New search
Property profile & analytics
FOR LEASE
Retail space
8440 E 29Th St, Wichita, KS 67226
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US33-0793491
For Lease
1 / 5
$510,000
8440 E 29Th St, Wichita, KS 67226
View Listing →
Property summary
AI-generated overview
This exceptional single-story, Class B commercial property, built in 2006, offers 14,524 square feet of versatile retail and office space at 8440 East 29th St N, Wichita, KS 67226. Located at the convenient intersection of 29th and Rock, this property boasts a prime location with high visibility and easy access. The building features six suites, with a minimum divisible space of 2,000 square feet and a maximum contiguous space of 7,596 square feet. Currently, 10,696 square feet is available for lease. Tenants can benefit from a tenant improvement allowance. The 1.45-acre site provides ample parking with 80 spaces. The property is zoned LC and situated in Sedgwick County. This is an excellent opportunity for businesses seeking flexible, well-located space in a thriving area. The building is a single structure with one story.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2006
Total area
14,524 SF
Lot
1.45 ac (63,162 SF)
APN
087-109-32-0-34-01-012.00
UPID
US33-0793491
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
-
US Food & Drug Administration Government Office Public Health Department
-
Arika J. Brown, DC Alternative Medicine Practice
-
Brown Chiropractic Alternative Medicine Practice
-
Anthony Mykel Barta Alternative Medicine Practice
-
Rachel Viner Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$590k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$426k
Blend (final)
Blend
$510k
Owner & transaction history
Petra Wichita LLC · 4 yrs held
Petra Wichita LLC
since 2022
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$750,000
+57.8%
Office building
$715,000
+50.0%
Medical building
$595,000
+25.2%
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
$590,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$475,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$750,000
Change: +58% · Conversion: Moderate
OFFICE BUILDING
$715,000
Change: +50% · Conversion: Easy
MEDICAL BUILDING
$595,000
Change: +25% · Conversion: Difficult
WAREHOUSE, STORAGE
$450,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$510k
Range $459k – $561k · ±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
$35 / 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
$35,533
Tax year 2023
Assessed value
$331,538
Assessed 2024
Previous assessed
$308,425
+7.5% YoY
Effective rate
10.72%
On assessed value
Assessed land
$63,100
Assessed improvement
$268,438
Land market value
$252,400
Improvement market value
$1,073,750
Total market value
$1,326,150
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
2006
Heating
SPACE
Cooling
AC.PACKAGE
Stories
1
Bathrooms
2
Total area
14,524 SF
Lot
1.45 ac (63,162 SF)
APN
087-109-32-0-34-01-012.00
UPID
US33-0793491
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
RETAIL STORES Current
Est. value
$475,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$750,000
OFFICE BUILDING
Est. value
$715,000
MEDICAL BUILDING
Est. value
$595,000
WAREHOUSE, STORAGE
Est. value
$450,000
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
2006
Heating
SPACE
Cooling
Yes
Stories
1
Bathrooms
2
Lot
1.45 ac
Current owner
From public records · entity-resolved
Petra Wichita LLC
Entity
Mailing address
251 S WHITTIER RDC, WICHITA, KS 67207-1051
Ownership since
2022
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
Jan 4, 2022
—
Petra Wichita LLC
Homer Morgan Revocable Trust
Special Warranty Deed
$862,500 · Rcb Bank
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.
