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Property profile & analytics
OFF-MARKET
Estimated value
$505,000
Strip malls
2404 Maize Rd Wichita, KS 67205-7310
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US33-0528326
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2006
Construction
FRAME
Total area
6,434 SF
Lot
0.68 ac (29,621 SF)
APN
087-133-05-0-32-05-003.00
UPID
US33-0528326
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
-
AT&T Store Mobile Phone Store Electronics & Wireless Store
-
Wasabi Sushi Bar | West Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$550k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$454k
Blend (final)
Blend
$505k
Owner & transaction history
Feng Properties LLC · 4 yrs held
Feng Properties LLC
since 2022
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$785,000
+113.2%
Restaurant
$750,000
+103.7%
Apartment house (5+ units)
$540,000
+46.5%
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
$550,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$370,000
Current use
WAREHOUSE, STORAGE
$785,000
Change: +113% · Conversion: Difficult
RESTAURANT
$750,000
Change: +104% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$540,000
Change: +47% · Conversion: Difficult
AUTO REPAIR, GARAGE
$490,000
Change: +33% · Conversion: Difficult
MEDICAL BUILDING
$445,000
Change: +21% · Conversion: Difficult
OFFICE BUILDING
$395,000
Change: +8% · Conversion: Moderate
Blend value · Realmo final
$505k
Range $455k – $556k · ±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
$78 / 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
$50,749
Tax year 2023
Assessed value
$441,825
Assessed 2024
Previous assessed
$408,050
+8.3% YoY
Effective rate
11.49%
On assessed value
Assessed land
$88,400
Assessed improvement
$353,425
Land market value
$353,600
Improvement market value
$1,413,700
Total market value
$1,767,300
Applied tax rate
6,720.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2006
Construction
FRAME
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Bathrooms
2
Total area
6,434 SF
Lot
0.68 ac (29,621 SF)
APN
087-133-05-0-32-05-003.00
UPID
US33-0528326
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$370,000
WAREHOUSE, STORAGE
Est. value
$785,000
RESTAURANT
Est. value
$750,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$540,000
AUTO REPAIR, GARAGE
Est. value
$490,000
MEDICAL BUILDING
Est. value
$445,000
OFFICE BUILDING
Est. value
$395,000
NEIGHBORHOOD: SHOPPING CENTER Current
WAREHOUSE, STORAGE
RESTAURANT
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
0.68 ac
Current owner
From public records · entity-resolved
Feng Properties LLC
Entity
Mailing address
466 NW ST, WICHITA, KS 67203-1207
Ownership since
2022
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 31, 2022
—
Feng Properties LLC
Marcu Properties LLC
Special Warranty Deed
$1,856,000 · Heartland Cu
Nov 23, 2011
—
Marcus Properties LLC
Chadsworth Pointe 3 LLC
Special Warranty Deed
$1,225,000 · Legacy 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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