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    1940 Oliver St Wichita, KS 67218

    Sponsored
    For Lease
    $24,000

    Former pool hall, large space, high visibility.

    Lot size:
    22,400 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 22,400 square foot retail property, located at 1940 S Oliver in Wichita, Kansas, presents a unique investment opportunity. Built in 1969, this single-story building sits on a sizable 1.62-acre lot, offering ample space for redevelopment or expansion. Currently, 16,000 square feet are vacant, providing significant potential for a variety of commercial uses. The property's zoning is Limited Commercial, allowing for a range of businesses. The building's history as a former pool hall provides a recognizable landmark in the area, enhancing its visibility and potential for attracting customers. Located near the cross street of Mt Vernon in Sedgwick County, this property benefits from convenient access and high traffic flow. The large lot size offers significant flexibility for future development, parking, or outdoor amenities. This is an ideal opportunity for an entrepreneur looking to establish a new business or for an investor seeking a high-return property with significant upside. The property's size and location make it a prime candidate for a variety of commercial ventures. The existing structure provides a solid foundation for renovation or repurposing, offering considerable cost savings compared to new construction. The 67218 zip code ensures access to a thriving local market. This property is ready for its next chapter.

    Property Features for 1940 Oliver St

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    22,400 SF
    Total Rate
    24000

    Building Details

    Year Built
    1969
    Buildings
    1
    Stories
    1

    Unit(s) available at that property

    Space
    Available Space
    Size
    22,400 SF
    Rate per SF
    $24,000

    HighLights

    • 22,400 SF retail building on a 1.62‑acre lot in Wichita, KS.
    • 16,000 SF vacant space available for lease or redevelopment.
    • Features a partial kitchen with wash sinks, refrigerator, and prep table.
    • Includes a dock‑high door and an outside double door.
    • Ample parking resurfaced in 2019.
    Property Profile Location Intelligence

    Current Use by Public Records

    Coin Machine Distributors Vending Machine Supplier

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Wichita
    County
    Sedgwick
    State
    Kansas
    Longitude
    -97.2798277
    Latitude
    37.6579205

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    FAQs

    What type of property is this?
    Retail property - Former pool hall, large space, high visibility.
    Where is this retail property located?
    The property is located at 1940 Oliver St Wichita, KS.
    What is the lease rate?
    The lease rate is $24,000.
    What are key features of this property?
    This property features: 22,400 SF retail building on a 1.62-acre lot in Wichita, KS.; 16,000 SF vacant space available for lease or redevelopment.; Features a partial kitchen with wash sinks, refrigerator, and prep table.
    Request Owner's contact information
    1940 Oliver St Wichita, KS 67218
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    Wichita, KS 67218
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    Realmo Value Estimation

    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.

    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.

    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
    1940 Oliver St Wichita, KS 67218
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