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

    1809 Hoover Rd Wichita, KS 67209-2858

    • Office buildings
    • 8,281 SF
    • 0.96 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US33-0621386
    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.

    Current Use by Public Records

    • Phast Parts Enterprise LLC / Transportation Service
    • Luma III, Inc / Manufacturer / Auto Body Shop

    Property Details for 1809 Hoover Rd

    Year built
    1986
    Construction
    FRAME
    Lot size
    0.96 lot acres
    Property size
    8,281 SF
    Property type
    Office buildings
    APN
    087-138-34-0-11-01-005.00-B
    APU
    087138340110100500B

    Description

    This exceptional 1,423-square-foot commercial space is immediately available for lease at 1809 S Hoover Rd, Suite 101, Wichita, KS. Located directly adjacent to the ICT Airport and major thoroughfares (235 and Kellogg Highway), this property offers unparalleled accessibility and visibility. The space features a prominent marquee for enhanced signage, ensuring maximum exposure. Its versatile layout is suitable for various businesses, from retail to professional services. The lease is a modified gross lease at a competitive rate of $12 per square foot. This prime location provides exceptional convenience for clients and customers, making it an ideal opportunity for businesses seeking high visibility and easy access to transportation hubs. The property is part of a multi-tenant building. This is a rare opportunity to secure a well-positioned commercial space in a high-demand area. The space is ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Wichita
    County
    Sedgwick
    State
    Kansas
    Longitude
    -97.4079
    Latitude
    37.6606
    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
    $8,672
    $15,675
    $63,300
    $78,975
    -
    $62,700
    $253,200
    $315,900

    Comparable in this City

    • Value Estimation by Request
      1,516 SF

      6041 Kellogg Dr

      OFFICE BUILDING • 1,516 SF
      6041 Kellogg Dr, Wichita, KS 67209-2335
      View Details
    • Value Estimation by Request
      1,036 SF

      1631 Hoover Ct

      OFFICE BUILDING • 1,036 SF
      1631 Hoover Ct, Wichita, KS 67209-2870
      View Details
    • Value Estimation by Request
      5,896 SF

      2140 Airport Rd

      OFFICE BUILDING • 5,896 SF
      2140 Airport Rd, Wichita, KS 67209-1940
      View Details
    • Value Estimation by Request
      2,604 SF

      625 Anna St

      OFFICE BUILDING • 2,604 SF
      625 Anna St, Wichita, KS 67209-2536
      View Details
    • Value Estimation
      $515,000
      5,216 SF

      1831 Anna St

      OFFICE BUILDING • 5,216 SF
      1831 Anna St, Wichita, KS 67209-2801
      View Details
    • Value Estimation by Request
      3,624 SF

      10701 Kellogg St

      OFFICE BUILDING • 3,624 SF
      10701 Kellogg St, Wichita, KS 67209-1221
      View Details

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      Prime Pad Site on Kellogg

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      157,000 SF

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    Similar Nearby for Lease

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      10616 W Maple St, Wichita, KS 67209
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      West Wichita Commercial Space Available

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      1,600 SF

      Retail Space For Lease

      Retail spaces available from 1,600 to 5,600 SF.
      6610-6840 W Kellogg Dr, Wichita, KS 67209
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    • $12 SF/Yr
      4,350 SF

      Freestanding Retail/Showroom/Flex Building

      High-visibility retail/showroom/flex space for lease on Kellogg Drive.
      8404 E Kellogg Dr, Wichita, KS 67209
      View Details
    • Contact for pricing
      14 SF

      Commercial Land For Lease

      13.39 acre commercial development site with high visibility.
      NW/c Kellogg & Tyler Rd, Wichita, KS 67209
      View Details
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    1809 Hoover Rd
    Wichita, KS 67209-2858
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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.

    More about this property
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