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    6400 31st S St Wichita, KS 67215

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    6400 31st S St Wichita, KS 67215

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    • Individual retail properties
    • 7,790 SF
    • 0.96 lot acres
    Off-Market
    Property ID
    US33-0660356
    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.
    Value Estimations
    $820,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Individual retail properties

    Property Details for 6400 31st S St

    Year built
    1992
    Lot size
    0.96 lot acres
    Property size
    7,790 SF
    Property type
    Individual retail properties
    APN
    087-202-03-0-34-01-001.00-A
    APU
    087202030340100100A

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $881,000
      Market price range: $309k - $908k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $565,000
      Current use
      RESTAURANT
      $835,000
      Change: +47% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $655,000
      Change: +16% Conversion: Difficult
      OFFICE BUILDING
      $645,000
      Change: +14% Conversion: Easy
      AUTO REPAIR, GARAGE
      $595,000
      Change: +5% Conversion: Difficult
      MEDICAL BUILDING
      $540,000
      Change: -5% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Wichita
    County
    Sedgwick
    State
    Kansas
    Longitude
    -97.417
    Latitude
    37.637
    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
    $19,747
    $2,625
    $176,065
    $178,690
    -
    $10,500
    $704,260
    $714,760

    Comparable in this City

    • Value Estimation by Request
      3,228 SF

      11012 Swsw Blvd

      CONVENIENCE STORE • 3,228 SF
      11012 Swsw Blvd, Wichita, KS 67215-8740
      View Details
    • Value Estimation by Request
      1.45 Acres

      Wichita, KS 67215

      RETAIL STORES (PERSONAL SERVICES) • 1.45 Acres
      Wichita, KS 67215
      View Details
    • Value Estimation by Request
      10,452 SF

      10808 Macarthur Rd

      RETAIL STORES (PERSONAL SERVICES) • 10,452 SF
      10808 Macarthur Rd, Wichita, KS 67215
      View Details
    • Value Estimation by Request
      3,960 SF

      2928 Hoover Rd

      AUTO REPAIR, GARAGE • 3,960 SF
      2928 Hoover Rd, Wichita, KS 67215-1220
      View Details
    • Value Estimation by Request
      2,978 SF

      10510 42nd Hwy

      BAR, TAVERN • 2,978 SF
      10510 42nd Hwy, Wichita, KS 67215-5500
      View Details
    • Value Estimation by Request
      3,750 SF

      7006 Macarthur Rd

      BAR, TAVERN • 3,750 SF
      7006 Macarthur Rd, Wichita, KS 67215-8429
      View Details

    Similar Nearby for Sale

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      3,950 SF

      Retail Property on N Maize

      Retail property with 3,950 square feet of space.
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    • Contact for pricing
      170,484 SF

      Corner Land Parcel in Wichita

      Land parcel on Pawnee and Webb in Wichita, Kansas.
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    • $379,800
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      West Wichita Twin Home

      Zero entry twin home in Goddard School district.
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    • $395,000
      1.90 Acres

      Prime Corner Lot in Wichita

      Nearly 2 acres on high-traffic corner, endless development possibilities.
      3930 S Hoover Rd, Wichita, KS 67215
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    • New
      $379,800
      2,390 SF

      West Wichita Twin Homes

      New twin homes in desirable Wichita location.
      2881 S Cedar Crst Ct, Wichita, KS 67215
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    • New
      $379,800
      2,390 SF

      West Wichita Twin Home

      New twin home in Pawnee Crossing, Goddard School district.
      2877 S Cedar Crst Ct, Wichita, KS 67215
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    Similar Nearby for Lease

    • $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

      Freestanding Building with K-42 Frontage

      Adaptable freestanding building suitable for various uses with K-42 frontage.
      12420 W K 42 Hwy, Wichita, KS 67215
      View Details
    • $12 SF/Yr
      6,500 SF

      Hoover Court Flex/Industrial Space

      Flex/industrial space in Hoover industrial park with high-end finishes.
      4010 N Hoover Ct, 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.
      2930 S Hoover Rd, Wichita, KS 67215
      View Details
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    6400 31st S St
    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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