Catylist ID:
#30328383
KELLOGG & MERIDIAN 2AC NW CORNER 94,400 TRAFFIC COUNT PER DAY
Retail-Commercial
for Sale
Also listed as Hospitality
| Catylist Listing ID: | 30328383 |
| Property Subtypes: | Car Wash, Convenience Store, Day Care Facility, Free-Standing Building, Mixed Use, Restaurant, Retail-Pad, Service Station/Gas Station, Street Retail, Other |
| Building Status: | Proposed |
| Building Size (RSF): | 87,480 SF |
| Gross Building Area: | 174,240 SF |
| Gross Land Area: | 87,480 SF |
| Sale Price: | $1,250,000 |
| Unit Price: | $14.29 PSF |
| Property Use Type: | Investment, Business |
| Building Name: | RE Development Site -SF Rentals to COMMERCIAL |
| Usable Size (USF): | 174,240 SF |
| Sale Terms: | Cash to Seller, Purchase Money Mortgage, Owner Financing |
| Cap Rate: | Undisclosed |
| Last Updated: | 3/13/2021 |
Overview / Comments
|
Development Opportunity of the NW Corner of Meridian and Kellogg LC Zoning. Directly west of the Friends University Campus, just north of the Kansas Newman University campus, 2nd exit east of the new I-235 interchange, and 2 exits from the CBD and Downtown Wichita. These 7+ parcels are only offered as a package sale, and make a triangle between the Railroad tracks, Kellogg Feeder and Meridian. Most recent Traffic Count on Kellogg is 94,400 with North on Meridian 15,886 and South on Meridian at 18,318 as of 2018. Approximately 464 front footage on Meridian, and 338 Ft on Kellogg feeder road this 2 Acre purchase opportunity includes multiple parcels between the intersection of Meridian and W Kellogg/Hwy 54/400 and the RR tracks on the north. See Attached Documents for Long Legal and Exhibit B. Currently with 8 rental units and the irregular contiguous property on the south and west to the RR Tracks only sold together. Rented while your buyer secures zoning change, plan approval and financing. Alley Vacation in progress MAPD approved 2-7-2019, awaiting Westar plan for relocation of utilities and easement. |
Attachments & Media
Financials
| Finance Data Year | 2019 |
|---|---|
| Real Estate Taxes - Annual($) | $2,919 (Annual) |
| Tax Value Improvements | $73,100 |
| Gross Operating Income | $45,600 (Annual) |
| Actual or Proforma Year | Actual |
| Lender Name | None |
| Loan Amount | $0 |
| Annual Debt Service | $0 (Annual) |
Additional Details
| Nearest MSA: | Wichita |
| County: | Sedgwick |
| Taxing Authority: | Sedgwick County |
| Tax ID/APN: | 13725-0140100-600 |
| Zoning: | LC - LIMITED COMMERCIAL |
| Retail Clientele: | General, Family, Business, Traveler, Tourist, Convention, Other |
| Property Located Between: | Meridian & Edwards Street on Kellogg/Hwy 54/400 |
| Property Visibility: | Excellent |
| Largest Nearby Street: | Meridian and Edwards Exit |
| Traffic/Vehicle Count: | 94,400 |
| Highway Access: | Highway 54/400/Kellogg with Traffic count 94,400 per Day then North on Meridian 13,376 and South on Meridian at 16,129, Traffic Count Above is Kellogg 83600 |
| Airports: | Serviced by Dwight D Eisenhower Airport in Wichita |
| Site Description: | Feeder Road & Highway visibility at Meridian and Hwy 54/400 Kellogg intersection 800 ft frontage X 131 ft depth approximate to a point on the north boundary of RR tracks with minimal usage serving industrial area rail needs south of Kellogg. |
| Area Description: | 2 College Campus' traffic and all those living in their immediate surrounding area as well as the business and industrial traffic exiting to head south. |
| Tenancy: | Single Tenant |
| Total Number of Buildings: | 6 |
| Number of Stories: | 1 |
| Typical SF / Floor: | 875 SF |
| Property Condition: | Good |
| Year Built: | 1930 |
| Year Renovated: | 1952 |
| Construction/Siding: | Other |
| Exterior Description: | Variety of siding and original materials over the 7 structures sitting on the 6 lots |
| Total Parking Spaces: | 16 |
| Parking Type: | Structure, Surface |
| Parking Description: | Adequate parking for current rentals - opportunity for your development subject to city/County approval and requirements |
| Sprinklers: | None |
| Heat Type: | Electricity, Natural Gas |
| Heat Source: | Central, Other |
| Air Conditioning: | Window Unit, Other |
| Internet Access: | Cable, Satellite, Other |
| Interior Description: | See Summary Rent Roll |
| Zoning Description: | Limited Commercial Zoning to allow Hotel, Convenience Store/Gas Station, or Multi-Family, Student Housing, Retail, Restaurant. Strip Center, Office and all other approved uses LC Uses!! |
| Lot Frontage: | 800 |
| Lot Depth: | Varies from Kellogg Feeder Road to Meridian - Triangular in shape |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
| Easements: | Electric Lines, Ingress/Egress |
| Easements Description: | Utilities: electric lines will need relocation to develop full area potential, Westar is Preparing an estimate now...will update ASAP! Easements will be made for their relocated site. Alley vacation has been approved by MAPD 2-7-2019 |
| Land Ownership: | Corporate |
| Legal Description: | Mulitple Legals - see Additional Documents |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 14,261 | 102,045 | 232,901 |
| Median Age: | 31.52 | 33.56 | 34.03 |
| Households: | 5,933 | 42,438 | 92,851 |
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