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    3642 Oliver St Wichita, KS 67220-3403
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    Property profile & analytics

    3642 Oliver St, Wichita, KS 67220-3403

    View on Map
    • Hotels
    • 70,896 SF
    • 3.34 lot acres
    Off-Market
    Property ID
    US33-1252507
    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
    $3,035,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Aloft Wichita / Hotel & Motel
    • LibertyX Bitcoin ATM / Atm

    Property Details for 3642 Oliver St

    Year built
    2016
    Lot size
    3.34 lot acres
    Property type
    Hotels
    APN
    087-097-36-0-21-01-009.00
    APU
    87097360210100900

    Description

    This exceptional 7-10.45 acre commercial land parcel in Wichita, Kansas, presents a unique investment opportunity within the thriving District 96 development. Located at 3642 N Oliver St, this Limited Industrial zoned property offers 1,200-4,000 square feet of buildable space, currently at 20% occupancy. The site boasts unparalleled visibility and accessibility, situated on a major thoroughfare with over 58,000 vehicles passing daily. Its strategic location offers proximity to significant employment centers, including the Koch Industries Headquarters (over 3,200 employees) and Wichita State University (enrollment exceeding 23,800 students in Fall 2024). The surrounding area is home to a diverse range of established businesses, such as QuikTrip, Aloft Hotel, Great Plains Industries, and many more, ensuring a vibrant and active commercial environment. District 96 is a 100-acre mixed-use development, suitable for retail, office, industrial, or multi-family uses. The owner is open to considering sale, build-to-suit options, or lease arrangements. This prime location is also conveniently near Chisholm Lake Park and Great Plains Nature Center walking trails. The property is part of a development nominated by the Wichita Business Journal for "Development of the Year." This is an ideal opportunity to establish a presence in a rapidly growing and highly desirable area of Wichita.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,055,000
      6.5%
      $2,820,000
      7%
      $2,620,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $3,247,000
      Market price range: $1.42M - $3.25M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $2,220,000
      Current use
      MEDICAL BUILDING
      $4,910,000
      Change: +121% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Wichita
    County
    Sedgwick
    State
    Kansas
    Longitude
    -97.2787
    Latitude
    37.749
    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
    $195,693
    $145,675
    $1,760,500
    $1,906,175
    -
    $582,700
    $7,042,000
    $7,624,700

    Comparable in this City

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      1.30 Acres

      Wichita, KS 67220

      HOTEL/MOTEL
      Wichita, KS 67220
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    • Value Estimation
      $1,250,000
      37,472 SF

      3401 Great Plns Dr

      MOTEL
      3401 Great Plns Dr, Wichita, KS 67220-3406
      View Details
    • Value Estimation by Request
      9.52 Acres

      29 29Th St

      Multifamily properties
      29 29Th St, Wichita, KS 67220
      View Details
    • Value Estimation by Request
      0.20 Acres

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      GARDEN APT, COURT APT (5+ UNITS)
      2323 Woodlawn Blvd, Wichita, KS 67220-3935
      View Details
    • Value Estimation by Request
      0.11 Acres

      Bel Aire, KS 67220

      INDUSTRIAL (GENERAL)
      Bel Aire, KS 67220
      View Details

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      Prime Mixed-Use Development Opportunity

      100-acre mixed-use development site near major employers and amenities.
      K-96 & Oliver, Wichita, KS 67220
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      Development Site at 29th & Woodlawn

      18.4 acre development site ideal for multiple uses.
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      140,263 SF

      N Oliver Avenue Land Opportunity

      Commercial land on well-trafficked arterial, ideal for development.
      3332 N Oliver St, Wichita, KS 67220
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    Similar Nearby for Lease

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      1,492 SF

      Northeast Wichita Office Space

      Office space for lease with great visibility and ample parking.
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      Retail Space in High-Occupancy Center

      Retail space in established center near K96 with high density.
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      4,500 SF

      Retail Space Available For Rent

      4500 SF retail space available for lease.
      N Oliver St, Wichita, KS 67220
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    • $14 SF/Yr

      Wichita Flex/Industrial Space Available

      Flex/industrial space for rent in Wichita, Kansas.
      3727 North Ridgewood St, Wichita, KS 67220
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    • Contact for pricing
      1,250 SF

      Retail Space in High Occupancy Center

      Retail space available in established, high-occupancy Wichita shopping center.
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    • Contact for pricing
      1,400 SF

      Retail Space Available for Rent

      Retail space available for lease in Wichita, Kansas.
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      View Details
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    3642 Oliver St
    Wichita, KS 67220-3403
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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.

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