2734 Woodlawn BlvdBel Aire, KS 67226

Property Details for 2734 Woodlawn Blvd

Year built

2004

Lot size

1.61 AC

Property size (Sq ft)

11,028 SF

Property type

Medical offices

Property subtype

Medical centers

APN

087-113-06-0-23-02-005.00

APU

87113060230200500

Description

This exceptional Class A executive office building, located at 2734 N Woodlawn Blvd in Bel Aire, Kansas, presents a compelling investment opportunity. Boasting 11,028 square feet within a single-story structure situated on a 1.61-acre lot, this property offers significant potential. The building is currently zoned for general office use and features excellent visibility with frontage along Woodlawn Avenue and convenient access via a signalized intersection. Purpose-built for diagnostic and imaging applications, the highly functional layout allows for easy conversion to suit a variety of future uses. The property enjoys a prime location, benefiting from high traffic volume and strong demographics, and is conveniently situated next to the HCA Wesley Medical Center Woodlawn Campus. The asking price is $3,255,000, representing a 6.5% cap rate, projected to increase to 6.83%. The lease term runs from October 1, 2021, to September 30, 2026. Landlord responsibilities include roof and structural repairs/replacements. The occupancy date for a new tenant is October 24, 2024. This is a rare opportunity to acquire a well-located, versatile commercial property in a thriving area of Wichita, Sedgwick County, Kansas (zip code 67226).

• CAP approach

  CAP return

  Valuation

  6%

  $1,905,843

  6.5%

  $1,759,240

  7%

  $1,633,580

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,326,889

  Geo Method

  $1,326,889

• Alternative Use

  Use

  Valuation

  Residential

  $2,181,458

  Hospitality

  $1,998,203

  Educational

  $1,662,482

  Medical

  $1,719,657

  Retail

  $2,586,083

Location Insight

City

Wichita

County

Sedgwick

State

Kansas

Latitude

37.7335

Longitude

-97.2617

CBSA code

48620

CBSA name

WICHITA, KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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