McCurdy Absolute Auction - Thursday, April 8th, 2021 at 2:30 PM

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30718928
Property Subtypes: Free-Standing Building, Mixed Use, Retail-Pad, Street Retail, Other
Status: Pending
Building Status: Proposed
Building Size (RSF): 8,052 SF
Gross Land Area: 0.40 - 0.50 Acres
Sale Price: See Agent
Property Use Type: Vacant/Owner-User
Usable Size (USF): 8,052 SF
Sale Terms: Undisclosed
Up For Auction: Yes
Auction Type: Absolute
Cap Rate: Undisclosed
Average Occupancy Rate: 75
Last Updated: 4/8/2021

Overview / Comments

ONLINE ONLY!!! NO MINIMUM, NO RESERVE!!! Don't miss out on this rare opportunity to own commercial & residential properties on E. Central Ave. These 4 properties are selling as one, regardless of price. They are located just west of Central and Hillside, a few streets from the popular Revolutsia shopping space. This up-and-coming area creates the perfect investment opportunity with a total annual income of $13,800, with the potential for more!

2301 & 2303 E. Central Ave
2 buildings on 1 lot with additional parking
(Unit 2301) 1,056 sq. ft. commercial building, currently being used for residential - 5-year step lease currently paying $50 per month. See property information packet for lease.
(Unit 2303) 1,369 sq. ft. 3-bedroom, 1.5-bathroom home that is currently rented for $600 per month with tenant paying gas and electric, owner pays water and sewer. Tenant may be relocating.

2307 E. Central Ave
2,587 sq. ft. building with retail and warehouse spaces
Retail store with a large storefront and half bathroom, has central heat and air - was previously rented for $500 per month
Unfinished warehouse space with 1 overhead door, concrete floors. 5-year step lease currently paying $200 per month. See property information packet for lease. No heat or air currently, but there is a suspended gas furnace not in use. Functionality of furnace unknown.
Seller believes the two units have shared utilities.

2309 E. Central Ave
3,040 sq. ft. commercial building
Main level - automotive tenant paying $300 per month, MTM with no written lease. Includes 2 bays and 1 overhead door. Currently only utility hooked up is electricity. Flat room and some composition with concrete brick construction.
Upstairs - 2 former apartments in need of total rehabilitation. Currently not habitable or safe for entry.

448 N. Spruce Ave
0.09 +/- vacant lot zoned Limited Commercial
Formerly had a residential structure that had a fire and the site has been cleared.

Additional Details

Nearest MSA: Wichita
County: Sedgwick
Tax ID/APN: 087125220210100200
Retail Clientele: General
Property Visibility: Excellent
Largest Nearby Street: Central
Feet of Frontage: 86
Traffic/Vehicle Count: 18,815
Tenancy: Multiple Tenants
Total Number of Buildings: 4
Number of Stories: 2
Typical SF / Floor: 2,000 SF
Property Condition: Average
Year Built: 1940
Roof Type: Flat
Construction/Siding: Block
Total Parking Spaces: 10
Parking Type: Surface
Parking Description: Paved Parking
Heat Type: Natural Gas
Heat Source: Central
Zoning Description: Limited Commercial
Lot Frontage: 86
Lot Depth: 132
Water Service: Municipal
Sewer Type: Municipal
Legal Description: S 65FT LOTS 1-2 & S 65FT OF W 5FT LOT 3 SMYTH'S SUB. - N 70 FT LOTS 1-2 & W 5 FT OF N 70 FT LOT 3 SMYTH'S SUB. - E 20 FT LOT 3 SMYTH'S SUB. - LOTS 4-5 SMYTH'S SUB.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,493 135,183 250,982
Median Age: 30.01 32.88 34.01
Households: 5,010 54,839 103,133


Photograph of Listing Agent

Megan Rae Niedens

McCurdy Auction, LLC
KSCRE Member
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