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Wichita, KS 67211,407 S Hydraulic Ave
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Wichita, KS 67211,407 S Hydraulic Ave
Wichita, KS 67211,407 S Hydraulic Ave
Wichita, KS 67211,407 S Hydraulic Ave
Wichita, KS 67211,407 S Hydraulic Ave
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Heather Stewart

Heather Stewart

+1(316) 204-3645
Listed by Megan Rae Niedens • McCurdy Real Estate & Auction, LLC • OFF: 316-867-3600
$ 334,900
Est. payment /mo
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Price Dropped by $5K

407 S Hydraulic Ave Wichita, KS 67211

0.32 Acres Lot

UPDATED:

09/24/2024 01:11 PM

Key Details

Property Type Commercial

Sub Type Retail

Listing Status Active

Purchase Type For Sale

Subdivision Burrs

MLS Listing ID SCK639735

Originating Board sckansas

Year Built 1966

Annual Tax Amount $4,354

Tax Year 2023

Lot Size 0.320 Acres

Acres 0.32

Property Description

Invest in this prime commercial property located just south of downtown and close to E. Kellogg. The building encompasses 4,725 square�feet and includes two separate tenant spaces, currently generating an annual revenue of $32,400.�This versatile property offers an�excellent opportunity to expand your investment portfolio with a steady cash flow. Unit 407 S. Hydraulic has a 3-year lease expiring�8/31/2027.�Tenant pays $0 per month for September and October of 2024, $1,000 per month for November and December, then $1,850 for each month thereafter through August of 2025. Year two: commencing on September 1, 2025, rents will increase to a rate of $1,900 per month and Year three: Commencing on September 1, 2026 rents will increase to a rate of $1,960 per month. The tenant is responsible for paying any increase in taxes from when the lease commences.��The tenant�pay for all utilities. Unit 411�S. Hydraulic is rented for $850 per month until 11/30/2024 with a $850 security deposit.�The tenant has the option to extend this lease for one year at $850 per month with a written 60-day notice, or go month-to-month with a new monthly rent amount of $900.�The tenant is responsible for paying any increase in taxes from when the lease commences.�The tenant�pay for all utilities. The property features a large paved parking lot with�over 20 spaces and is situated in a desirable location with close proximity to E. Kellogg, providing easy access. It is zoned for limited�commercial use and sits on a 0.32-acre lot, making it an ideal addition to your investment portfolio. Recent updates to the property�include two new HVAC units installed in 2024 for Unit 407, and a new HVAC unit installed in 2022 for Unit 411. Unit 407 also received�new vinyl plank flooring in 2023. Unit 411 has a new electric hot water heater (40 gallons). Both units were upgraded with new ceiling�and LED lighting in 2023, as well as new emergency lighting in 2022. Don?t miss out on this great investment opportunity!

Location

State KS

County Sedgwick

Area 4725

Zoning Limited Comm

Direction E. Douglas & S. Hydraulic - South to property

Interior

Heating Forced Air, Gas

Cooling Central Air, Electric

Flooring Concrete Slab, Other - See Remarks

Fireplace No

Heat Source Forced Air, Gas

Exterior

Garage Description Parking Lot, Parking to 25, Paved

Utilities Available Gas, Electric, City Water, City Sewer, Separate Meters

View Y/N Yes

Roof Type Flat

Present Use Salon

Street Surface City Arterial

Building

Story 1

Structure Type Brick Full,Metal

Others

Miscellaneous Security Lights

Acceptable Financing Existing Leases

Listing Terms Existing Leases

Heather Stewart

Agent | License ID: SP00049463

+1(316) 204-3645

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