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    7777 E 21St St N Wichita, KS 67206

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    7777 E 21St St N Wichita, KS 67206

    View on Map
    • Turn key restaurants
    • 16,551 SF
    • 1.12 lot acres
    For Lease
    $870,000
    View Listing →
    Retail and Office Space Available For Lease
    $870,000

    Retail and Office Space Available

    Retail and office spaces for rent in Wichita, Kansas.

    7777 E 21st St N, Wichita, KS 67206
    View Listing
    Property ID
    US33-0303498
    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
    $870,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Any Lab Test Now / Medical Laboratory / Drug Testing Service
    • Caribbean Sun Tanning / Tanning Salon
    • Spectacles By Richard / (Bike/Boat/Book/etc) Store
    • Malaysia Cafe / Restaurant
    • TD Ameritrade / Financial Advisor

    Property Details for 7777 E 21St St N

    Year built
    1984
    Lot size
    1.12 lot acres
    Property size
    16,551 SF
    Property type
    Turn key restaurants
    APN
    087-113-07-0-11-01-004.00
    APU
    87113070110100400

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $695,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,043,000
      Market price range: $1.04M - $2.18M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,390,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Wichita
    County
    Sedgwick
    State
    Kansas
    Longitude
    -97.2468
    Latitude
    37.7226
    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
    $70,830
    $145,900
    $452,200
    $598,100
    -
    $583,600
    $1,808,800
    $2,392,400

    Comparable in this City

    • Value Estimation
      $535,000
      8,480 SF

      1413 Waterfront Pkwy

      RESTAURANT • 8,480 SF
      1413 Waterfront Pkwy, Wichita, KS 67206-6600
      View Details
    • Value Estimation
      $555,000
      7,886 SF

      11711 13th N St

      RESTAURANT • 7,886 SF
      11711 13th N St, Wichita, KS 67206-3703
      View Details
    • Value Estimation by Request
      3,050 SF

      9780 21st N St

      RESTAURANT • 3,050 SF
      9780 21st N St, Wichita, KS 67206-3201
      View Details
    • Value Estimation
      $510,000
      5,988 SF

      9719 21st N St

      RESTAURANT • 5,988 SF
      9719 21st N St, Wichita, KS 67206-3536
      View Details
    • Value Estimation by Request
      3,451 SF

      2181 Rock Rd

      RESTAURANT • 3,451 SF
      2181 Rock Rd, Wichita, KS 67206-1259
      View Details
    • Value Estimation by Request
      3,600 SF

      2111 Rock Rd, Unit 1

      RESTAURANT • 3,600 SF
      2111 Rock Rd, Wichita, KS 67206-1263
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4.87 Acres

      Wichita Restaurant & Retail Land

      Prime Wichita location, 4.87 acres.
      0 Greenwich Rd, Wichita, KS 67206
      View Details
    • $1,200,000

      East Wichita Restaurant Opportunity

      Well-maintained, fully equipped restaurant near Kellogg & Rock Rd.
      8030 E Kellogg St, Wichita, KS 67206
      View Details
    • Contact for pricing
      7,626 SF

      Retail Space in Plazzio Development

      Second generation retail space available in east Wichita.
      11423 E 13Th St N, Wichita, KS 67206
      View Details
    • Contact for pricing
      5,016 SF

      Former Carwash on Webb Road

      One-acre lot with carwash and high-traffic Webb Road frontage.
      700 N Webb Rd, Wichita, KS 67206
      View Details
    • Contact for pricing
      7,626 SF

      Retail Space in Plazzio Development

      Second generation retail space in east Wichita's Plazzio development.
      11423 E 13Th St N, Wichita, KS 67206
      View Details
    • Contact for pricing

      Central & 127th Street Property

      Property at Central & 127th Street, Wichita, Kansas.
      SE/C 127Th St, Wichita, KS 67206
      View Details

    Similar Nearby for Lease

    • $28 SF/Yr

      Restaurant Space Near Kellogg & Rock

      Former Denny's restaurant space for lease in east Wichita.
      8030 E Kellogg St, Wichita, KS 67206
      View Details
    • Contact for pricing

      Turn-Key Restaurant Space Available

      Turn-key restaurant space available in a retail center.
      2146 Collective Ln, Wichita, KS 67206
      View Details
    • Contact for pricing

      New Retail Development with Options

      New construction retail development with drive-thru and rooftop options.
      1097 N Greenwich Rd, Wichita, KS 67206
      View Details
    • Contact for pricing

      Restaurant/Retail Space on Rock Road

      Restaurant/retail space with existing kitchen, patio, and high visibility.
      550 N Rock Rd, Wichita, KS 67206
      View Details
    • Contact for pricing
      8,500 SF

      Upscale Retail Space in Wichita

      Prime retail opportunity in Wichita's affluent Waterfront area.
      1413 Waterfront Pkwy, Wichita, KS 67206
      View Details
    • Contact for pricing
      1,950 SF

      Retail Space with Drive-Thru Access

      End-cap retail space with drive-thru in East Wichita.
      11414 E Central Ave, Wichita, KS 67206
      View Details

    Property Visit Statistics

    • Visits by month
      4.2k
    • Visitors by month
      2.5k
    • Avg Time on site
      49 min
    View Listing
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    Wichita, KS 67206
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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.

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    7777 E 21St St N, Wichita, KS, 67206

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