Self Storage Unit with Overhead
For Sale
$139,000
1532 E Mason Dr Unit A 103, Kechi, KS 67067
Commercial Sale, Kechi, KS
Property Size1,500 SF
Lot Size1.56 Acres
Price / SF$92.67
Days on Market373
Property Features for 1532 E Mason Dr Unit A 103
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Community Unit
Parking features
Garage
Directions
From Hwy 254 & Woodlawn, N to Tigua St, S to Mason Dr
Subdivision
SCKMLS
Standard status
Active
APN
103-07-0-33-03-002.00
Lot size
1.56 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Long Legal See Exhibit A in Property Information Packet
Tax Annual Amount
2716
Legal Description
Long Legal See Exhibit A in Property Information Packet
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Water source
Public
Amenities
gated entrance
24/7 camera monitoring
exterior timed lighting
Building Details
Year built
2023
Floors in Building
1
Flooring type
Concrete
Building materials
Metal Siding
Roof type
Metal
Listing Agency:
McCurdy Real Estate & Auction, LLC
(316) 867-3600
Listed By:
Braden McCurdy · License #BR00052737
(316) 683-0612
Added: Aug 29, 2025
Changed: Aug 28
Last Checked: Sep 5 at 6:06PM
MLS# 661036
Copyright © 2026 South Central Kansas MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This self-storage condominium unit was constructed in 2023 and offers 1,500 square feet within a 25-by-60-foot footprint. The space includes 14-by-16-foot automatic overhead doors, 50-foot driveways, concrete flooring, LED lighting, and a half bathroom. Tilted ceilings may accommodate mezzanine construction. Exterior walls and the metal roof are insulated, while the unit has 220-volt power and a dedicated 100-amp service panel.
Access is provided through a paved entry from Woodlawn with a gated entrance and coded entry system. The property is served by public water and public sewer, with electricity available. Exterior timed lighting and continuous camera monitoring are in place. The site is accessible from the Hwy K-254 and K96 interchange and carries Community Unit zoning.
Access is provided through a paved entry from Woodlawn with a gated entrance and coded entry system. The property is served by public water and public sewer, with electricity available. Exterior timed lighting and continuous camera monitoring are in place. The site is accessible from the Hwy K-254 and K96 interchange and carries Community Unit zoning.
Key Highlights
- 1,500 SF self‑storage condominium unit built in 2023
- 25 X 60 footprint with 14ft x16ft automatic overhead doors
- 50ft driveways and paved entry from Woodlawn
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$9,338
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.72%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$186,760
$186.8K
Cap Rate 7%
$133,400
$133.4K
Cap Rate 9%
$103,756
$103.8K
Market Conditions
NOI Build-Up for 1,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$11.7K $7.80/SF
− Vacancy
−$714 −$0.48/SF
EGI
$11.0K $7.32/SF
− OpEx
−$1.6K −$1.10/SF
NOI
$9.3K $6.23/SF
Area
Sedgwick County, KS
Vacancy
6.10%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$186,760
Cap Rate 7%
$133,400
Cap Rate 9%
$103,756
Alternative Uses
Best Use
Self Storage
$184.1K
$161.1K – $214.8K
NOI $12,890 @ 7.0% cap · market cap 9.27%
Second Best
Warehouse
$133.4K
$116.7K – $155.6K
NOI $9,338 @ 7.0% cap · market cap 6.72%
Theoretical Best
Office A
$312.6K
$273.6K – $364.8K
NOI $21,885 @ 7.0% cap · market cap 15.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
50
Businesses Nearby
Explore this area
Business Placement
Demographics for 67067, KS
1,831
Population
862
Households
2.1
Avg Household Size
40
Median Age
52%
College-Educated
96%
High-School Grad
4.7 sq mi
ZIP Area
390
Density / Sq Mi
$98,750
Median Household Income
$55,568
Median Earnings
$1,610
Median Rent
$239,600
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Newer condominium storage space with secure controlled access, dedicated electrical service, and flexible interior buildout potential.
Where is this self storage facility located?
The property is located at 1532 E Mason Dr Unit A 103 Kechi, KS.
What is the asking price?
The asking price for this property is $139,000.
What are key features of this property?
This property features: 1,500 SF self‑storage condominium unit built in 2023; 25 X 60 footprint with 14ft x16ft automatic overhead doors; 50ft driveways and paved entry from Woodlawn
