Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    4040 Meridian Ave Wichita, KS 67217-3738

    • Outlet malls
    • 8,400 SF
    • 1.26 lot acres
    OFF-MARKET
    Value Estimations
    $1,395,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US33-1576324
    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

    • Family Dollar / Dollar Store / Beer Store

    Property Details for 4040 Meridian Ave

    Year built
    2017
    Lot size
    1.26 lot acres
    Property size
    8,400 SF
    Property type
    Outlet malls
    APN
    087-214-18-0-22-02-001.01
    APU
    87214180220200101

    Description

    This 8,400-square-foot freestanding retail building is located at 4040 S. Meridian Ave in Wichita, Kansas, within Sedgwick County (zip code 67217). Built in 2017, the single-story structure sits on a 1.26-acre lot and offers 26 parking spaces. The property is zoned LC and benefits from excellent visibility due to its freestanding design and pylon signage. Its convenient location provides easy access to I-235, ensuring high traffic flow and customer accessibility. The building is currently available for sublease and represents a unique opportunity for a business seeking a well-located, spacious retail space. Previously occupied by a Family Dollar, this second-generation space is ready for immediate occupancy. The property's ample parking and prominent location make it an ideal choice for a variety of retail uses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,625,000
      6.5%
      $1,500,000
      7%
      $1,390,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,293,000
      Market price range: $333k - $1.42M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $860,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Wichita
    County
    Sedgwick
    State
    Kansas
    Longitude
    -97.37
    Latitude
    37.6209
    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
    $28,320
    $38,300
    $210,825
    $249,125
    -
    $153,200
    $843,300
    $996,500

    Comparable in this City

    • Value Estimation by Request
      0.14 Acres

      Wichita, KS 67217

      WHOLESALE OUTLET, DISCOUNT STORE • 0.14 Acres
      Wichita, KS 67217
      View Details
    • Value Estimation by Request
      0.14 Acres

      Wichita, KS 67217

      WHOLESALE OUTLET, DISCOUNT STORE • 0.14 Acres
      Wichita, KS 67217
      View Details
    • Value Estimation by Request
      0.79 Acres

      Wichita, KS 67217

      WHOLESALE OUTLET, DISCOUNT STORE • 0.79 Acres
      Wichita, KS 67217
      View Details
    • Value Estimation by Request
      0.13 Acres

      Wichita, KS 67217

      WHOLESALE OUTLET, DISCOUNT STORE • 0.13 Acres
      Wichita, KS 67217
      View Details
    • Value Estimation
      $885,000
      8,000 SF

      221 47th S St

      WHOLESALE OUTLET, DISCOUNT STORE • 8,000 SF
      221 47th S St, Wichita, KS 67217-4909
      View Details
    • Value Estimation
      $1,755,000
      10,577 SF

      1475 31st S St

      WHOLESALE OUTLET, DISCOUNT STORE • 10,577 SF
      1475 31st S St, Wichita, KS 67217
      View Details

    Similar Nearby for Sale

    • $1,200,000
      13,696 SF

      Retail Investment Opportunity in Wichita

      Fully occupied retail center with high visibility and ample parking.
      1309 W 31St St S, Wichita, KS 67217
      View Details
    • $715,000
      3,204 SF

      Retail Property For Sale

      Retail property available for sale in Wichita, Kansas.
      614-638 W 33Rd St N, Wichita, KS 67217
      View Details
    • $1,609,000
      4,000 SF

      Remodeled Retail Building For Sale

      Recently remodeled retail building with long-term NNN leases.
      2548 S Seneca St, Wichita, KS 67217
      View Details
    • $595,000
      7,650 SF

      Retail Showroom and Warehouse Space

      Retail showroom and warehouse/shop space with refinished parking lot.
      2460 Meridian Ave S Meridian, Wichita, KS 67217
      View Details
    • Contact for pricing
      0.10 Acres

      Wichita Commercial Land - Steeple Bay

      Prime Wichita commercial lots, ideal retail.
      3928 Oak St, Wichita, KS 67217
      View Details
    • Contact for pricing
      131,708 SF

      New Industrial Building For Sale

      131,708 SF industrial building with dock-high and drive-in doors.
      1217 W Macarthur Rd, Wichita, KS 67217
      View Details

    Similar Nearby for Lease

    • $9 SF/Yr
      1,856 SF

      Seneca & Pawnee Retail Opportunity

      Updated finishes, high visibility, great location.
      2452 Seneca St, Wichita, KS 67217
      View Details
    • $15 SF/Yr
      782 SF

      Wichita Retail & Office Space

      Prime South Central Wichita location. Flexible spaces available.
      2422 Seneca St, Wichita, KS 67217
      View Details
    • $15 SF/Yr
      850 SF

      Retail & Office Spaces

      Retail and office spaces for lease in Wichita, Kansas.
      2422 S Seneca St, Wichita, KS 67217
      View Details
    • $9 SF/Yr
      24,680 SF

      Seneca Square Retail Center

      High-traffic Wichita strip center, strong anchors.
      3105 Seneca St, Wichita, KS 67217
      View Details
    • $9 SF/Yr
      1,856 SF

      Retail Space with Street Visibility

      Affordable retail space with high visibility on South Seneca.
      2452 S Seneca St, Wichita, KS 67217
      View Details
    • $925,868
      21,000 SF

      Industrial Warehouse Space Available

      Industrial warehouse space for rent with multiple loading options.
      4035 S Meridian Ave, Wichita, KS 67217
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    4040 Meridian Ave
    Wichita, KS 67217-3738
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.