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Property profile & analytics
FOR LEASE
Turn key restaurants
7777 E 21St St N Wichita, KS 67206
Entity Owned
Absentee Owner
Free & Clear
Property ID
US33-0303498
For Lease
1 / 7
Contact for pricing
7777 E 21St St N, Wichita, KS 67206
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Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1984
Total area
16,551 SF
Lot
1.12 ac (48,787 SF)
APN
087-113-07-0-11-01-004.00
UPID
US33-0303498
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
-
Any Lab Test Now Paternity Testing Service Specialized Clinic
-
Caribbean Sun Tanning Tanning Salon
-
Spectacles By Richard (Bike/Boat/Book/etc) Store
-
Malaysia Cafe Restaurant
-
TD Ameritrade Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$695k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.04M
Blend (final)
Blend
$695k
Owner & transaction history
TALLGRASS CENTRE & SHOPS LLC
TALLGRASS CENTRE & SHOPS LLC
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$695,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,390,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$695k
Range $626k – $765k · ±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
$42 / 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
$70,830
Tax year 2023
Assessed value
$598,100
Assessed 2024
Previous assessed
$614,850
-2.7% YoY
Effective rate
11.84%
On assessed value
Assessed land
$145,900
Assessed improvement
$452,200
Land market value
$583,600
Improvement market value
$1,808,800
Total market value
$2,392,400
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
Turn key restaurants
Use group
RESTAURANT
Status
For Lease
Year built
1984
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Bathrooms
2
Total area
16,551 SF
Lot
1.12 ac (48,787 SF)
APN
087-113-07-0-11-01-004.00
UPID
US33-0303498
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
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.4M
APARTMENT HOUSE (5+ UNITS)
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
1984
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
2
Lot
1.12 ac
Current owner
From public records · entity-resolved
TALLGRASS CENTRE & SHOPS LLC
Entity
Free & Clear · 0 yrs held
Mailing address
1660 N FOLIAGE DR, WICHITA, KS 67206-3326
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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