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    2234 S Oliver, Wichita, KS 67218

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    COMMERCIAL - Wichita, KS

    Property size:
    5,440 SF
    Lot size:
    0.52 Acres
    Added:
    May 18, 2026
    Days on Market:
    19
    Last Refresh:
    Jun 5 at 7:06 pm

    Property Features for 2234 S Oliver

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Limited Comm
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    127-36-0-32-05-012.00
    Lot size
    0.52 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    S 100 FT N 300 FT RESERVE A MC ADAM ACRES ADD.
    Tax Annual Amount
    6468

    Utilities

    Utilities
    Electricity Available
    Sewer type
    Public Sewer
    Heating system
    Forced Air, Electric (Heating)
    Cooling system
    Central Air, Electric
    Water source
    Public

    Building Details

    Year built
    1969
    Floors in Building
    1
    Flooring type
    Tile
    Building materials
    Block, Pre-cast, Stucco
    Roof type
    Flat

    We can help!

    Listing Contact
    Megan Rae Niedens

    Listing agent Megan Rae Niedens License #SP00225554

    Listing office McCurdy Real Estate & Auction, LLC 12041 E 13th St N, wichita, KS

    Listing date May 18, 2026

    MLS# 673653

    Copyright © 2026 South Central Kansas MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Online‑only public auction: bidding opens Tuesday, June 16, 2026 at 2:00 PM CT and closes Wednesday, June 24, 2026 at 2:45 PM CT.
    • 5,440+/- SF commercial building on approximately 0.52+/- acres at the high‑traffic corner of Oliver & Pawnee in Wichita.
    • Limited Commercial zoning with paved parking lot and overhead door access.
    • Former gym layout with large open floor plan, 3 office spaces, and 2 restrooms; set up for venue or multi‑purpose use.
    • Extensive updates reported: new exterior stucco and paint; new sewer lines, PEX lines, toilets, sinks, and urinals; new Navien 250 water heater.
    • New HVAC/electrical items reported: two new 3‑phase 5‑ton Rheem RTUs with roof curbs, new ductwork and registers, and new 200‑amp Siemens 120/208V 3‑phase service.

    Overview

    This remodeled 5,440+/- square foot commercial building was formerly operated as a gym and is set up for multi-purpose use. The interior includes a large open floor plan, three office spaces, and two restrooms. The building also features overhead door access. Updates noted by the seller include extensive interior remodeling and exterior improvements, including new exterior stucco and exterior paint, as well as system and finish upgrades such as new sewer lines, new PEX lines, new plumbing fixtures, a new Navian 250 water heater, new duct work and registers, updated electrical service (including new wiring and a 200 amp Siemens 3-phase service), new LED lighting, new ceramic tile flooring, new acoustical ceiling, and refreshed interior finishes.

    The property sits on an approximately 0.52+/- acre lot and is zoned Limited Comm. It is offered on an online-only auction basis with preview available by appointment. The building is positioned near the high-traffic corner of Oliver and Pawnee in Wichita, with paved parking on site.

    With its open configuration, dedicated office areas, and overhead door access, the space can fit a range of operators looking for a flexible venue/event space, church use, fitness facility, office headquarters, or other multi-purpose commercial concept, subject to applicable requirements. Buyer should review the property information packet for the full list of seller updates, and verify any school-related information as assignments may change. The real estate is sold in its present “as is where is” condition.
    Property Profile Location Intelligence

    Current Use by Public Records

    Fitness centers & gyms

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Villa Boxing — 2780 S Roosevelt St, Wichita, KS 67210
    • Plainview Cricket Field — wichita, ks 67210

    Location Insight

    • Map
    • Local Demand
    City
    Wichita
    County
    Sedgwick
    State
    Kansas
    Longitude
    -97.279849
    Latitude
    37.652433

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    FAQs

    What type of property is this?
    Fitness center & gym - Remodeled former gym with large open floor plan, office spaces, and overhead door access for flexible commercial use.
    Where is this fitness center & gym located?
    The property is located at 2234 S Oliver Wichita, KS.
    What are key features of this property?
    This property features: Online‑only public auction: bidding opens Tuesday, June 16, 2026 at 2:00 PM CT and closes Wednesday, June 24, 2026 at 2:45 PM CT.; 5,440+/- SF commercial building on approximately 0.52+/- acres at the high‑traffic corner of Oliver & Pawnee in Wichita.; Limited Commercial zoning with paved parking lot and overhead door access.
    (316) 683-0612
    We can help!
    Listing Contact
    Megan Rae Niedens
    Real Estate License ID: SP00225554
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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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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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