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

    3815 Midco St Wichita, KS 67215

    • Office buildings
    • 8,044 SF
    • 1.01 lot acres
    For Sale
    View listing
    $1,250,000
    Last Sale
    Dec 15, 2020
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US33-0247142
    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

    • PROtect LLC / Environmental Consultant

    Property Details for 3815 Midco St

    Year built
    1998
    Construction
    FRAME
    Lot size
    1.01 lot acres
    Property size
    8,044 SF
    Property type
    Office buildings
    APN
    087-203-08-0-34-01-001.01
    APU
    87203080340100101

    Description

    This exceptional 8,044-square-foot single-tenant flex building presents a unique opportunity in Sedgwick County. The property boasts a full stone exterior and enjoys convenient access to major thoroughfares, including K-42/Southwest Blvd. and I-235, ensuring seamless transportation and logistics. The building's layout is highly functional, offering a generous 5,756 square feet of recently updated office space, ideal for modern business operations. In addition, there is 2,288 square feet of shop/lab space, providing ample room for various industrial or specialized uses. The entire building is currently vacant, presenting a blank canvas for a new tenant to customize to their specific needs. The property is zoned for Limited Industrial use, opening up a range of possibilities for businesses seeking a blend of office and industrial functionality. The single-story structure simplifies operations and offers easy accessibility throughout. This is an exceptional opportunity to secure a well-maintained, strategically located flex space in a thriving area. The combination of updated office space, dedicated shop/lab area, and convenient location makes this property an attractive investment for a variety of businesses. The entire 8,044 square feet is available for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $855,000
      Market price range: $363k - $1.06M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $665,000
      Current use
      RESTAURANT
      $860,000
      Change: +29% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $675,000
      Change: +1% Conversion: Easy
      AUTO REPAIR, GARAGE
      $615,000
      Change: -8% Conversion: Difficult
      RETAIL STORES
      $585,000
      Change: -12% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Wichita
    County
    Sedgwick
    State
    Kansas
    Longitude
    -97.4578
    Latitude
    37.6242
    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
    $22,639
    $10,950
    $195,175
    $206,125
    -
    $43,800
    $780,700
    $824,500

    Comparable in this City

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      8,562 SF

      3550 Hoover Rd

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      3550 Hoover Rd, Wichita, KS 67215-1213
      View Details
    • Value Estimation by Request
      6,000 SF

      5755 Hoover Rd, Unit 10

      OFFICE BUILDING • 6,000 SF
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    • Value Estimation by Request
      2,480 SF

      11130 Wsw Blvd

      OFFICE BUILDING • 2,480 SF
      11130 Wsw Blvd, Wichita, KS 67215-8700
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    • Value Estimation by Request
      5,396 SF

      2625 Tyler Rd

      OFFICE BUILDING • 5,396 SF
      2625 Tyler Rd, Wichita, KS 67215-8621
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    • Value Estimation by Request
      1,280 SF

      5550 55th S St

      OFFICE BUILDING • 1,280 SF
      5550 55th S St, Wichita, KS 67215-9353
      View Details
    • Value Estimation
      $5,090,000
      42,266 SF

      2625 Hoover Rd

      OFFICE BUILDING • 42,266 SF
      2625 Hoover Rd, Wichita, KS 67215-1200
      View Details

    Similar Nearby for Sale

    • $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
    • $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
    • $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
    • $33,000
      Pending

      Wichita, KS Multi-Family Lots

      Multi-family lots in Wichita, KS with restrictive covenants.
      Blk C Bridger Pawnee Add, Wichita, KS 67215
      View Details
    • $561,000
      Pending

      Wichita Multi-Family Land Opportunity

      Multi-family lots available in Wichita, Kansas.
      Blk B Bridger Pawnee Add, Wichita, KS 67215
      View Details

    Similar Nearby for Lease

    • 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
    • $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
    • Contact for pricing
      1,348 SF

      Retail Space on Maize Road

      Retail space with frontage on Maize Road near New Market Square.
      3080 N Maize 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
    • Contact for pricing

      Land for Lease Opportunity

      Land available for lease with excellent visibility and easy access.
      3406 S Hoover Rd, 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.
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      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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