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

    2240 Tyler Rd Ste, Unit 100 Wichita, KS 67205-8758

    • Strip malls
    • 15,566 SF
    • 1.68 lot acres
    OFF-MARKET
    Value Estimations
    $835,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US33-0207522
    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

    • Strip malls

    Property Details for 2240 Tyler Rd Ste

    Year built
    2000
    Lot size
    1.68 lot acres
    Property size
    15,566 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    087-132-04-0-33-01-002.02
    APU
    87132040330100202

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $835,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $835,000
      Market price range: $686k - $1.10M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $890,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $1,310,000
      Change: +47% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,190,000
      Change: +33% Conversion: Difficult
      MEDICAL BUILDING
      $1,080,000
      Change: +21% Conversion: Difficult
      OFFICE BUILDING
      $960,000
      Change: +8% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Wichita
    County
    Sedgwick
    State
    Kansas
    Longitude
    -97.4438
    Latitude
    37.7243
    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
    $75,690
    $182,575
    $426,050
    $608,625
    -
    $730,300
    $1,704,200
    $2,434,500

    Comparable in this City

    • Value Estimation
      $785,000
      18,439 SF

      7447 21st St N Ste, Unit 101

      SHOPPING CENTER, STRIP CENTER • 18,439 SF
      7447 21st St N Ste, Wichita, KS 67205-1769
      View Details
    • Value Estimation
      $720,000
      10,195 SF

      2241 Maize Rd Ste, Unit 101

      SHOPPING CENTER, STRIP CENTER • 10,195 SF
      2241 Maize Rd Ste, Wichita, KS 67205-7340
      View Details
    • Value Estimation
      $1,135,000
      21,806 SF

      2835 Maize Rd, Unit C

      SHOPPING CENTER, STRIP CENTER • 21,806 SF
      2835 Maize Rd, Wichita, KS 67205-7395
      View Details
    • Value Estimation by Request
      1.44 Acres

      3080 Maize Rd

      SHOPPING CENTER, STRIP CENTER • 1.44 Acres
      3080 Maize Rd, Wichita, KS 67205-7406
      View Details
    • Value Estimation
      $500,000
      6,880 SF

      2768 Maize Rd

      SHOPPING CENTER, STRIP CENTER • 6,880 SF
      2768 Maize Rd, Wichita, KS 67205-7328
      View Details
    • Value Estimation
      $645,000
      9,920 SF

      2755 Maize Rd

      SHOPPING CENTER, STRIP CENTER • 9,920 SF
      2755 Maize Rd, Wichita, KS 67205-7326
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,500 SF

      Retail Spaces in High-Traffic Area

      Two retail spaces available in a high-traffic Wichita location.
      2233 N Ridge Rd, Wichita, KS 67205
      View Details
    • Contact for pricing
      1,128 SF

      Sandlot Condos: West Wichita

      Premium Garage Condos, Sold Out
      0 119Th St, Maize, KS 67205
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    • $690,000
      3,508 SF

      Wichita Retail/Office Building For Sale

      Architecturally striking building near 37th & Rock Road.
      7817 E 37Th St N, Wichita, KS 67205
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    • Contact for pricing
      7,500 SF

      Retail Space in High-Traffic Area

      Retail spaces available in a high-traffic Wichita location.
      Wichita, KS 67205
      View Details
    • $2,637,037

      New Retail Property For Sale

      New retail property with two drive-through lanes and strong tenants.
      10209 W 29Th St N, Wichita, KS 67205
      View Details
    • $650,000

      West Wichita Commercial Land

      Prime 35,000 SF commercial lot.
      8541 21St St, Wichita, KS 67205
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,400 SF

      Retail Space Near New Market

      Retail space suitable for retail, restaurant, and medical users.
      10240 West 29Th St N, Wichita, KS 67205
      View Details
    • $25 SF/Yr
      22,350 SF

      Shops at Avante II Retail Space

      High-traffic retail space near 96 highway.
      0 37Th St, Wichita, KS 67205
      View Details
    • Contact for pricing
      10,500 SF

      Wichita Retail Space - Maize Road

      Prime Retail Space, New Construction, High Visibility
      3080 Maize Rd, Wichita, KS 67205
      View Details
    • Contact for pricing
      9,793 SF

      Wichita Retail Strip Center

      Prime Wichita retail space, ample parking.
      8778 29Th St, Wichita, KS 67205
      View Details
    • $18 SF/Yr
      3,800 SF

      Wichita Retail Space Sublease Opportunity

      High-traffic retail space available in Wichita, KS.
      2441 Maize Rd, Wichita, KS 67205
      View Details
    • $16 SF/Yr
      1,600 SF

      Wichita Office Space: 21st & Tyler

      1600 sq ft Office/Retail Space, Ample Parking
      2243 Tyler Rd, Wichita, KS 67205
      View Details
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    Wichita, KS 67205-8758
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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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