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    2976 Greenwich Rd Wichita, KS 67226

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    2976 Greenwich Rd Wichita, KS 67226

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    • Commercial real estate
    Off-Market
    Property ID
    US33-1623877
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Topgolf Wichita / Restaurant

    Property Details for 2976 Greenwich Rd

    Property type
    Commercial real estate

    Description

    This exceptional mixed-use development in Wichita, Kansas, offers hard corner retail and restaurant pad sites available for lease. Strategically located at 2976 N Greenwich Rd, 67226, this property benefits from its position in a rapidly expanding area of Sedgwick County. The site enjoys convenient access to Highway K-96, ensuring easy accessibility for customers and employees from across the region. Its prime location near popular attractions like the Stryker Sports Complex and Top Golf provides significant foot traffic and visibility, creating a highly desirable environment for businesses. The proximity to Jabara Airport further enhances its appeal. The property is zoned for Limited Commercial use and is suitable for multiple tenants. This presents a unique opportunity for businesses seeking high-visibility locations in a thriving community. The site's potential for significant return on investment is undeniable, making it an attractive proposition for discerning investors and entrepreneurs looking to establish a presence in one of Wichita's most dynamic areas. The property is classified as Retail, Land, and Restaurant, offering flexibility for a variety of commercial ventures.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Wichita
    County
    Sedgwick
    State
    Kansas
    Longitude
    -97.2078335
    Latitude
    37.7376892

    Comparable in this City

    • Contact for pricing

      8440 E 29th St, Wichita, KS

      Retail space
      8440 E 29Th St, Wichita, KS 67226
      View Details
    • Contact for pricing
      26,270 SF

      Retail Building in High-Traffic Area

      26,270 SF retail building on 3.11-acre lot for lease.
      3615 N Rock Rd, Wichita, KS 67226
      View Details
    • Contact for pricing
      3,500 SF

      Retail Space at Siena Plaza

      Class A retail space with ample parking available for rent.
      7718-7730 E 37Th St N, Wichita, KS 67226
      View Details
    • $12 SF/Yr

      Retail Space on Rock Road

      10,216 SF retail space available for lease.
      3035 N Rock Rd, Wichita, KS 67226
      View Details

    Similar Nearby for Sale

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      Freestanding Building K-96 Visibility

      6,648 SF building with high visibility and access.
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      Adaptable commercial space suitable for various business ventures.
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      Freestanding Building on High-Traffic Area

      6,648 SF freestanding building with excellent visibility and access.
      3213 N Toben St, Wichita, KS 67226
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      Prime Commercial Center For Sale

      High-visibility commercial center in established trade area near Highway K-96.
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      Commercial Land with Excellent Connectivity

      Commercial land with strong demographics and excellent connectivity.
      N Greenwich Rd, Wichita, KS 67226
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    Similar Nearby for Lease

    • Contact for pricing

      8440 E 29th St, Wichita, KS

      Retail space
      8440 E 29Th St, Wichita, KS 67226
      View Details
    • Contact for pricing
      26,270 SF

      Retail Building in High-Traffic Area

      26,270 SF retail building on 3.11-acre lot for lease.
      3615 N Rock Rd, Wichita, KS 67226
      View Details
    • Contact for pricing
      3,500 SF

      Retail Space at Siena Plaza

      Class A retail space with ample parking available for rent.
      7718-7730 E 37Th St N, Wichita, KS 67226
      View Details
    • $12 SF/Yr

      Retail Space on Rock Road

      10,216 SF retail space available for lease.
      3035 N Rock Rd, Wichita, KS 67226
      View Details
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    2976 Greenwich Rd
    Wichita, KS 67226
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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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    2976 Greenwich Rd, Wichita, KS, 67226

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