Back to Search
Property profile & analytics
FOR LEASE
Strip malls
8336 East 21St St North Wichita, KS 67206
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US33-0482935
For Lease
1 / 6
Contact for pricing
8336 East 21St St North, Wichita, KS 67206
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1998
Total area
15,031 SF
Lot
2.65 ac (115,434 SF)
APN
087-113-05-0-33-03-009.01
UPID
US33-0482935
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
-
Hot Asana Yoga Studio (East Location) Gym & Fitness Center
-
Backyard Nature Center Pet Store & Service Pet Store
-
Pinspiration Wichita (Bike/Boat/Book/etc) Store
-
BlueChipOCM Alternative Medicine Practice Spa & Massage Center
-
Chabad Lubavitch of Wichita Synagogue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$785k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$890k
Blend (final)
Blend
$785k
Owner & transaction history
Tallgrass Centre & Shops LLC · 11 yrs held
Tallgrass Centre & Shops LLC
since 2014
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$1.3M
+78.8%
Auto repair, garage
$1.2M
+62.6%
Medical building
$970,000
+37.4%
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
$785,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$705,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,265,000
Change: +79% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,150,000
Change: +63% · Conversion: Difficult
MEDICAL BUILDING
$970,000
Change: +37% · Conversion: Difficult
OFFICE BUILDING
$895,000
Change: +27% · Conversion: Moderate
Blend value · Realmo final
$785k
Range $707k – $864k · ±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
$52 / 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
$105,770
Tax year 2023
Assessed value
$964,100
Assessed 2024
Previous assessed
$918,200
+5.0% YoY
Effective rate
10.97%
On assessed value
Assessed land
$187,450
Assessed improvement
$776,650
Land market value
$749,800
Improvement market value
$3,106,600
Total market value
$3,856,400
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1998
Heating
YES
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Bathrooms
2
Total area
15,031 SF
Lot
2.65 ac (115,434 SF)
APN
087-113-05-0-33-03-009.01
UPID
US33-0482935
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$705,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$970,000
OFFICE BUILDING
Est. value
$895,000
NEIGHBORHOOD: SHOPPING CENTER Current
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
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
1998
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Bathrooms
2
Lot
2.65 ac
Current owner
From public records · entity-resolved
Tallgrass Centre & Shops LLC
Entity
Mailing address
1660 N FOLIAGE DR, WICHITA, KS 67206-3326
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 31, 2014
—
Tallgrass Centre & Shops LLC
Slawson Commercial Development Comp
Special Warranty Deed
$8,900,000 · Goldman Sachs Mortgage Company
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
