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Property profile & analytics
OFF-MARKET
Estimated value
$535,000
Office buildings
2121 Webb Rd Wichita, KS 67206-3412
Entity Owned
~
Est. High Equity
Property ID
US33-0649686
Property summary
AI-generated overview
This exceptional Class A office building, totaling 7,575 square feet, is situated on a 1.38-acre lot in a premier northeast Wichita office park. Built in 2003 and extensively renovated in 2017, the single-story building offers 6,347 square feet of immediately available space in a single tenancy configuration. The property boasts updated finishes throughout and enjoys a highly desirable location near the intersection of 21st and Webb Road, providing convenient access to Highway K-96 and a wealth of nearby shopping and dining establishments. Enjoy picturesque lake views from the covered outdoor patio. Ample parking is available with 87 spaces. The building is zoned LC and is located in Sedgwick County. Building signage opportunities are also available. The lease rate is $25.00 per square foot, NNN. The total site size is 60,317 square feet (approximately 1.38 acres). This property is ideal for businesses seeking a modern, well-maintained office space in a vibrant and convenient location.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2003
Construction
FRAME
Total area
7,575 SF
Lot
1.38 ac (60,113 SF)
APN
087-113-08-0-11-03-001.00
UPID
US33-0649686
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
-
WaterWalk Apartments Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$465k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$605k
Blend (final)
Blend
$535k
Owner & transaction history
15 Ventures LLC
15 Ventures LLC
since 2025
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$730,000
+61.9%
Apartment house (5+ units)
$635,000
+41.2%
Auto repair, garage
$580,000
+28.4%
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
$465,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$450,000
Current use
RESTAURANT
$730,000
Change: +62% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$635,000
Change: +41% · Conversion: Easy
AUTO REPAIR, GARAGE
$580,000
Change: +28% · Conversion: Difficult
MEDICAL BUILDING
$490,000
Change: +9% · Conversion: Easy
Blend value · Realmo final
$535k
Range $482k – $589k · ±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
$71 / 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
$38,715
Tax year 2023
Assessed value
$357,725
Assessed 2024
Previous assessed
$336,050
+6.4% YoY
Effective rate
10.82%
On assessed value
Assessed land
$75,400
Assessed improvement
$282,325
Land market value
$301,600
Improvement market value
$1,129,300
Total market value
$1,430,900
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2003
Construction
FRAME
Heating
YES
Cooling
YES
Stories
1
Bathrooms
2
Total area
7,575 SF
Lot
1.38 ac (60,113 SF)
APN
087-113-08-0-11-03-001.00
UPID
US33-0649686
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
OFFICE BUILDING Current
Est. value
$450,000
RESTAURANT
Est. value
$730,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$635,000
AUTO REPAIR, GARAGE
Est. value
$580,000
MEDICAL BUILDING
Est. value
$490,000
OFFICE BUILDING Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
MEDICAL 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
2003
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
2
Lot
1.38 ac
Current owner
From public records · entity-resolved
15 Ventures LLC
Entity
Mailing address
2121 N WEBB RD, WICHITA, KS 67206-3412
Mailing matches property
Yes
Owner-occupied
Yes
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 15, 2025
—
15 Ventures LLC
2121 Office LLC
Warranty Deed
$1,375,000 · Fidelity Bank NA
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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