Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    5246 N Meridian Ave Wichita, KS 67204

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    1.88 acre commercial land with access to K-96.

    Lot size:
    1.88 Acres

    Property Features for 5246 N Meridian Ave

    General Information

    Standard status
    Active
    Lot size
    1.88 Acres

    We can help!

    Listing Contact
    Andrea Ray
    Andrea Ray
    Source: Crexi

    Listing Agency: Landmark Commercial Real Estate Listing Agent: Andrea Ray

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Commercial Land on Meridian Avenue

    This 1.88-acre commercial land parcel offers quick access to K-96 and direct north-south connectivity via Meridian Avenue. The area benefits from a truck and commuter-friendly corridor with consistent daily traffic. It is surrounded by residential neighborhoods to the east and west, and features established commercial and service uses along Meridian.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy Big Box & Wholesale Store Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Wichita
    County
    Sedgwick
    State
    Kansas
    Longitude
    -97.370672
    Latitude
    37.7794452

    Nearby Similar for Sale

    • New
      $398,000
      3,064 SF

      Two-Story Twin Home Investment Property

      Two-unit home with modern amenities and rental potential.
      1323 W Nottingham Cir, Wichita, KS 67204
      View Details
    • $325,000
      Pending

      West Wichita Duplex: Investment Opportunity

      Well-maintained duplex in West Wichita near shopping, dining, and entertainment.
      9323 W 16Th St N, Wichita, KS 67212
      View Details
    • New
      $255,000
      2,516 SF

      Wichita Duplex with Fenced Yard

      Duplex featuring two units, fenced yard, and convenient amenities.
      527 N Gordon St, Wichita, KS 67203
      View Details
    • $249,900
      0.21 Acres

      Versatile Commercial Property in Wichita

      Commercial property with overhead doors, ideal for automotive businesses.
      3419 E Harry St, Wichita, KS 67218
      View Details
    • New
      $319,900
      0.34 Acres

      Mixed-Use Investment Property Available

      Seven-unit property with retail and residential spaces for sale.
      220-224 W Harry St, Wichita, KS 67213
      View Details
    • $350,000
      2,562 SF

      New Duplex Under Construction

      New construction duplex with modern finishes and strong rental appeal.
      437 N Grove St, Wichita, KS 67214
      View Details
    • $497,800
      2,960 SF

      New Duplexes in Crescent Creek

      New duplexes in Wichita's Crescent Creek community with modern amenities.
      711 N Rainbow Lake Rd, Wichita, KS 67235
      View Details
    • Contact for pricing
      11,493 SF

      Versatile Commercial Property on Broadway

      Well-maintained commercial property with extensive renovations and Broadway frontage.
      3101 S Broadway St, Wichita, KS 67216
      View Details
    • $354,500
      2,360 SF

      Wichita Duplex with Income Potential

      Income-generating duplex in Wichita, KS, with tenant leases in place.
      3846-3848 S Blue Lake St, Wichita, KS 67215
      View Details
    • $395,000
      Pending

      New Duplex with Modern Layout

      New construction duplex with 4 bedrooms, 3 baths, fenced yard.
      731-733 N Elder St, Wichita, KS 67212
      View Details
    • $365,000
      Pending

      Well-Maintained Duplex in West Wichita

      Turnkey duplex in prime location, ideal for owner-occupants or investors.
      2242 N Shefford Cir, Wichita, KS 67205
      View Details
    • New
      $88,000
      1,092 SF

      Wichita Duplex Near WSU

      Side-by-side duplex near Wichita State University with immediate income potential.
      2615 E Stadium Dr, Wichita, KS 67214
      View Details

    FAQs

    What type of property is this?
    Commercial land - 1.88 acre commercial land with access to K-96.
    Where is this commercial land located?
    The property is located at 5246 N Meridian Ave Wichita, KS.
    What are key features of this property?
    This property features: - 1.88 acre lot size; - Quick access to K-96; - Direct north-south connectivity via Meridian Ave.
    (316) 262-2442
    Request Owner's contact information
    5246 N Meridian Ave Wichita, KS 67204
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5246 N Meridian Ave
    Wichita, KS 67204
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    5246 N Meridian Ave Wichita, KS 67204
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Andrea Ray
    Andrea Ray
    Real Estate License ID: 00248575
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!