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Property profile & analytics
OFF-MARKET Estimated value $3,535,000
Hotels

401 Douglas Ave Wichita, KS 67202-3407

89,548 SF 0.48 ac lot Built 1932
Entity Owned 11-yr Hold ~ Est. High Equity
Property ID
US33-0658293
Property summary
AI-generated overview

This exceptional 53,440 square foot restaurant space, located at 401 E Douglas Ave in Wichita, Kansas, presents a unique opportunity. Situated in the heart of the Central Business District (CBD) on a 0.483-acre lot, this single-tenancy property boasts a prime location with stunning rooftop views. Currently configured as a restaurant and bar, the space features a first-generation build-out, complete with a walk-in cooler, walk-in freezer, and a Type 1 hood system. The property benefits from its proximity to the Hilton Garden Inn, a 127-room full-service hotel, ensuring high foot traffic and visibility. A significant tenant improvement allowance is available for qualified tenants, providing flexibility for customization and build-out. Furthermore, the property's location offers unparalleled access to the future $300 million BioMedical Campus, projected to bring 3,000 students and 200 faculty and staff to Downtown Wichita, significantly increasing the potential customer base. This is an exceptional opportunity to establish a thriving business in a rapidly developing area of Wichita, Sedgwick County, Kansas (zip code 67202). The property's zoning designation is CBD.

Property profile
Verified
Property type Hotels
Use group HOTEL
Year built 1932
Total area 89,548 SF
Lot 0.48 ac (20,909 SF)
APN 087-125-21-0-32-02-005.00-D
UPID US33-0658293
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
  • Hilton Garden Inn Wichita Downtown Hotel & Motel
  • The Art Reception Gallery Art Gallery
  • A. Price Woodard Park City Park Tourist Attraction
  • Preferred Mental Health Management Business Management Consultant
  • North Waterwalk Bridge Bridge
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$3.56M
Comparable Approach Comparable
$3.51M
Blend (final) Blend
$3.54M
Owner & transaction history
Seneca Property LLC · 11 yrs held
Seneca Property LLC
since 2015
3 recorded transactions
2021
Price N/A
2016
Price N/A
2015
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center $5.2M +85.6%
Warehouse, storage $4.5M +62.0%
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