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    53Rd St Wichita, KS 67204

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    53Rd St Wichita, KS 67204

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    • Land
    • 2.24 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 53Rd St

    Lot size
    2.24 lot acres
    Property type
    Land

    Description

    This exceptional 2.24-acre commercial land parcel presents a remarkable investment opportunity in Wichita, Kansas. Located at the southwest corner of Meridian and 53rd Street North, this property boasts unparalleled visibility and accessibility. The site is zoned LC & GO, allowing for a variety of commercial uses. Its strategic location offers significant advantages, situated in a rapidly expanding area with numerous nearby residential developments, ensuring a strong customer base. The property benefits from adjacency to established businesses including Taco Bell, Dollar Tree, Braum's, an urgent care facility, and more, creating a vibrant commercial environment. A key feature is its direct frontage across from Walmart's main entrance, with plans for a signalized intersection further enhancing visibility and accessibility. This prime location offers exceptional potential for developers and investors seeking high-impact commercial development in a thriving Wichita market. The 67204 zip code ensures easy access to major transportation routes and amenities. This is a rare opportunity to acquire a significant commercial land parcel in a high-growth area with excellent visibility and established neighboring businesses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Wichita
    County
    Sedgwick
    State
    Kansas
    Longitude
    -97.3756
    Latitude
    37.7815

    Comparable in this City

    • Value Estimation by Request
      12.00 Acres

      51st And Meridian

      Land • 12.00 Acres
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    • Value Estimation by Request
      8.06 Acres

      53rd And Meridian

      Land • 8.06 Acres
      53rd And Meridian, Wichita, KS 67204
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    • Value Estimation by Request
      0.71 Acres

      Meridian Ave And Keywest St

      Land • 0.71 Acres
      0 Meridian Ave And Keywest St, Wichita, KS 67204
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    • Value Estimation by Request

      53rd And Meridian Wichita Ks

      Land
      53rd And Meridian Wichita Ks, Wichita, KS 67204
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    • Value Estimation by Request
      3.62 Acres

      37th West St

      Land • 3.62 Acres
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      11.07 Acres

      42nd St And Cobblestone St

      Land • 11.07 Acres
      42nd St And Cobblestone St, Wichita, KS 67204
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    Similar Nearby for Sale

    • Contact for pricing

      Land for Sale or Build

      2-12 acres available for sale or build to suit.
      51st And Meridian, Wichita, KS 67204
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    • $172,000
      0.93 Acres

      Wichita Land For Sale

      High-visibility land with highway access, near downtown Wichita.
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      66,541 SF

      Industrial Land Near Highway K-96

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      Prime Commercial Land For Sale

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      32Nd St, Wichita, KS 67204
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      Commercial Land on Meridian Avenue

      1.88 acre commercial land with access to K-96.
      5246 N Meridian Ave, Wichita, KS 67204
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      Productive Farmland with Development Potential

      115.1± acres of farmland near Haysville, Kansas.
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    Similar Nearby for Lease

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      900 SF

      Retail Space at High-Traffic Intersection

      Retail space available at a high-traffic Wichita intersection.
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    • Contact for pricing

      Retail Space Available For Rent

      End cap retail suite available with potential tenant improvements.
      638 W 33Rd St N, Wichita, KS 67204
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      1,500 SF

      Office Space Near 21st Street

      Lease opportunity: office space near 21st St North and Amidon.
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      2,519 SF

      Wichita Office and Industrial Space

      2,519 SF office and industrial space for lease.
      3357 N Amidon Ave, Wichita, KS 67204
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    Wichita, KS 67204
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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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    53Rd St, Wichita, KS, 67204

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