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

    820 Main St Wichita, KS 67203

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Prime Wichita Office, 5,435 SF, $450K

    Property size:
    5,435 SF

    Property Features for 820 Main St

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    5,435 SF
    Class
    C
    Lot Size
    10,454 SF

    Building Details

    Year Built
    1965

    We can help!

    Listing Contact
    Evan Larue
    Evan Larue

    Listing Agency: Street Commercial Listing Agent: Evan Larue

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

    Learn more

    Property Insight Report

    Overview

    This exceptional 5,435-square-foot traditional office building, located at 820 N Main in Wichita, Kansas, presents a compelling owner-user investment opportunity. Priced at $450,000 ($82.80/sq ft), this Class C property boasts a recently completed remodel, showcasing attractive exposed brick interior walls. Built in 1965, the building sits on a 0.24-acre lot in Sedgwick County, offering convenient access to the city's core amenities. Its central location provides the advantage of being within walking distance of the court houses, enhancing its appeal for legal professionals or businesses requiring proximity to the judicial system. The property is available for sale by owner and the occupancy date is August 1, 2024. This presents a unique chance to acquire a well-situated, renovated office space in a thriving Kansas city. The zip code is 67203. The property's prime location and recent renovations make it an ideal choice for businesses seeking a functional and aesthetically pleasing workspace. This is a rare opportunity to own a piece of Wichita's commercial real estate landscape.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Holubec & Loy LLC Law Firm Inspire Counseling & Support ... Crisis Center Marsh Steven D Accounting Firm Karen Fleming Financial Advisor Wealth Trek Advisors Bank

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Wichita
    County
    Sedgwick
    State
    Kansas
    Longitude
    -97.338196303007
    Latitude
    37.698275669873

    Nearby Similar for Sale

    • New
      $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
    • $350,000
      2,562 SF

      New Duplex Construction Near Highway

      New construction duplex with modern finishes and strong rental potential.
      437 N Grove St, Wichita, KS 67214
      View Details
    • $178,000
      Pending

      Wichita Duplex: Investor Opportunity

      Well-maintained duplex, vacant, rent-ready, great investment or owner-occupancy.
      1205-1207 E Scott St, Wichita, KS 67216
      View Details
    • $379,800
      Pending

      New Duplex with Modern Amenities

      New duplex featuring modern amenities, zero entry, and fenced yard.
      12711 W Cowboy St, Wichita, KS 67235
      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
    • $379,800
      Pending

      New Duplex with Modern Amenities

      New duplex featuring modern amenities, zero entry, and fenced yard.
      12717 W Cowboy St, Wichita, KS 67235
      View Details
    • $149,000
      1,482 SF

      Income-Producing Tri-Plex Near Downtown

      Well-maintained tri-plex with strong rental potential near downtown.
      830 S Market St, Wichita, KS 67213
      View Details
    • $125,000
      Pending

      Wichita Duplex Near WSU

      Well-maintained duplex near Wichita State University, ideal for investors.
      1309 N Lorraine Ave, Wichita, KS 67214
      View Details
    • $149,900
      Pending

      Updated Triplex in Riverside

      Remodeled triplex in Riverside neighborhood, Wichita. Great investment opportunity.
      1103 N Jackson Ave, Wichita, KS 67203
      View Details
    • $255,000
      2,516 SF

      Wichita Duplex with Fenced Yard

      Duplex featuring two units, back patios, and fenced backyard.
      527 N Gordon St, Wichita, KS 67203
      View Details
    • New
      $125,000
      912 SF

      Well-Maintained Duplex Near Friends University

      Duplex with long-term tenant, vacant unit, near Friends University.
      505 S Meridian Ave, Wichita, KS 67213
      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?
    Office Property / Space - Prime Wichita Office, 5,435 SF, $450K
    Where is this office property / space located?
    The property is located at 820 Main St Wichita, KS.
    What is the asking price?
    The asking price for this property is $450,000.
    (316) 773-2707 Call to check price and availability
    Request Owner's contact information
    820 Main St Wichita, KS 67203
    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.
    820 Main St
    Wichita, KS 67203
    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
    820 Main St Wichita, KS 67203
    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!
    Contact for Pricing
    Please call us for current price
    and status of this listing Evan Larue
    Evan Larue
    (316) 773-2707 (316) 263-7242 (316) 214-8191
    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!