Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    701 2nd N St Wichita, KS 67202-8700
    Back to Search
    Property profile & analytics

    701 2nd N St Wichita, KS 67202-8700

    View on Map
    • Garden apartment buildings
    • 56,694 SF
    • 0.29 lot acres
    Off-Market
    Property ID
    US33-0410449
    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
    $1,310,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hi-Tone Lofts / Apartment Building / Apartment Complex
    • Affordable Car Insurance Wichita / Insurance Agency

    Property Details for 701 2nd N St

    Year built
    1910
    Construction
    FRAME
    Lot size
    0.29 lot acres
    Property size
    56,694 SF
    Property type
    Garden apartment buildings
    APN
    087-125-21-0-24-05-001.00-A
    APU
    087125210240500100A

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Wichita
    County
    Sedgwick
    State
    Kansas
    Longitude
    -97.3298
    Latitude
    37.6896
    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
    $16,575
    $2,542
    $335,386
    $337,928
    -
    $22,100
    $2,916,400
    $2,938,500

    Comparable in this City

    • Value Estimation by Request
      0.05 Acres

      Wichita, KS 67202

      GARDEN APT, COURT APT (5+ UNITS) • 0.05 Acres
      Wichita, KS 67202
      View Details
    • Value Estimation by Request
      0.13 Acres

      Wichita, KS 67202

      GARDEN APT, COURT APT (5+ UNITS) • 0.13 Acres
      Wichita, KS 67202
      View Details
    • Value Estimation by Request
      3,600 SF

      617 William St

      GARDEN APT, COURT APT (5+ UNITS) • 3,600 SF
      617 William St, Wichita, KS 67202-4617
      View Details
    • Value Estimation
      $8,650,000
      131,277 SF

      120 1st N St

      GARDEN APT, COURT APT (5+ UNITS) • 131,277 SF
      120 1st N St, Wichita, KS 67202-2001
      View Details
    • Value Estimation by Request
      8,960 SF

      401 3rd N St

      GARDEN APT, COURT APT (5+ UNITS) • 8,960 SF
      401 3rd N St, Wichita, KS 67202-2537
      View Details
    • Value Estimation
      $550,000
      18,444 SF

      207 Emporia Ave

      GARDEN APT, COURT APT (5+ UNITS) • 18,444 SF
      207 Emporia Ave, Wichita, KS 67202-2530
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      25,715 SF

      Historic Multifamily Property in Wichita

      Renovated historic multifamily property in Downtown Wichita with modern amenities.
      619 E William St, Wichita, KS 67202
      View Details
    • Contact for pricing

      Historic Mixed-Use Eaton Place

      Mixed-use property in downtown Wichita near entertainment and biomedical campus.
      517 East Douglas Ave, Wichita, KS 67202
      View Details
    • $6,000,000

      Downtown Wichita Redevelopment Opportunity

      Vacant 10-story office building suitable for multifamily conversion.
      111 W Douglas Ave, Wichita, KS 67202
      View Details
    • $875,000

      12,000 SF Office Building

      12,000 SF office building available for sale.
      434 N Main St, Wichita, KS 67202
      View Details
    • Contact for pricing
      102,830 SF

      Downtown Wichita Office Building For Sale

      Office building in downtown Wichita with convenient parking options.
      110 S Main St, Wichita, KS 67202
      View Details
    • Contact for pricing
      115,670 SF

      Flex Space Warehouse For Sale

      Divisible flex space warehouse with office and on-site parking.
      811 E Waterman St, Wichita, KS 67202
      View Details

    Similar Nearby for Lease

    • $1,395 /Mo
      31,886 SF

      Renovated Commercial Space with Amenities

      Commercial space in historic building with modern amenities for rent.
      108 E 2Nd St N, Wichita, KS 67202
      View Details
    • $14 SF/Yr
      65,697 SF

      Downtown Wichita Office Space

      Historic Charm, Modern Amenities
      100 Main St, Wichita, KS 67202
      View Details
    • Contact for pricing

      Commerce Street Office/Retail Space

      Open office/retail space with high visibility and unique features.
      400 S Commerce St, Wichita, KS 67202
      View Details
    • Contact for pricing

      Historical Kress Building Office Space

      Office space in historical building near new Bio Med campus.
      224 E Douglas Ave, Wichita, KS 67202
      View Details
    • Contact for pricing
      1,627 SF

      Retail Space in Old Town

      Prime retail space for lease in Old Town, Wichita.
      141 N Rock Island St, Wichita, KS 67202
      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.
    701 2nd N St
    Wichita, KS 67202-8700
    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

    Thank You for Inquiry
    701 2nd N St, Wichita, KS, 67202
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!