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Property profile & analytics
OFF-MARKET
Estimated value
$1,395,000
Outlet malls
4040 Meridian Ave Wichita, KS 67217-3738
Entity Owned
Absentee Owner
Free & Clear
Property ID
US33-1576324
Property summary
AI-generated overview
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.
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2017
Total area
8,400 SF
Lot
1.26 ac (54,886 SF)
APN
087-214-18-0-22-02-001.01
UPID
US33-1576324
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
-
Family Dollar Discount Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.50M
Comparable Approach
Comparable
$1.29M
Blend (final)
Blend
$1.40M
Owner & transaction history
Autozone Parts INC
Autozone Parts INC
since 2025
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$860,000
+17.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Wichita submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wichita submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,625,000
6.5%
$1,500,000
7%
$1,390,000
Alternative Use
Use
Estimation
RESTAURANT
$860,000
Change: +17% · Conversion: Easy
Blend value · Realmo final
$1.40M
Range $1.26M – $1.53M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$166 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$28,320
Tax year 2023
Assessed value
$249,125
Assessed 2024
Previous assessed
$230,700
+8.0% YoY
Effective rate
11.37%
On assessed value
Assessed land
$38,300
Assessed improvement
$210,825
Land market value
$153,200
Improvement market value
$843,300
Total market value
$996,500
Applied tax rate
6,702.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
2017
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Total area
8,400 SF
Lot
1.26 ac (54,886 SF)
APN
087-214-18-0-22-02-001.01
UPID
US33-1576324
Jurisdiction
SEDGWICK
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$860,000
RESTAURANT
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2017
Heating
YES
Cooling
Yes
Stories
1
Lot
1.26 ac
Current owner
From public records · entity-resolved
Autozone Parts INC
Entity
Free & Clear · 0 yrs held
Mailing address
10301 MONROE RD, MATTHEWS, NC 28105-5448
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 25, 2025
—
Autozone Parts INC
Marion Barsky
Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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