407 Hydraulic Ave Wichita, KS 67211
- Lifestyle centers
- 4,725 SF
- 0.32 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 407 Hydraulic Ave
- Year built
- 1966
- Lot size
- 0.32 lot acres
- Property size
- 4,725 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This 4,725 sq ft shopping center/storefront in Wichita, KS, presents a compelling investment opportunity. Located on a 0.32-acre lot at 407 S Hydraulic Ave, near E. Kellogg, this single-story, 1966-built property boasts two separate tenant spaces, currently generating $32,400 in annual revenue. One unit (407 S. Hydraulic) has a three-year lease (expiring 8/31/2027) with a structured rent increase schedule, starting at $1,000 per month (Sept-Oct 2024) and escalating to $1,960 by September 2026. The tenant is responsible for all utilities and any tax increases. The second unit (411 S. Hydraulic) is currently leased at $850 per month until 11/30/2024, with a renewal option or month-to-month at $900. This tenant also covers utilities and tax increases. The property features a large paved parking lot (over 20 spaces) and is zoned for limited commercial use. Recent upgrades include new HVAC units (2022-2024), new vinyl plank flooring (2023), a new electric hot water heater (2022), and updated LED lighting (2023). The asking price is $334,900 ($70.88/sq ft), offering a strong return on investment. This property is an excellent addition to any portfolio seeking steady cash flow and appreciation potential.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Wichita
- County
- Sedgwick
- State
- Kansas
- Longitude
- -97.3173
- Latitude
- 37.6807
