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Property profile & analytics
OFF-MARKET
Estimated value
$630,000
Retail space
2040 Rock Rd, Wichita, KS 67206-1280
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US33-0740141
Property summary
AI-generated overview
Rock Road Plaza, located at 2040 S Rock Rd, Wichita, KS 67207, offers exceptional office and retail space. This single-story, 14,996 square foot building sits on 1.5 acres and boasts a newly renovated interior (2023), featuring 11-foot ceilings. The property is zoned for office and retail use, allowing for diverse tenant options, including restaurants and medical facilities. Multiple suites are available, with a minimum divisible space of 1,500 square feet and a maximum contiguous space of 1,900 square feet. The building offers ample parking with 200 spaces available. The property benefits from a high-traffic location at the intersection of Rock Road and Pawnee, with over 32,000 vehicles passing daily. Its proximity to McConnell Air Force Base, Beech Aircraft, residential areas, churches, and Southeast High School ensures a strong customer base. The property features 6000 Amps of power. Additional parking in the rear can be enclosed for enhanced security. Annual rent is $18 per square foot, NNN, with rates varying based on suite size, lease length, tenant improvements, and lease terms. This prime location offers easy access to the Derby market. The property is currently undergoing a complete remodel, including a new parking lot and signage, to enhance its appeal and attract high-quality tenants.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2006
Construction
FRAME
Total area
11,592 SF
Lot
1.52 ac (66,211 SF)
APN
087-113-08-0-22-03-005.01
UPID
US33-0740141
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
-
Pottery Barn Furniture & Home Goods Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$655k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$608k
Blend (final)
Blend
$630k
Owner & transaction history
Central 2020 LLC · 3 yrs held
Central 2020 LLC
since 2023
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$975,000
+121.9%
Auto repair, garage
$885,000
+101.8%
Medical building
$750,000
+70.6%
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
RETAIL STORES
$440,000
Current use
APARTMENT HOUSE (5+ UNITS)
$975,000
Change: +122% · Conversion: Difficult
AUTO REPAIR, GARAGE
$885,000
Change: +102% · Conversion: Difficult
MEDICAL BUILDING
$750,000
Change: +71% · Conversion: Difficult
OFFICE BUILDING
$690,000
Change: +57% · Conversion: Easy
Blend value · Realmo final
$630k
Range $567k – $693k · ±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
$54 / 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
$77,397
Tax year 2023
Assessed value
$671,875
Assessed 2024
Previous assessed
$671,875
+0.0% YoY
Effective rate
11.52%
On assessed value
Assessed land
$232,450
Assessed improvement
$439,425
Land market value
$929,800
Improvement market value
$1,757,700
Total market value
$2,687,500
Applied tax rate
6,702.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2006
Construction
FRAME
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Bathrooms
2
Total area
11,592 SF
Lot
1.52 ac (66,211 SF)
APN
087-113-08-0-22-03-005.01
UPID
US33-0740141
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
RETAIL STORES Current
Est. value
$440,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$975,000
AUTO REPAIR, GARAGE
Est. value
$885,000
MEDICAL BUILDING
Est. value
$750,000
OFFICE BUILDING
Est. value
$690,000
RETAIL STORES Current
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
2006
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
2
Lot
1.52 ac
Current owner
From public records · entity-resolved
Central 2020 LLC
Entity
Mailing address
33 BOYLSTON ST #3000, CHESTNUT HILL, MA 02467-1731
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 7, 2024
—
Central 2020 LLC
—
Deed
related
$200,000 · Central National Bank
Mar 29, 2023
—
Central 2020 LLC
Industrial Fund Of Omaha LLC
Warranty Deed
$754,325 · Central National Bank
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.
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