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    11333 Kellogg Dr Wichita, KS 67207

    Sponsored
    For Lease
    $18 SF/Yr

    High-traffic Wichita retail center; spaces available

    Lot size:
    34,470 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    414
    One Kellogg Place Shopping Center presents a prime retail opportunity in East Wichita. This thriving 34,470 square foot regional retail center boasts a highly desirable location at the main entrance of a major development, ensuring exceptional visibility and accessibility. The property sits on 3.07 acres of land in Sedgwick County, benefiting from its strategic placement at the intersection of Kellogg (Highways 400 and 54) and Greenwich Road, a high-traffic corridor with 45,753 vehicles passing daily. The center is anchored by a strong lineup of national retailers including Walmart, Lowe's, PetSmart, Bob Mills Furniture, Ashley Furniture, Starbucks, McDonald's, Burger King, and IHOP, creating a robust and attractive environment for potential tenants. Currently, there are nine suites in total, with 6,900 square feet of vacant space available. Individual spaces range from a minimum of 1,400 square feet to a maximum contiguous space of 4,500 square feet, offering flexibility for various business needs. Existing tenants include Petland, Dollar Tree, Cottonwood Dental, H&R Block, Sports Clips, Ivy Nails, and Vapor 100, further demonstrating the center's appeal and established tenant base. This is an exceptional opportunity to establish or expand your business within a well-established and high-traffic retail environment. Further details are available in a digital brochure.

    Property Features for 11333 Kellogg Dr

    General Information

    Property type
    Shopping malls
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    34,470 SF
    Total Rate
    51705

    Unit(s) available at that property

    Space
    Available Space 1 - Suite 100
    Size
    4,500 SF
    Rate per SF
    $18
    Space
    Available Space 2 - Suite 202
    Size
    1,000 SF
    Rate per SF
    $18

    We can help!

    Listing Contact
    Rob Pestinger
    Rob Pestinger

    Learn more

    Property Insight Report

    HighLights

    • Retail property totaling 34,470 square feet.
    • Multiple tenancy with nine suites.
    • 6,900 square feet of vacant space available, with units ranging from 1,400 to 4,500 square feet.
    • Located in Sedgwick County, Kansas, on a 3.07‑acre site.
    • High‑traffic location at the main entrance of a major shopping center anchored by national retailers including Walmart, Lowe's, and PetSmart, with 45,753 vehicles per day passing by.
    Property Profile Location Intelligence

    Current Use by Public Records

    Cricket Wireless Authorized ... Cell Phone Store Dollar Tree Grocery Store CoinFlip Bitcoin ATM Atm Cottonwood Dental Dentist Ivy Nails & Spa ... Nail Salon

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Dental Office 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
    -97.206503333984
    Latitude
    37.676966514539

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    FAQs

    What type of property is this?
    Shopping mall - High-traffic Wichita retail center; spaces available
    Where is this shopping mall located?
    The property is located at 11333 Kellogg Dr Wichita, KS.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: Retail property totaling 34,470 square feet.; Multiple tenancy with nine suites.; 6,900 square feet of vacant space available, with units ranging from 1,400 to 4,500 square feet.
    Request Owner's contact information
    11333 Kellogg Dr Wichita, KS 67207
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    Wichita, KS 67207
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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
    11333 Kellogg Dr Wichita, KS 67207
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    We can help!
    Listing Contact
    Rob Pestinger
    Rob Pestinger
    Real Estate License ID: KS 00046223
    Learn more
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