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    Dave Brown, Wichita, KS

    License ID: 00054967
    Years of Experience
    16
    Association
    Realtors Of South Central Kansas Inc

    Contact details

    Phone:
    (316) 461-6297
    Office Address:
    12021 E 13th St N, Wichita, KS, 67206

    Performance

    Listings
    8
    Total transactions
    163
    Total transactions amount
    $31M
    Price range
    $127k - 285k
    Average price
    $190k

    Listings

    For Sale (4)

    View map
    • Contact for pricing

      Highway 160 Commercial Revamp Opportunity

      Former fuel station on Highway 160 ready for transformation.
      308 W Main St, Oxford, KS 67119
      View Details
    • Contact for pricing
      862,171 SF

      Development Land at Maize Rd

      19.8 acres of development land in a growing retail corridor.
      3039 N Maize Rd, Wichita, KS 67215
      View Details
    • $350,000
      4,088 SF

      Retail/Restaurant Building in Downtown Wichita

      4,088 SF building in downtown Wichita, ideal for retail/restaurant.
      822 S Broadway Ave, Wichita, KS
      View Details
    • Contact for pricing
      104,283 SF

      Goddard Retail Lots Opportunity

      Prime retail lots near Goddard Aquatic Center.
      2 Block A Goddard Aquatic Ctr, Goddard, KS
      View Details

    For Lease (4)

    View map
    • $1,700,000
      1,888 SF

      New Construction Flex Warehouse Space

      New construction flex warehouse units available for lease in Wichita.
      331 S Greenwich Rd, Wichita, KS 67207
      View Details
    • Contact for pricing
      6,000 SF

      New Office Suites Available

      Newly constructed office suites for lease.
      1420 E 61St St N, Wichita, KS 67216
      View Details
    • Contact for pricing
      2,800 SF

      New Construction Office Suites Available

      New construction office suites for lease with high visibility.
      1500 E 61 St N, Park City, KS
      View Details
    • $399,900
      754 SF

      Freestanding Retail Building For Lease

      Freestanding commercial retail building with immediate income potential.
      2502 S Oliver St, Wichita, KS 67210
      View Details

    Leases and Sales on Map

    • For Sale
    • For Lease

    Properties for sale

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    Dave Brown, Wichita, KS
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    Dave Brown, Wichita, KS
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