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

    2240 Rock Rd Wichita, KS 67226-2300

    • Strip malls
    • 10,144 SF
    • 0.57 lot acres
    OFF-MARKET
    Value Estimations
    $570,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US33-0480141
    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

    • Boba Zone II / Bubble Tea Store
    • Great Wall Restaurant / Chinese Restaurant / Asian Restaurant
    • Cox Store / Internet Service Provider / Cable Company
    • Competition Cartage Auto Hauling / Trucking Company
    • Chinese Foot Massage / Massage Spa / Massage Therapist

    Property Details for 2240 Rock Rd

    Year built
    1988
    Lot size
    0.57 lot acres
    Property size
    10,144 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    087-113-05-0-33-02-007.00
    APU
    87113050330200700

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $640,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $499,000
      Market price range: $370k - $652k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $525,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $850,000
      Change: +63% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $775,000
      Change: +48% Conversion: Difficult
      OFFICE BUILDING
      $500,000
      Change: -5% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Wichita
    County
    Sedgwick
    State
    Kansas
    Longitude
    -97.2421
    Latitude
    37.724
    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
    $45,154
    $46,775
    $361,875
    $408,650
    -
    $187,100
    $1,447,500
    $1,634,600

    Comparable in this City

    • Value Estimation by Request
      10,680 SF

      11124 28th N St

      SHOPPING CENTER, STRIP CENTER • 10,680 SF
      11124 28th N St, Wichita, KS 67226-4562
      View Details
    • Value Estimation
      $575,000
      12,912 SF

      6505 37th St N Ste, Unit 100

      SHOPPING CENTER, STRIP CENTER • 12,912 SF
      6505 37th St N Ste, Wichita, KS 67226-3233
      View Details
    • Value Estimation
      $850,000
      20,465 SF

      2949 Rock Rd Ste, Unit 100

      SHOPPING CENTER, STRIP CENTER • 20,465 SF
      2949 Rock Rd Ste, Wichita, KS 67226-2279
      View Details
    • Value Estimation
      $600,000
      9,294 SF

      3000 Rock Rd

      SHOPPING CENTER, STRIP CENTER • 9,294 SF
      3000 Rock Rd, Wichita, KS 67226-1378
      View Details
    • Value Estimation by Request
      7,614 SF

      3300 Rock Rd

      SHOPPING CENTER, STRIP CENTER • 7,614 SF
      3300 Rock Rd, Wichita, KS 67226-1374
      View Details
    • Value Estimation
      $760,000
      13,013 SF

      2431 Greenwich Rd

      SHOPPING CENTER, STRIP CENTER • 13,013 SF
      2431 Greenwich Rd, Wichita, KS 67226-8223
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      14,524 SF

      Wichita Shopping Center Investment

      Class A retail/office center; high-growth area.
      8440 29Th St, Wichita, KS 67226
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    • Contact for pricing
      7,596 SF

      8440 East 29th St North, Wichita, KS

      Retail space • 7,596 SF
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      1,328 SF

      Greenlight Garagedominiums, Wichita

      Luxury Self-Storage Condos, Wichita, KS
      9401 35Th St, Wichita, KS 67226
      View Details
    • $21,183,000
      40,000 SF

      Topgolf Wichita: NNN Investment

      High-return Topgolf NNN lease, Kansas.
      2976 Greenwich Rd, Wichita, KS 67226
      View Details
    • Contact for pricing
      26,270 SF

      High-Traffic Retail Building For Sale

      26,270 SF building in a prime retail corridor.
      3665 N Rock Rd, Wichita, KS 67226
      View Details
    • $1,165,000
      6,648 SF

      Freestanding Building K-96 Visibility

      6,648 SF building with high visibility and access.
      3213 N Toben St, Wichita, KS 67226
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      10,216 SF

      Retail Space on Rock Road

      10,216 SF retail space available in move-in ready condition.
      3035 N Rock Rd, Wichita, KS 67226
      View Details
    • $24 SF/Yr
      10,000 SF

      Greenwich Rd Retail Center

      Wichita, KS: Prime Retail Space Available
      2556 Greenwich Rd, Wichita, KS 67226
      View Details
    • $13 SF/Yr
      9,050 SF

      Retail Space in Northrock Center

      Retail space available in established Wichita shopping destination.
      3411 N Rock Rd, Wichita, KS 67226
      View Details
    • $16 SF/Yr
      56,611 SF

      Comotara Center: Retail Space

      High-traffic retail center; multiple units available.
      2929 Rock Rd, Wichita, KS 67226
      View Details
    • $14 SF/Yr
      14,524 SF

      East 29th Retail Center Space

      Wichita, KS retail & office suites.
      8440 29Th St, Wichita, KS 67226
      View Details
    • Contact for pricing
      4,500 SF

      Retail Space in Regency Lakes

      Highly visible end cap in a dynamic retail development.
      2413 N Greenwich Rd, Wichita, KS 67226
      View Details
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    Wichita, KS 67226-2300
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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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