Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3030 N Penstemon St Wichita, KS 67226
    Back to Search
    Property profile & analytics

    3030 N Penstemon St Wichita, KS 67226

    View on Map
    • Turn key restaurants
    • 4,748 SF
    • 1.35 lot acres
    For Sale
    $1,090,000
    View Listing →
    Versatile Commercial Building in Wichita For Sale
    $1,090,000

    Versatile Commercial Building in Wichita

    Adaptable commercial space suitable for various business ventures.

    3030 N Penstemon St, Wichita, KS 67226
    View Listing
    Property ID
    US33-0790383
    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

    • MIYA IZAKAYA / Bar & Pub

    Property Details for 3030 N Penstemon St

    Year built
    1997
    Construction
    FRAME
    Lot size
    1.35 lot acres
    Property size
    4,748 SF
    Property type
    Turn key restaurants
    APN
    087-109-32-0-34-01-013.00
    APU
    87109320340101300

    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
    -97.2392
    Latitude
    37.7389
    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
    $15,494
    $58,800
    $88,725
    $147,525
    -
    $235,200
    $354,900
    $590,100

    Comparable in this City

    • Value Estimation
      $505,000
      9,067 SF

      2244 Webb Rd

      RESTAURANT • 9,067 SF
      2244 Webb Rd, Wichita, KS 67226-8102
      View Details
    • Value Estimation by Request
      6,458 SF

      3409 Rock Rd

      RESTAURANT • 6,458 SF
      3409 Rock Rd, Wichita, KS 67226-1318
      View Details
    • Value Estimation by Request
      6,016 SF

      2636 Greenwich Ct

      RESTAURANT • 6,016 SF
      2636 Greenwich Ct, Wichita, KS 67226-8226
      View Details
    • Value Estimation
      $540,000
      6,008 SF

      2333 Greenwich Rd

      RESTAURANT • 6,008 SF
      2333 Greenwich Rd, Wichita, KS 67226-8203
      View Details
    • Value Estimation by Request
      5,140 SF

      3505 Rock Rd

      RESTAURANT • 5,140 SF
      3505 Rock Rd, Wichita, KS 67226-1320
      View Details
    • Value Estimation by Request
      4,788 SF

      3111 Rock Rd

      RESTAURANT • 4,788 SF
      3111 Rock Rd, Wichita, KS 67226-1312
      View Details

    Similar Nearby for Sale

    • $1,065,000

      Freestanding Building K-96 Visibility

      6,648 SF building with high visibility and access.
      3213 N Toben St, Wichita, KS 67226
      View Details
    • $1,090,000

      Versatile Commercial Property in Wichita

      Adaptable commercial space suitable for various uses in Northeast Wichita.
      3030 N Penstemon St, Wichita, KS 67226
      View Details
    • $1,065,000

      Freestanding Building on High-Traffic Area

      6,648 SF freestanding building with excellent visibility and access.
      3213 N Toben St, Wichita, KS 67226
      View Details
    • $1,090,000

      Versatile Commercial Building in Wichita

      Adaptable commercial space suitable for various business ventures.
      3030 N Penstemon St, Wichita, KS 67226
      View Details
    • $2,100,000

      Prime Commercial Center For Sale

      High-visibility commercial center in established trade area near Highway K-96.
      8343 E 32Nd St N, Wichita, KS 67226
      View Details
    • Contact for pricing
      18,740 SF

      East Wichita Retail Opportunity

      Retail location near K-96 and high-traffic commercial corridors.
      8343 E 32Nd St N, Wichita, KS 67226
      View Details

    Similar Nearby for Lease

    • 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
    • Contact for pricing
      9,050 SF

      Retail Space in Northrock Center

      Retail space available in established Wichita shopping destination.
      3411 N Rock Rd, Wichita, KS 67226
      View Details
    • $12 SF/Yr

      Retail Space on Rock Road

      10,216 SF retail space available in move-in ready condition.
      3035 N Rock Rd, Wichita, KS 67226
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3030 N Penstemon St
    Wichita, KS 67226
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3030 N Penstemon St, Wichita, KS, 67226
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!