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    12330 21St St Wichita, KS 67206

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    12330 21St St Wichita, KS 67206

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    • Medical Office Space
    • 9,901 SF
    Off-Market
    Property ID
    US33-1624322
    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

    • Eye Connect Vision Therapy / Eye Care Center
    • The Eye Gallery - Eye Doctor Wichita / (Bike/Boat/Book/etc) Store
    • Megan Nichole Baldwin / Physician

    Property Details for 12330 21St St

    Year built
    2021
    Property size
    9,901 SF
    Property type
    Medical Office Space

    Description

    This exceptional Class A medical/office/retail building, completed in 2021, offers 9,901 square feet of space in a single-story structure situated on a 46,757 square foot lot. The property boasts two suites, with 2,509 square feet currently vacant, providing an excellent opportunity for expansion or new tenancy. Located at 12330 E 21st St N, Wichita, KS 67206, this property benefits from its convenient location near the intersection of E 21st St N and Founders, offering easy access to K-96 and other major thoroughfares including Kellogg/US-54, the Kansas Turnpike, and K-254. The building is zoned for Limited Commercial use within Sedgwick County's Wichita submarket. The property is currently in a cold shell state and features ample parking. A strong co-tenant, The Eye Gallery, is already established in the building. The surrounding area includes a variety of businesses and amenities, such as Trinity Academy, Lola's Bistro, Ziggy's Pizza, Trimmell & Anders Orthodontics, Neurology Consultants of Kansas, and Dold Family Dentistry. This property presents a unique opportunity for businesses seeking a modern, well-located space in a thriving Wichita community. The building has no elevators.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Wichita
    County
    Sedgwick
    State
    Kansas
    Longitude
    -97.1961344
    Latitude
    37.7230924

    Comparable in this City

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      Class A Office Space Available

      Premier office space in Webb Road medical corridor.
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      Class A Office Space Available

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      Retail and Office Space Available

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    Similar Nearby for Lease

    • $26 SF/Yr
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      Crestpoint Office Suites, Wichita, KS

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      View Details
    • Contact for pricing
      3,357 SF

      Class A Office Space Available

      Premier office space in medical corridor with rooftop terrace.
      9758 E 21St St N, Wichita, KS 67206
      View Details
    • $22 SF/Yr

      Class A Office/Medical Development

      Class A office/medical space for lease, sale, or build-to-suit.
      Wichita, KS 67206
      View Details
    • Contact for pricing

      Class A Office Space Available

      Premier office space in Webb Road medical corridor.
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      View Details
    • $20 SF/Yr
      4,353 SF

      Class A Office/Medical Space

      Class A office/medical space for lease near amenities.
      12111 E 21St St N, Wichita, KS 67206
      View Details
    • $18 SF/Yr
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      Central Avenue Retail/Office Space

      Adaptable retail or office space available in early 2025.
      6425 E Central Ave, Wichita, KS 67206
      View Details
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    Wichita, KS 67206
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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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    12330 21St St, Wichita, KS, 67206

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