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    The Largest CRE Database in the US with Over 1 Million Listings

    1634 Mead St Wichita, KS 67211

    Sponsored
    For Sale
    $708,625

    28,345 SF Warehouse, $708,625

    Property size:
    28,345 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    415
    This exceptional industrial property, located at 1634 S Mead St in Wichita, Kansas, presents a significant investment opportunity. The single-building warehouse boasts a substantial 28,345 square feet of space, ideal for a variety of industrial uses. The property sits on a 1.39-acre lot, providing ample room for operations and potential expansion. The warehouse features impressive ceiling heights ranging from 12 to 15 feet, offering flexibility for storage and equipment. Adding to its functionality is a 2,232 square foot office area, providing dedicated space for administrative tasks. Further enhancing the property's utility is a 0.5-acre fenced and paved outside storage area, perfect for additional inventory or equipment. The warehouse benefits from updated electrical systems and a fully sprinklered fire suppression system, ensuring both efficiency and safety. The asking price for this turnkey industrial space is $708,625, translating to $25 per square foot. Alternatively, a modified lease is available at a rate of $3.00 per square foot, based on an industrial gross lease structure. This property is situated in Sedgwick County, Kansas, with the zip code 67211. The property's location offers convenient access to major transportation routes, making it an attractive option for businesses needing efficient logistics. This is a rare opportunity to acquire a well-maintained, spacious warehouse in a desirable location.

    Property Features for 1634 Mead St

    General Information

    Property type
    Distribution properties
    Square Feet
    28,345 SF
    Lot Size
    60,548 SF

    Building Details

    Buildings
    1

    We can help!

    Listing Contact
    Grant Glasgow
    Grant Glasgow

    Learn more

    Property Insight Report

    HighLights

    • 28,345 SF warehouse with 2,232 SF of office space.
    • 1.39‑acre lot with 0.5‑acre fenced, paved outside storage area.
    • 12' to 15' ceiling heights.
    • Updated electrical and fully sprinklered fire suppression system.
    • $708,625 sale price ($25/SF) or $3.00/SF industrial gross lease available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dependable Pallet Manufacturer

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Wholesale Shop Hair Salon Auto Repair Shop Clothing Store Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Wichita
    County
    Sedgwick
    State
    Kansas
    Longitude
    -97.3286103
    Latitude
    37.6633469

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    FAQs

    What type of property is this?
    Distribution property - 28,345 SF Warehouse, $708,625
    Where is this distribution property located?
    The property is located at 1634 Mead St Wichita, KS.
    What is the asking price?
    The asking price for this property is $708,625.
    What are key features of this property?
    This property features: 28,345 SF warehouse with 2,232 SF of office space.; 1.39-acre lot with 0.5-acre fenced, paved outside storage area.; 12' to 15' ceiling heights.
    Request Owner's contact information
    1634 Mead St Wichita, KS 67211
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    Wichita, KS 67211
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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.

    More about this property
    1634 Mead St Wichita, KS 67211
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    We can help!
    Listing Contact
    Grant Glasgow
    Grant Glasgow
    Real Estate License ID: KS SP00220353
    Learn more
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