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: 11/30/2021

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.


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
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

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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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