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Property profile & analytics
FOR LEASE
Strip malls
1520 S Webb Rd Wichita, KS 67207
Entity Owned
~
Est. High Equity
Property ID
US33-0774789
For Lease
1 / 4
$675,000
1520 S Webb Rd, Wichita, KS 67207
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1991
Total area
11,312 SF
Lot
2.24 ac (97,574 SF)
APN
087-118-28-0-33-01-041.03
UPID
US33-0774789
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Dairy Queen Restaurant Take-out & Catering
-
Sell Your Home Wichita Real Estate Agency
-
Gambino's Pizza Take-out & Catering Catering Service
-
In The Bag Cleaners: Harry & Webb (Bike/Boat/Book/etc) Store
-
Asian Bistro Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$655k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$698k
Blend (final)
Blend
$675k
Owner & transaction history
Webb Ventures LLC
Webb Ventures LLC
since 2025
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.0M
+75.6%
Medical building
$785,000
+32.9%
Warehouse, storage
$655,000
+11.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Wichita submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wichita submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$655,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$590,000
Current use
RESTAURANT
$1,035,000
Change: +76% · Conversion: Difficult
MEDICAL BUILDING
$785,000
Change: +33% · Conversion: Difficult
WAREHOUSE, STORAGE
$655,000
Change: +12% · Conversion: Difficult
OFFICE BUILDING
$545,000
Change: -7% · Conversion: Moderate
Blend value · Realmo final
$675k
Range $608k – $743k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$60 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$32,973
Tax year 2023
Assessed value
$286,200
Assessed 2024
Previous assessed
$286,200
+0.0% YoY
Effective rate
11.52%
On assessed value
Assessed land
$122,175
Assessed improvement
$164,025
Land market value
$488,700
Improvement market value
$656,100
Total market value
$1,144,800
Applied tax rate
6,723.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1991
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Bathrooms
2
Total area
11,312 SF
Lot
2.24 ac (97,574 SF)
APN
087-118-28-0-33-01-041.03
UPID
US33-0774789
Jurisdiction
SEDGWICK
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$590,000
RESTAURANT
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$785,000
WAREHOUSE, STORAGE
Est. value
$655,000
OFFICE BUILDING
Est. value
$545,000
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
MEDICAL BUILDING
WAREHOUSE, STORAGE
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1991
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
2
Lot
2.24 ac
Current owner
From public records · entity-resolved
Webb Ventures LLC
Entity
Mailing address
PO BOX 3699, WICHITA, KS 67201-3699
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 18, 2025
—
Webb Ventures LLC
Barbara A Morgan Marital Trust
Warranty Deed
$1,700,000 · Southwest National Bank
Mar 16, 2023
—
Barbara A Morgan Marital Trust
Homer Morgan Revocable Trust
Intrafamily Transfer
related
—
Aug 16, 2007
—
Homer Morgan
Homer Morgan
Intrafamily Transfer
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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