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Property profile & analytics
OFF-MARKET
Estimated value
$1,070,000
Strip malls
302 Rock Rd, Wichita, KS 67206-2280
Entity Owned
2-yr Hold
Free & Clear
Property ID
US33-0556583
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1970
Construction
FRAME
Total area
28,993 SF
Lot
1.23 ac (53,579 SF)
APN
087-114-20-0-22-02-012.00
UPID
US33-0556583
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
-
Plaid Giraffe (Bike/Boat/Book/etc) Store
-
Eric Fisher Salon Hair Salon
-
Asset Management Financial Advisor
-
Original Bread, Inc. Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.04M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.10M
Blend (final)
Blend
$1.07M
Owner & transaction history
Coulter Properties LLC · 2 yrs held
Coulter Properties LLC
since 2024
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.7M
+26.6%
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
$1,035,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,360,000
Current use
OFFICE BUILDING
$1,725,000
Change: +27% · Conversion: Moderate
Blend value · Realmo final
$1.07M
Range $963k – $1.18M · ±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
$37 / 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
$66,797
Tax year 2023
Assessed value
$623,350
Assessed 2024
Previous assessed
$579,850
+7.5% YoY
Effective rate
10.72%
On assessed value
Assessed land
$60,075
Assessed improvement
$563,275
Land market value
$240,300
Improvement market value
$2,253,100
Total market value
$2,493,400
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1970
Construction
FRAME
Heating
YES
Cooling
AC.PACKAGE
Stories
2
Bathrooms
2
Total area
28,993 SF
Lot
1.23 ac (53,579 SF)
APN
087-114-20-0-22-02-012.00
UPID
US33-0556583
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
$1.4M
OFFICE BUILDING
Est. value
$1.7M
NEIGHBORHOOD: SHOPPING CENTER Current
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
1970
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
2
Bathrooms
2
Lot
1.23 ac
Current owner
From public records · entity-resolved
Coulter Properties LLC
Entity
Free & Clear · 2 yrs held
Mailing address
PO BOX 12248, WICHITA, KS 67277-2248
Ownership since
2024
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
May 8, 2024
—
Coulter Properties LLC
Kimberly L Coulter
Deed
—
Apr 30, 2021
—
New E B Properties LLC
Paul A Brackeen
Warranty Deed
$550,000 · American State Bank & Trust Co Will
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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