Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    501-523 Douglas Ave Wichita, KS 67202
    Property profile & analytics

    501-523 Douglas Ave, Wichita, KS 67202

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

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 501-523 Douglas Ave

    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    Eaton Place, located at 501-523 E Douglas Ave in Wichita, Kansas, presents a unique opportunity for businesses seeking versatile office space in a vibrant downtown location. This Class B property offers a range of options, with spaces divisible down to 794 square feet and contiguous space available up to 9,589 square feet. The building's flexible layout caters to multiple tenants, making it ideal for businesses of various sizes. The property is classified as Retail, Office, and Live/Work space, offering diverse usage possibilities. Situated in the heart of Downtown Wichita's River Center/Arena neighborhood, Eaton Place benefits from its proximity to Intrust Bank Arena and Naftzger Park, ensuring high foot traffic and visibility. This bustling area attracts a diverse clientele, creating a dynamic and energetic atmosphere. The property's Sedgwick County location provides easy access to the city's primary downtown district, offering convenient access to amenities and transportation. The zip code is 67202. This is an excellent opportunity to establish a presence in a thriving and well-connected urban setting. The building's traditional office subtype provides a classic and functional workspace.

    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
    -97.3317
    Latitude
    37.6861

    Comparable in this City

    • Value Estimation by Request
      10,961 SF

      114 St

      Individual retail properties
      114 St, Wichita, KS 67202
      View Details
    • Value Estimation by Request
      2,754 SF

      431 Waco Ave

      Day care centers
      431 Waco Ave, Wichita, KS 67202
      View Details
    • Value Estimation by Request

      338 Mead St

      Individual retail properties
      338 Mead St, Wichita, KS 67202
      View Details
    • Value Estimation by Request
      7,164 SF

      400 Commerce St

      Office Units
      400 Commerce St, Wichita, KS 67202
      View Details
    • Value Estimation by Request
      31,866 SF

      110 2Nd St

      Office Units
      110 2Nd St, Wichita, KS 67202
      View Details
    • Value Estimation by Request
      5,675 SF

      114 St

      Office Units
      114 St, Wichita, KS 67202
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      20,990 SF

      Downtown Wichita Mixed-Use Opportunity

      Versatile space in a prime, high-visibility downtown location.
      614-622 S Commerce St, Wichita, KS 67202
      View Details
    • Contact for pricing

      Downtown Wichita Versatile Commercial Property

      Prime location suitable for retail, office, or live/work use.
      501-523 E Douglas Ave, Wichita, KS 67202
      View Details
    • Contact for pricing
      114,770 SF

      Downtown Wichita Mixed-Use Opportunity

      10-story, 114,770 SF building suitable for office, mixed-use, or residential.
      110 S Main St, Wichita, KS 67202
      View Details
    • Contact for pricing
      4,940 SF

      Broadway Storefront in Historic Orpheum

      First-floor storefront space in the historic Orpheum for sale.
      200 North Broadway Ave, Wichita, KS 67202
      View Details
    • Contact for pricing

      Historic Mixed-Use Eaton Place

      Mixed-use property in downtown Wichita near entertainment and biomedical campus.
      517 East Douglas Ave, Wichita, KS 67202
      View Details
    • Contact for pricing
      1,024 SF

      Versatile Commercial Space Available

      Adaptable commercial space suitable for various business needs.
      200 N Broadway St, Wichita, KS 67202
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Downtown Wichita Retail/Restaurant Space

      Retail/Restaurant space for ground lease in Downtown Wichita.
      436 S Topeka St, Wichita, KS 67202
      View Details
    • Contact for pricing

      Downtown Wichita Mixed-Use Opportunity

      Mixed-use property in downtown Wichita with retail and restaurant opportunities.
      645 E Douglas Ave, Wichita, KS 67202
      View Details
    • Contact for pricing
      1,914 SF

      Downtown Storefront with Renovation Underway

      Downtown storefront with historic features and renovation underway.
      415 E Douglas Ave, Wichita, KS 67202
      View Details
    • Contact for pricing
      4,159 SF

      Modern Commerce Street Office/Retail Space

      Renovated office or retail space near downtown Wichita.
      418 S Commerce St, Wichita, KS 67202
      View Details
    • Contact for pricing
      2,858 SF

      Downtown Retail/Office/Showroom Space

      Prime downtown location suitable for retail, office, or showroom.
      520 S Commerce St, Wichita, KS 67202
      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.
    501-523 Douglas Ave
    Wichita, KS 67202
    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
    501-523 Douglas Ave, Wichita, KS, 67202
    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!