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    Multiple Properties Bel Aire, KS 67226
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    Multiple Properties, Bel Aire, KS 67226

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    • Residential income homes
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential income homes

    Property Details for 0 Multiple Properties

    Year built
    2024
    Property type
    Residential income homes

    Description

    This exceptional investment opportunity presents a portfolio of 40 brand-new duplexes, totaling 80 units, situated in the desirable Bel Aire, Kansas, community. Completed in early Spring 2024, these Class A properties boast a prime location within Sedgwick County, offering easy access to Koch Industries and other major employers. Each duplex features three bedrooms and two bathrooms, spanning 1265 square feet per side. The units are designed to command rental rates exceeding $1500 per side, promising strong cash flow. The development benefits from its location in a highly-rated school district, further enhancing its appeal to tenants. Construction is phased, with approximately 10 units closing and ready for occupancy per month, beginning in early Spring 2024. This staggered delivery schedule allows for a smooth and efficient onboarding process for property management. The properties are individually addressed within Bel Aire, Kansas, zip code 67226. This portfolio represents a rare opportunity to acquire a substantial, high-quality multifamily asset in a thriving market. Detailed financial information is available upon request. The properties are single-family rentals, offering a unique blend of multifamily scale with the appeal of individual homes. This presents a compelling investment opportunity for those seeking a stable and high-yielding portfolio in a prime Kansas location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Bel Aire
    County
    Sedgwick
    State
    Kansas
    Longitude
    -97.2487
    Latitude
    37.7783

    Comparable in this City

    • Value Estimation
      $2,800,000
      33,355 SF

      7824 32nd N St

      BOARDING/ROOMING HOUSE
      7824 32nd N St, Wichita, KS 67226-1245
      View Details
    • Value Estimation
      $945,000
      11,240 SF

      3820 Toben St

      BOARDING/ROOMING HOUSE
      3820 Toben St, Wichita, KS 67226-2903
      View Details
    • Value Estimation
      $1,030,000
      12,254 SF

      6908 32nd N St

      GARDEN APT, COURT APT (5+ UNITS)
      6908 32nd N St, Wichita, KS 67226-1214
      View Details
    • Value Estimation
      $1,735,000
      14,704 SF

      7610 32nd N St, Unit 101

      GARDEN APT, COURT APT (5+ UNITS)
      7610 32nd N St, Wichita, KS 67226-1280
      View Details
    • Value Estimation by Request
      2,599 SF

      7627 37th N St, Unit 1001

      GARDEN APT, COURT APT (5+ UNITS)
      7627 37th N St, Wichita, KS 67226-2803
      View Details
    • Value Estimation
      $6,165,000
      52,195 SF

      8510 29th N St, Unit 1101

      GARDEN APT, COURT APT (5+ UNITS)
      8510 29th N St, Wichita, KS 67226-2121
      View Details

    Similar Nearby for Sale

    • $389,500
      2,773 SF

      Income-Producing Bel Aire Duplex

      Fully leased duplex with strong income and upside potential.
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      View Details
    • $505,000
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      New Bel Aire Twin Home

      New twin home in Bel Aire with finished basement.
      8729-8731 East Summerside Pl, Wichita, KS 67226
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    • New
      $365,000
      Pending

      Bel Aire Duplex Investment Opportunity

      2022 Bel Aire duplex with modern finishes and income potential.
      5200/5202 Honey Locust Cir, Bel Aire, KS 67226
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    • Contact for pricing

      Wichita Warehouse/Office on 12.49 Acres

      200,000 SF warehouse/office space suitable for warehousing, distribution, manufacturing.
      8908 East 34Th St North, Wichita, KS 67226
      View Details
    • $3,600,000

      Two-Story Office Building For Sale

      Two-story office building in Northeast Wichita's commercial corridor.
      2778 N Webb Rd, Wichita, KS 67226
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      15,000 SF

      Northrock Business Park Suite #1401

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    • Contact for pricing

      8440 E 29th St, Wichita, KS

      Retail space
      8440 E 29Th St, Wichita, KS 67226
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    • $2,450 /Mo

      Move-in Ready Office Suite Available

      Efficient office suite with workstations, private offices, and parking.
      11021 East 26Th St North, Wichita, KS 67226
      View Details
    • $2,450 /Mo

      Move-in Ready Office Suite

      Efficient office suite with workstations, private offices, and parking.
      11021 East 26Th St North, Wichita, KS 67226
      View Details
    • Contact for pricing

      Class A Office Building

      Two-story office building with abundant parking and recent improvements.
      8110 E 32Nd St N, Wichita, KS 67226
      View Details
    • Contact for pricing
      5,000 SF

      Retail Space in Greenwich Place

      Retail space available within a large retail and entertainment destination.
      2684-2762 N Greenwich Ct, Wichita, KS 67226
      View Details
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    Bel Aire, KS 67226
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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.

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