Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    12221 E Central Ave Wichita, KS 67206

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    12221 E Central Ave Wichita, KS 67206

    View on Map
    • Office buildings
    • 11,624 SF
    • 1.60 lot acres
    For Sale
    $750,000
    View Listing →
    Office Space in Wichita, Kansas For Sale
    $750,000
    18,316 SF

    Office Space in Wichita, Kansas

    Office property with 18,316 square feet of space.

    12221 E Central Ave, Wichita, KS
    View Listing
    Property ID
    US33-0614423
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Megan Madsen- Elite Certified Real Estate Agent / Real Estate Agency
    • Plaza Real Estate-Laurie Engle, Realtor Associate Broker / Real Estate Agency
    • Security 1st Title / Title Company / Escrow Service
    • Leslie Wessel, Wessel Team Home Sales at Coldwell Banker Plaza Real Estate / Real Estate Agency
    • Lewis development, Walter E. Lewis, CCIM / Real Estate Agency

    Property Details for 12221 E Central Ave

    Year built
    2000
    Lot size
    1.60 lot acres
    Property size
    11,624 SF
    Property type
    Office buildings
    APN
    087-115-22-0-11-02-006.07
    APU
    87115220110200607

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $680,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $818,000
      Market price range: $516k - $928k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $690,000
      Current use
      RESTAURANT
      $1,120,000
      Change: +62% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $975,000
      Change: +41% Conversion: Easy
      AUTO REPAIR, GARAGE
      $890,000
      Change: +28% Conversion: Difficult
      MEDICAL BUILDING
      $750,000
      Change: +9% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Wichita
    County
    Sedgwick
    State
    Kansas
    Longitude
    -97.1958
    Latitude
    37.6927
    CBSA code
    48620
    CBSA name
    WICHITA, KS METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $100,465
    $78,300
    $325,330
    $403,630
    -
    $313,200
    $1,301,320
    $1,614,520

    Comparable in this City

    • Value Estimation by Request
      0.07 Acres

      Wichita, KS 67206

      OFFICE BUILDING • 0.07 Acres
      Wichita, KS 67206
      View Details
    • Value Estimation by Request
      0.05 Acres

      Wichita, KS 67206

      OFFICE BUILDING • 0.05 Acres
      Wichita, KS 67206
      View Details
    • Value Estimation by Request
      0.15 Acres

      Wichita, KS 67206

      OFFICE BUILDING • 0.15 Acres
      Wichita, KS 67206
      View Details
    • Value Estimation by Request
      5,153 SF

      1700 Waterfront Pkwy Bldg, Unit 300

      OFFICE BUILDING • 5,153 SF
      1700 Waterfront Pkwy Bldg, Wichita, KS 67206-6614
      View Details
    • Value Estimation
      $535,000
      7,575 SF

      2121 Webb Rd

      OFFICE BUILDING • 7,575 SF
      2121 Webb Rd, Wichita, KS 67206-3412
      View Details
    • Value Estimation by Request
      8,085 SF

      7829 Rockhill St, Unit 400

      OFFICE BUILDING • 8,085 SF
      7829 Rockhill St, Wichita, KS 67206-3920
      View Details

    Similar Nearby for Sale

    • $2,800,000

      Class A Office Space

      Prime East Wichita Class A office space for sale.
      9860 E 21St St N, Wichita, KS 67206
      View Details
    • Contact for pricing

      Wichita Office Building For Sale

      Office building available for purchase in Wichita, Kansas.
      12219 E Central Ave, Wichita, KS 67206
      View Details
    • $5,000,000

      Four-Story Office Building For Sale

      90,860 SF four-story office building on 4.55 acres.
      101 S Webb Rd, Wichita, KS 67206
      View Details
    • Contact for pricing

      Wichita Office Building For Sale

      21,560 SF office building with flexible spaces and ample parking.
      260 N Rock Rd, Wichita, KS 67206
      View Details
    • $3,950,000
      2,599 SF

      Prime Office Building For Sale

      Office building with excellent visibility and door-side parking available for sale.
      1861 N Rock Rd, Wichita, KS 67206
      View Details
    • Contact for pricing
      18,316 SF

      Office Space in Wichita, Kansas

      Office property with 18,316 square feet of space.
      12221 E Central Ave, Wichita, KS 67206
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr

      Class A Office Space Available

      Four-story office building with modern amenities and ample parking.
      101 S Webb Rd, Wichita, KS 67206
      View Details
    • $22 SF/Yr

      Four-Story Office Building for Lease

      Four-story office building with atrium and ample parking.
      101 S Webb Rd, Wichita, KS 67206
      View Details
    • Contact for pricing

      New Retail Development with Options

      New construction retail development with drive-thru and rooftop options.
      1097 N Greenwich Rd, Wichita, KS 67206
      View Details
    • Contact for pricing

      Retail/Office Space Available 2025

      Highly visible retail or office space available for lease.
      6425 E Central Ave, Wichita, KS 67206
      View Details
    • Contact for pricing

      Class A Office Space Available

      Premier office space in Webb Road medical corridor.
      9758 E 21St St N, Wichita, KS 67206
      View Details
    View Listing
    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.
    12221 E Central Ave
    Wichita, KS 67206
    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

    12221 E Central Ave, Wichita, KS, 67206

    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!