the astute investor. 1845 S Rock Rd, a 4,800+ square foot building, houses two restaurant tenants under leases expiring between August 2027 and May 2028, generating a gross monthly income of $7,870. The neighboring property, 1885 S Rock Rd, offers 4,814 square feet, featuring one occupied restaurant suite (1,814+ sq ft) and a sizable vacant suite (3,000+ sq ft), ripe for lease-up or redevelopment. This dual-property offering presents a unique chance to acquire a well-located, income-producing asset with significant upside potential in a thriving Wichita market. The asking price for this combined property is $1,000,000. The existing leases provide immediate cash flow, while the vacant space and potential for lease increases offer substantial long-term growth opportunities. This is an ideal investment for those seeking a strong return on investment in a stable and desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,215,667

  6.5%

  $1,122,154

  7%

  $1,042,000

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,455,391

  Geo Method

  $1,455,391

• Alternative Use

  Use

  Valuation

  Residential

  $946,579

  Hospitality

  $867,061

  Educational

  $721,385

  Medical

  $746,194

  Retail

  $1,122,154

Location Insight

City

Wichita

County

Sedgwick

State

Kansas

Latitude

37.6603

Longitude

-97.2449

CBSA code

48620

CBSA name

WICHITA, KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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