BANK OWNED MULTI-USE DEVELOPMENT OPPORTUNITY IN DOWNTOWN WICHITA

Office for Sale
Distressed
Catylist Listing ID: 30521335
Property Subtypes: Executive Suites, Mixed Use, Office Building
Building Size (RSF): 487,403 SF
Gross Land Area: 0.96 Acres
Sale Price: See Agent
In Opportunity Zone? Yes
Property Use Type: Investment
Class of Space: Class C
Sale Terms: Other
Cap Rate: Undisclosed
Short Sale/Bank-Owned: Yes
Last Updated: 10/28/2019

Overview / Comments

- 4th tallest building in Kansas
- 19 floors
- 289 rent-able parking spaces and valet service in parking garage
- Uses: retail, hotel, office and apartment
- Wichita, the largest city in Kansas with a population 389,965, is the county seat of Sedgwick County. Major highways, including the Kansas Turnpike, US 400 and Interstate I-135, link the city with a large trade area that encompasses a population of more than one million people within a 100-mile radius. The nearest large cities are Denver to the west, Kansas City of the northeast, and Oklahoma City to the south, and Tulsa to the southeast.

- In the 20th century, aircraft pioneers such as Clyde Cessna, Walter Beech and Bill Lear began projects that would lead to Wichita’s establishment as the “Air Capital of the World.” In 1917, the Cessna Comet was the first airplane that was manufactured in Wichita. Cessna and Beechcraft remain based in Wichita today, along with Learjet and Spirit Aerosystems. Airbus maintains a workforce in Wichita. Since the growth of the aircraft industry began during the inter-war years, Wichita has been a leading producer of general aviation and commercial aircraft. McConnell Air Force Base was activated in 1951 and has remained an important factor in the community.
Wichita has long been known as a center of entrepreneurship. In addition to aircraft pioneers, Fred Koch founded Koch Industries in Wichita, and Dan and Frank Carney founded Pizza Hut. Coleman, Freddy’s Frozen Custard, and many other successful companies began in Wichita.

Additional Details

Nearest MSA: Wichita
County: Sedgwick
Tax ID/APN: 087124200140702100
Zoning: CENTRAL BUSINESS DISTRICT
Property Visibility: Excellent
Total Number of Buildings: 1
Number of Stories: 19
Year Built: 1967
Year Renovated: 2017
Parking Type: Structure

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,787 128,708 243,805
Median Age: 34.61 33.25 33.69
Households: 4,198 52,243 99,305
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