McCurdy Absolute Auction - Tuesday, October 23rd, 2018 at 12:00 PM

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30342080
Property Subtypes: Mixed Use, Retail-Pad
Status: Pending
Building Size (RSF): 6,500 SF
Gross Land Area: 22,000 - 30,000 SF
Sale Price: See Agent
Ceiling: 16 ft.
Property Use Type: Investment, Vacant/Owner-User, Business
Sale Terms: Undisclosed
Auction Type: Absolute
Cap Rate: Undisclosed
Last Updated: 11/14/2018

Overview / Comments

Live and Online Auction. NO MINIMUM, NO RESERVE!!! 6,555 Sq. Ft. Commercial multi-purpose retail building in Riverside Village neighborhood shopping center. The building has an open layout, suitable for retail, office or restaurant and could easily be reconfigured into various layouts. The building features a west section and an east section with separate entrances to allow for up to four individual tenants. The exterior is full brick with a surrounding parking lot featuring 40+ parking spaces. The utilities include four water meters, three electric meters and one gas meter, along with four furnaces and four A/C condensing units.

This property was originally the second shopping center in Wichita, built in 1950 by Walter Morris & Son and utilized as Jim Starkey Music Center. Per seller, In 1968, the building was open and walls were added for a studio. Approximately 15 years ago, additional studios were added. It was a music retail store, along with a music school and ten total studios. There are multiple large spaces that can be utilized as conference rooms, multi-purpose rooms, storage rooms, utility rooms, and on the west end, there is a lacquer room and polishing room. There are four half bathrooms and existing plumbing with a possibility to convert into shower space in two corners. There are so many possibilities for multiple businesses and configurations that the opportunities abound. Zoned LC Limited Commercial.

Call to schedule your property preview today and see everything this building has to offer!

*Buyer should verify school assignments as they are subject to change. The real estate is offered at public auction in its present, “as is where is” condition and is accepted by the buyer without any expressed or implied warranties or representations from the seller or seller’s agents. It is incumbent upon buyer to exercise buyer’s own due diligence, investigation, and evaluation of suitability of use for the real estate prior to bidding. It is buyer’s responsibility to have any and all desired inspections completed prior to bidding including, but not limited to, the following: roof; structure; termite; environmental; survey; encroachments; groundwater; flood designation; presence of lead-based paint or lead based paint hazards; presence of radon; presence of asbestos; presence of mold; electrical; appliances; heating; air conditioning; mechanical; plumbing (including water well, septic, or lagoon compliance); sex offender registry information; flight patterns, or any other desired inspection. Any information provided or to be provided by seller or seller’s agents was obtained from a variety of sources and neither seller nor seller’s agents have made any independent investigation or verification of such information and make no representation as to the accuracy or completeness of such information. Auction announcements take precedence over anything previously stated or printed. Total purchase price will include a 10% buyer’s premium ($1,500.00 minimum) added to the final bid. Earnest money is due from the high bidder at the auction in the form of cash, check, or immediately available, certified funds in the amount $5,000.

Additional Details

Nearest MSA: Wichita
County: Sedgwick
Retail Clientele: Business
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 1950
Roof Type: Flat
Exterior Description: All Brick
Parking Type: Surface
Parking Description: Paved
Heat Source: Central
Air Conditioning: Engineered System
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Lots 1-2-3 Replat of Lots 84-86-88-90-92-94-96 Motor Add.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 17,311 89,869 217,603
Median Age: 32.83 34.26 34.19
Households: 6,646 36,212 88,147


Photograph of Listing Agent

Megan Rae Niedens

McCurdy Auction, LLC
KSCRE Member
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