Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    NWC 21st and Andover Rd Andover, KS 67002

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    4-acre commercial land with frontage on 21st and Andover.

    Type:Land
    Lot size:
    4.00 Acres
    Added:
    Feb 12, 2021
    Days on Market:
    1908
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for NWC 21st and Andover Rd

    General Information

    Standard status
    Active
    Lot size
    4.00 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    David Leyh

    Listing agent David Leyh License #KS 00038138

    Listing office Landmark Commercial Real Estate

    Listing date Feb 12, 2021

    Source Crexi

    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 Landmark Commercial Real Estate

    Overview

    Prime Commercial Land Andover, KS

    This 4-acre commercial land parcel, comprising 174,240 square feet, is located at the northwest corner of 21st Street and Andover Road in Andover, Kansas. It features 650 feet of frontage on 21st Street and 275 feet of frontage on Andover Road. The property is situated a few miles from Wichita, which has a metro area population of 527,000. The 2022 taxes were $6,564.76, including general taxes of $54.22 and special assessments of $6,510.54, which are scheduled to be paid off in 2031. Andover is ranked as the #1 best suburb to buy a house in the Wichita area and #7 for places with the best public schools in Kansas.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Andover
    County
    Butler
    State
    Kansas
    Longitude
    -97.0855
    Latitude
    37.7002

    Nearby Similar for Sale

    • $1,300,000

      Andover RV Storage Facility

      12.1-acre RV storage facility with expansion potential.
      2919 E US Highway 54, Andover, KS 67002
      View Details
    • $364,900
      2,448 SF

      Andover Duplex with Modern Amenities

      Five-year-old duplex in Andover with desirable features and convenient location.
      1321 N Azena St, Andover, KS 67002
      View Details
    • $364,900
      2,448 SF

      Andover Duplex with Garage

      Five-year-old duplex in Andover, Kansas, with modern amenities.
      1339 N Azena St, Andover, KS 67002
      View Details
    • $380,000

      Andover Land Parcel For Sale

      1.5 acre lot in exclusive Andover golf club community.
      1209 E Bluestem, Andover, KS 67002
      View Details
    • $1,150,000
      9,549 SF

      Free-Standing Building in Andover, Kansas

      9,549 SF building with flexible use potential in Andover.
      736 N Andover Rd, Andover, KS 67002
      View Details
    • $1,150,000
      9,549 SF

      Free-Standing Building in Andover

      9,549 SF building suitable for office, medical, or retail.
      Andover, KS 67002
      View Details
    • $1,250,000
      9,549 SF

      Free-Standing Building in Andover

      9,549 SF building with flexible use potential in Andover, Kansas.
      736 N Andover Rd, Andover, KS 67002
      View Details
    • $1,300,000
      19,200 SF

      RV Storage Facility with Expansion

      RV storage facility near Wichita with expansion potential.
      2919 US-54, Andover, KS 67002
      View Details
    • $14,000

      Residential Land in Andover, Kansas

      Residential land with easy highway access and no HOA.
      730 S Pleasantview Dr, Andover, KS 67002
      View Details
    • Contact for pricing
      292,336 SF

      Andover Warehouse and Office Facility

      292,336 SF warehouse with office space on 18.5 acres.
      415 E 13th St, Andover, KS 67002
      View Details
    • $1,516,300

      Butler County Land for Sale

      118 acres of premier land near Andover, Kansas.
      12550 SW 60th St, Andover, KS
      View Details
    • $1,295,000

      Prime Irrigated Land Near Wichita

      81.2 acre organic-ready land with extensive water infrastructure.
      14601 SW 60th St, Andover, KS
      View Details

    FAQs

    What type of property is this?
    Commercial land - 4-acre commercial land with frontage on 21st and Andover.
    Where is this commercial land located?
    The property is located at NWC 21st and Andover Rd Andover, KS.
    What is the asking price?
    The asking price for this property is $2,613,600.
    What are key features of this property?
    This property features: Large 4‑acre lot; #1 Best Suburb to Buy a House in Wichita Area; **Two street frontages:** 650' on 21st St and 275' on Andover Rd
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    David Leyh
    Real Estate License ID: KS 00038138
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    NWC 21st and Andover Rd, Andover, KS 67002
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!