Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    822 Broadway St Wichita, KS 67211
    Back to Search
    Property profile & analytics

    822 Broadway St Wichita, KS 67211

    View on Map
    • Retail properties & Spaces
    • 4,088 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Tom's Lotus Garden / Restaurant

    Property Details for 822 Broadway St

    Year built
    1983
    Property size
    4,088 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This exceptional 4,088 square foot restaurant building, located at 822 S Broadway in Wichita, Kansas, presents a compelling investment opportunity for owner-users. Built in 1983, the single-story structure sits on a spacious 19,315 square foot lot and is zoned Limited Commercial (LC), offering versatility for various retail or culinary uses. The property's net rentable area is 4,088 square feet, providing ample space for restaurant operations or adaptable retail concepts. Its prime location in Wichita, Kansas, offers high visibility and significant potential for success. The property's proximity to the new Wichita Biomedical Campus is a key advantage, given the anticipated growth and increased foot traffic in the area. This presents a unique opportunity to capitalize on the influx of professionals and visitors to the campus. The building is currently configured for a restaurant, making it a turnkey operation for a new owner. The property's parcel number is 087-128-28-0-22-04-006.00-A. The asking price is $450,000. This is a for-sale-by-owner listing.

    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
    -97.3355
    Latitude
    37.6765

    Comparable in this City

    • Value Estimation by Request
      4,010 SF

      2131-2149 Broadway St

      Restaurants • 4,010 SF
      2131-2149 Broadway St, Wichita, KS 67211
      View Details
    • Value Estimation by Request
      1,500 SF

      2131-2149 Broadway St

      Restaurants • 1,500 SF
      2131-2149 Broadway St, Wichita, KS 67211
      View Details
    • Value Estimation by Request
      2,280 SF

      2301 Mount Vernon St

      Individual retail properties • 2,280 SF
      2301 Mount Vernon St, Wichita, KS 67211
      View Details
    • Value Estimation by Request
      2,280 SF

      2301 Mount Vernon St

      Restaurants • 2,280 SF
      2301 Mount Vernon St, Wichita, KS 67211
      View Details
    • Value Estimation by Request
      6,555 SF

      125 Hydraulic Ave

      Lifestyle centers • 6,555 SF
      125 Hydraulic Ave, Wichita, KS 67211
      View Details
    • Value Estimation by Request
      4,725 SF

      407 Hydraulic Ave

      Lifestyle centers • 4,725 SF
      407 Hydraulic Ave, Wichita, KS 67211
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      11,850 SF

      Mixed-Use Retail Center For Sale

      Mixed-use retail center with drive-thru in Wichita, Kansas.
      1501-1527 E Pawnee St, Wichita, KS 67211
      View Details
    • $250,000
      2,280 SF

      Wichita Bar - Turnkey Opportunity

      Established bar, fully equipped, great location.
      2301 Mount Vernon St, Wichita, KS 67211
      View Details
    • Contact for pricing
      11,850 SF

      Mixed-Use Retail Center For Sale

      Mixed-use retail center with drive-thru in Wichita, Kansas.
      1501 E Pawnee St, Wichita, KS 67211
      View Details
    • Contact for pricing

      Wichita Retail Investment Portfolio

      NNN leased retail investment portfolio in Wichita, Kansas.
      303 E Pawnee Ave, Wichita, KS 67211
      View Details
    • Contact for pricing
      8,800 SF

      Retail Property with Parking Stalls

      Two buildings with recent improvements and ample parking.
      415 S Hydraulic St, Wichita, KS 67211
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      6,000 SF

      Pawnee Plaza: Retail Space Available

      Prime Retail Space, Pawnee & Broadway
      407 Pawnee St, Wichita, KS 67211
      View Details
    • $1,100 /Mo
      3,920 SF

      Commercial Kitchen Ready For Rent

      Commercial kitchen near downtown Wichita, ready for your business!
      403 S Hydraulic St, Wichita, KS 67211
      View Details
    • $14 SF/Yr

      East Wichita Sublease Opportunity

      Well-located space with flexible terms and ample parking.
      2300 E Lincoln St, Wichita, KS 67211
      View Details
    • $3,000 /Mo

      Flex Building For Lease

      Freestanding flex building suitable for office, warehouse, retail, or showroom.
      1531 S Broadway Ave, Wichita, KS 67211
      View Details
    • $14 SF/Yr

      East Wichita Sublease Opportunity

      Well-located East Wichita space with flexible terms and ample parking.
      2300 E Lincoln St, Wichita, KS 67211
      View Details
    • $3,000 /Mo

      Free Standing Flex Building

      Flex building for lease, suitable for office, warehouse, retail.
      1531 S Broadway Ave, Wichita, KS 67211
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    822 Broadway St
    Wichita, KS 67211
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    822 Broadway St, Wichita, KS, 67211
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!