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Property profile & analytics
FOR LEASE
Strip malls
306 N Rock Rd Wichita, KS 67206
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US33-0320718
For Lease
1 / 2
$680,000
306 N Rock Rd, Wichita, KS 67206
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1985
Construction
FRAME
Total area
13,902 SF
Lot
1.69 ac (73,616 SF)
APN
087-114-20-0-22-02-011.00
UPID
US33-0320718
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
-
Kairos Counseling LLC - Brandi M Loudermilk LCMFT Marriage Or Relationship Counselor
-
Spectacle Shoppe, Inc (Bike/Boat/Book/etc) Store
-
Fuzzy's Taco Shop Restaurant
-
Therapy Corner, LLC Crisis Center Medical Clinic
-
Samantha Lewis Marriage Or Relationship Counselor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$745k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$615k
Blend (final)
Blend
$680k
Owner & transaction history
366 Rock LLC · 5 yrs held
366 Rock LLC
since 2021
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.1M
+62.6%
Medical building
$900,000
+37.4%
Office building
$825,000
+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
$745,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$655,000
Current use
AUTO REPAIR, GARAGE
$1,060,000
Change: +63% · Conversion: Difficult
MEDICAL BUILDING
$900,000
Change: +37% · Conversion: Difficult
OFFICE BUILDING
$825,000
Change: +27% · Conversion: Moderate
Blend value · Realmo final
$680k
Range $612k – $748k · ±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
$49 / 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
$62,619
Tax year 2023
Assessed value
$543,575
Assessed 2024
Previous assessed
$543,575
+0.0% YoY
Effective rate
11.52%
On assessed value
Assessed land
$110,300
Assessed improvement
$433,275
Land market value
$441,200
Improvement market value
$1,733,100
Total market value
$2,174,300
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
For Lease
Year built
1985
Construction
FRAME
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Bathrooms
2
Total area
13,902 SF
Lot
1.69 ac (73,616 SF)
APN
087-114-20-0-22-02-011.00
UPID
US33-0320718
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
$655,000
AUTO REPAIR, GARAGE
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$900,000
OFFICE BUILDING
Est. value
$825,000
NEIGHBORHOOD: SHOPPING CENTER Current
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
1985
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
2
Lot
1.69 ac
Current owner
From public records · entity-resolved
366 Rock LLC
Entity
Mailing address
8918 W 21ST ST N STE #200, WICHITA, KS 67205-1880
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 20, 2021
—
366 Rock LLC
Equisset LLC
Warranty Deed
$2,292,000 · Exchange Bank
Apr 24, 2019
—
Equisset LLC
Bric Rock LLC
Warranty Deed
$2,267,000 · Chisholm Trail State Bank
Aug 3, 2009
—
Bric Rock LLC
SR Properties LLC
Warranty Deed
$1,550,000 · 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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