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Property profile & analytics
OFF-MARKET
Estimated value
$625,000
Retail space
523 Douglas Ave Wichita, KS 67202-3501
Trust Owned
2-yr Hold
Free & Clear
Property ID
US33-0792721
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1887
Total area
10,132 SF
Lot
0.44 ac (19,166 SF)
APN
087-125-21-0-32-01-005.02
UPID
US33-0792721
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
-
Bubbles Champagne Bar Bar & Pub
-
Urban Interiors Home Decor Store Department Store
-
The Workroom (Bike/Boat/Book/etc) Store
-
Eightball Fashion Clothing & Fashion Store
-
The Loud Cicada Outdoors (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$605k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$643k
Blend (final)
Blend
$625k
Owner & transaction history
Ginger Lee Frye Living Trust · 2 yrs held
Ginger Lee Frye Living Trust
since 2024
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$875,000
+109.4%
Restaurant
$855,000
+104.8%
Office building
$805,000
+92.8%
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
$605,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$420,000
Current use
APARTMENT HOUSE (5+ UNITS)
$875,000
Change: +109% · Conversion: Difficult
RESTAURANT
$855,000
Change: +105% · Conversion: Easy
OFFICE BUILDING
$805,000
Change: +93% · Conversion: Easy
AUTO REPAIR, GARAGE
$775,000
Change: +85% · Conversion: Difficult
MEDICAL BUILDING
$700,000
Change: +68% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$590,000
Change: +41% · Conversion: Moderate
WAREHOUSE, STORAGE
$515,000
Change: +23% · Conversion: Difficult
Blend value · Realmo final
$625k
Range $563k – $688k · ±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
$62 / 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
$63,040
Tax year 2023
Assessed value
$516,720
Assessed 2024
Previous assessed
$516,720
+0.0% YoY
Effective rate
12.20%
On assessed value
Assessed land
$47,950
Assessed improvement
$468,770
Land market value
$191,800
Improvement market value
$1,875,080
Total market value
$2,066,880
Applied tax rate
6,767.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1887
Heating
YES
Cooling
AC.PACKAGE
Buildings
6
Stories
1
Bathrooms
4
Total area
10,132 SF
Lot
0.44 ac (19,166 SF)
APN
087-125-21-0-32-01-005.02
UPID
US33-0792721
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
RETAIL STORES Current
Est. value
$420,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$875,000
RESTAURANT
Est. value
$855,000
OFFICE BUILDING
Est. value
$805,000
AUTO REPAIR, GARAGE
Est. value
$775,000
MEDICAL BUILDING
Est. value
$700,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$590,000
WAREHOUSE, STORAGE
Est. value
$515,000
RETAIL STORES Current
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
WAREHOUSE, STORAGE
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
1887
Heating
YES
Cooling
Yes
Stories
1
Buildings
6
Bathrooms
4
Lot
0.44 ac
Current owner
From public records · entity-resolved
Ginger Lee Frye Living Trust
Trust
Free & Clear · 2 yrs held
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 13, 2024
—
Ginger Lee Frye Living Trust
Ginger L Frye
Quit Claim Deed
related
—
Jan 6, 2023
—
Eaton Place Best Living LLC
Zars Holdings LLC
Limited Warranty 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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