Stabilized Multifamily with Office
3000 W Kellogg Dr Wichita, KS 67213
For Lease
$4,250,000 SF/Yr
28-unit multifamily asset with office income near Newman University and Friends University, operating at approximately 98% occupancy.
Property Size18,824 SF
Lot Size2.70 Acres
Days on Market24
Property Features for 3000 W Kellogg Dr
General Information
- Standard status
- Active
- Size
- 18,824 SF
- Lot size
- 2.70 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1963
Listing Agency:
Red Cedar Land Company
(316) 844-6633
Listed By:
Ridge Estes
Source:
Urbancoolhomes
Added: Jun 30
Changed: Jul 23
Last Checked: Jul 23 at 4:38AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Red Cedar Land Company
Investment Insights
Based on property information with market context.
Lofts by Viewpointe is a stabilized 28-unit multifamily property that was fully redeveloped to institutional-quality standards. The building was rebuilt from the ground up to provide modern infrastructure and premium finishes, and it includes institutional-grade security systems with key fob access, fingerprint-controlled entry, package drop systems, and comprehensive camera coverage. The property also includes office income alongside upgraded residential units, with maintained occupancy of approximately 98%.
The asset is positioned on highly visible Kellogg frontage and is located directly adjacent to Newman University and Friends University. The current site area is approximately 2.7± acres following the recent acquisition of adjacent land.
Based on seller-provided financials, the property generated approximately $347,925 in gross income and approximately $302,677 in net operating income during 2025, with 2026 operating performance annualizing to approximately $313,025 in NOI. Expansion opportunity includes recently acquired land and preliminary planning concepts for additional one- and two-bedroom units, subject to zoning, engineering, permitting, utility capacity, construction feasibility, and all required approvals.
The asset is positioned on highly visible Kellogg frontage and is located directly adjacent to Newman University and Friends University. The current site area is approximately 2.7± acres following the recent acquisition of adjacent land.
Based on seller-provided financials, the property generated approximately $347,925 in gross income and approximately $302,677 in net operating income during 2025, with 2026 operating performance annualizing to approximately $313,025 in NOI. Expansion opportunity includes recently acquired land and preliminary planning concepts for additional one- and two-bedroom units, subject to zoning, engineering, permitting, utility capacity, construction feasibility, and all required approvals.
Key Highlights
- 28‑unit multifamily property with office income near Newman University and Friends University, operating at ~98% occupancy
- 2025 gross income approx. $347,925 and 2025 NOI approx. $302,677; 2026 annualized NOI approx. $313,025
- In‑place cap rate approx. 7.12% at the $4,250,000 asking price; estimated DSCR approx. 1.29x based on 2025 performance
Property Analytics
Location Intelligence
Current Use by Public Records
Office Units
FAQs
What type of property is this?
Apartment building - 28-unit multifamily asset with office income near Newman University and Friends University, operating at approximately 98% occupancy.
Where is this apartment building located?
The property is located at 3000 W Kellogg Dr Wichita, KS.
What is the lease rate?
The lease rate is $4,250,000.
What are key features of this property?
This property features: 28‑unit multifamily property with office income near Newman University and Friends University, operating at ~98% occupancy; 2025 gross income approx. $347,925 and 2025 NOI approx. $302,677; 2026 annualized NOI approx. $313,025; In‑place cap rate approx. 7.12% at the $4,250,000 asking price; estimated DSCR approx. 1.29x based on 2025 performance
