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Property profile & analytics
OFF-MARKET
Estimated value
$555,000
Office Spaces
2952 Arkansas Ave Wichita, KS 67204-5140
Entity Owned
9-yr Hold
Free & Clear
Property ID
US33-0282644
Property summary
AI-generated overview
This single-tenant industrial property, located at 2952 N. Arkansas Ave., Wichita, KS 67204 (cross streets: 29th & Arkansas), offers a unique blend of warehouse and office space. The 0.57-acre lot houses a single-story, 16,643 square foot building constructed in 1990 and renovated in 2017. The property is zoned for General Commercial use within Sedgwick County and features a Class C building rating. The space is divided into two sections: a west building comprising approximately 3,000 square feet of warehouse space and 1,887 square feet of office space with 10' clear ceiling height and two 10'x9' overhead doors
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1940
Construction
FRAME
Total area
4,887 SF
Lot
0.57 ac (24,829 SF)
APN
087-123-05-0-12-02-043.00
UPID
US33-0282644
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
-
Etezazi Corporations Law Firm
-
ICT RAGE ROOM LLC Theater & Performing Art Venue Music Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$335k
CAP Approach
CAP
$770k
Comparable Approach
Comparable
$563k
Blend (final)
Blend
$555k
Owner & transaction history
Me Enterprises II LLC · 9 yrs held
Me Enterprises II LLC
since 2016
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$765,000
+105.7%
Office building
$405,000
+8.9%
Auto repair, garage
$375,000
+0.4%
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
$335,000
CAP Approach
CAP Return
Estimation
6%
$835,000
6.5%
$770,000
7%
$715,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$370,000
Current use
RETAIL STORES
$765,000
Change: +106% · Conversion: Easy
OFFICE BUILDING
$405,000
Change: +9% · Conversion: Easy
AUTO REPAIR, GARAGE
$375,000
Change: +0% · Conversion: Difficult
MEDICAL BUILDING
$340,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$555k
Range $500k – $611k · ±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
$114 / 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
$18,702
Tax year 2023
Assessed value
$187,225
Assessed 2024
Previous assessed
$162,275
+15.4% YoY
Effective rate
9.99%
On assessed value
Assessed land
$12,400
Assessed improvement
$174,825
Land market value
$49,600
Improvement market value
$699,300
Total market value
$748,900
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 Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1940
Construction
FRAME
Heating
SPACE
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Bathrooms
2
Total area
4,887 SF
Lot
0.57 ac (24,829 SF)
APN
087-123-05-0-12-02-043.00
UPID
US33-0282644
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
COMMERCIAL (GENERAL) Current
Est. value
$370,000
RETAIL STORES
Est. value
$765,000
OFFICE BUILDING
Est. value
$405,000
AUTO REPAIR, GARAGE
Est. value
$375,000
MEDICAL BUILDING
Est. value
$340,000
COMMERCIAL (GENERAL) Current
RETAIL STORES
OFFICE BUILDING
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
1940
Construction
FRAME
Heating
SPACE
Cooling
Yes
Stories
1
Buildings
2
Bathrooms
2
Lot
0.57 ac
Current owner
From public records · entity-resolved
Me Enterprises II LLC
Entity
Free & Clear · 9 yrs held
Mailing address
2101 E 21ST ST N, WICHITA, KS 67214-1942
Ownership since
2016
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
Oct 7, 2016
—
Me Enterprises II LLC
Masoud Etezazi
Special Warranty Deed
—
May 24, 2012
—
Melidi Assadollahof
John D Murphy
Joint Tenancy Deed
related
—
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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