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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3158 Hoover Rd Wichita, KS 67215

    • Warehouses
    • 53,904 SF
    • 0.89 lot acres
    For Lease
    View listing
    Last Sale
    Aug 30, 2022
    Value Estimations
    $650,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US33-0879779
    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.

    Current Use by Public Records

    • Warehouses

    Property Details for 3158 Hoover Rd

    Year built
    1970
    Lot size
    0.89 lot acres
    Property size
    53,904 SF
    Property type
    Warehouses
    APN
    087-201-02-0-32-02-014.00-D
    APU
    087201020320201400D

    Description

    This exceptional 53,904-square-foot industrial property in Wichita, Kansas, presents a compelling investment opportunity. Located at 3158 S Hoover Rd, Sedgwick County, zip code 67215, this flex/warehouse space offers a versatile layout ideal for a variety of businesses. The property boasts a substantial 2-acre storage yard, providing ample outdoor space for equipment or materials. Inside, the building features multiple overhead doors for convenient loading and unloading, along with a powerful overhead crane to facilitate efficient material handling. The electrical system includes multiple 3-phase panels, ensuring sufficient power for demanding operations. A significant portion of the space is dedicated to heated warehouse space, providing a climate-controlled environment for sensitive goods or year-round operations. In addition, there is a substantial 6,702-square-foot enclosed office space, offering comfortable and functional administrative areas. The asking price is $1,800,000, translating to a price per square foot of $33.39. 2023 property taxes totaled $22,307.75. This property's combination of indoor and outdoor space, along with its robust infrastructure, makes it an attractive option for businesses seeking a well-equipped and strategically located industrial facility in the Wichita market. The property's latitude and longitude coordinates are 37.6368946, -97.4065262 respectively.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $560,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $739,000
      Market price range: $558k - $3.61M

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

    Location Insight

    • Map
    • Local Demand
    City
    Wichita
    County
    Sedgwick
    State
    Kansas
    Longitude
    -97.4066
    Latitude
    37.6372
    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
    $17,858
    $9,725
    $154,450
    $164,175
    -
    $38,900
    $617,800
    $656,700

    Comparable in this City

    • Value Estimation by Request
      2,688 SF

      5300 Hoover Rd

      WAREHOUSE, STORAGE • 2,688 SF
      5300 Hoover Rd, Wichita, KS 67215
      View Details
    • Value Estimation
      $1,075,000
      103,600 SF

      5755 Hoover Rd, Unit 7

      WAREHOUSE, STORAGE • 103,600 SF
      5755 Hoover Rd, Wichita, KS 67215-9300
      View Details
    • Value Estimation by Request
      4,500 SF

      3220 Hoover Rd

      WAREHOUSE, STORAGE • 4,500 SF
      3220 Hoover Rd, Wichita, KS 67215-1217
      View Details
    • Value Estimation by Request
      960 SF

      Wichita, KS 67215

      WAREHOUSE, STORAGE • 960 SF
      Wichita, KS 67215
      View Details
    • Value Estimation
      $755,000
      75,320 SF

      5755 Hoover Rd, Unit 2

      WAREHOUSE, STORAGE • 75,320 SF
      5755 Hoover Rd, Wichita, KS 67215-9300
      View Details
    • Value Estimation by Request
      10,800 SF

      4428 29th S Cir

      WAREHOUSE, STORAGE • 10,800 SF
      4428 29th S Cir, Wichita, KS 67215
      View Details

    Similar Nearby for Sale

    • $2,350,000
      46,827 SF

      Wichita Warehouse Near Spirit Aerosystems

      Warehouse in Wichita's southeast quadrant, near major arterials.
      4611 E 31St St S, Wichita, KS 67215
      View Details
    • $1,250,000
      8,044 SF

      Wichita Flex Space Investment Opportunity

      8,044 SF Flex Space - 100% Occupied
      3815 Midco St, Wichita, KS 67215
      View Details
    • $1,250,000
      8,044 SF

      Wichita Office/Flex Space Available

      Office/Flex space for sale or lease in Southwest Wichita.
      3815 S Midco St, Wichita, KS 67215
      View Details
    • $2,873,000
      52.70 Acres

      Wichita Industrial Land - 52.7 Acres

      Prime Industrial Land, Rail Access, Wichita, KS
      4401 Broad St, Wichita, KS 67215
      View Details
    • $1,250,000
      8,044 SF

      Wichita Office/Flex Space Available

      Office/Flex space for sale or lease in Southwest Wichita.
      Wichita, KS 67215
      View Details
    • Contact for pricing
      726,932 SF

      Available Land Near K-96 Freeway

      Land available in high-growth area with low special taxes.
      Hoover Ct, Wichita, KS 67215
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      60,000 SF

      Wichita Industrial Warehouse Space

      60,000 SF Warehouse, Flexible Divisible Units
      2930 Hoover Rd, Wichita, KS 67215
      View Details
    • Contact for pricing
      53,904 SF

      Industrial Property For Sale/Lease

      Distribution properties • 53,904 SF
      3158 Hoover Rd, Wichita, KS 67215
      View Details
    • $12 SF/Yr
      6,500 SF

      Hoover Court Flex/Industrial Space

      Flex/industrial space in Hoover industrial park with high-end finishes.
      4010 N Hoover Ct, Wichita, KS 67215
      View Details
    • Contact for pricing
      4,600 SF

      Modern Industrial Loft with Balcony

      New 4,600 SF industrial loft with A/C and balcony.
      4078 Hoover Ct, Wichita, KS 67215
      View Details
    • Contact for pricing
      60,000 SF

      New Construction Warehouse Space Available

      New construction warehouse with excellent access and customizable office space.
      2930 S Hoover Rd, Wichita, KS 67215
      View Details
    • $25 SF/Yr
      22,350 SF

      Retail Space Near New Apartments

      Retail space with drive-thru near high-traffic intersection.
      3931 N Ridge Rd, Wichita, KS 67215
      View Details
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    Wichita, KS 67215
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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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