Flex Space with 12-Foot Overhead
For Sale
Contact for pricing
1001 E Central Ave, Wichita, KS 67214
Flex space offers Modified Gross leasing and multiple layout options with 12 ft overhead doors plus an adjacent fenced lot.
Property Size6,930 SF
Price / SF$82.97
Days on Market647
Property Features for 1001 E Central Ave
General Information
Standard status
Active
Size
6,930 SF
Property subtype
RETAIL
Additional Details
Fenced Yard
Yes
Listing Agency:
InSite Real Estate Group, LLC
(316) 618-1100
Listed By:
Jake Ramstack · License #SP00230947
(316) 618-1100
Source:
Moodyscre
Added: Oct 29, 2024
Changed: Jul 30
Last Checked: Aug 5 at 5:30AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of InSite Real Estate Group, LLC
Investment Insights
Based on property information with market context.
This flex space is configured as two suites that can be leased separately or together, with multiple layout options to support a range of user needs. Suite 1 is 2,128 SF, Suite 2 is 4,802 SF, and the combined space totals 6,930 SF. The property is offered on a Modified Gross basis and includes 12 ft overhead doors.
An adjacent fenced lot is included, and the property sits on a hard corner, supporting strong retail and service-oriented visibility.
Flexibility is built into the layout and leasing structure, with the option to occupy one suite or combine both for a larger footprint.
An adjacent fenced lot is included, and the property sits on a hard corner, supporting strong retail and service-oriented visibility.
Flexibility is built into the layout and leasing structure, with the option to occupy one suite or combine both for a larger footprint.
Key Highlights
- 6,930 SF flex space with multiple layout options
- Suite 1: 2,128 SF and Suite 2: 4,802 SF can be leased separately or together
- 12 ft overhead doors
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
$45,900
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
7.98%
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%
$918,000
$918.0K
Cap Rate 7%
$655,714
$655.7K
Cap Rate 9%
$510,000
$510.0K
Market Conditions
NOI Build-Up for 6,930 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
$69.0K $9.96/SF
− Vacancy
−$3.5K −$0.50/SF
EGI
$65.6K $9.46/SF
− OpEx
−$19.7K −$2.84/SF
NOI
$45.9K $6.62/SF
Area
Wichita, KS
Vacancy
5.00%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
30.00%
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%
$918,000
Cap Rate 7%
$655,714
Cap Rate 9%
$510,000
Alternative Uses
Best Use
Warehouse
$848.6K
$742.6K – $990.1K
NOI $59,405 @ 7.0% cap · market cap 10.33%
Second Best
Flex RnD
$783.9K
$686.0K – $914.6K
NOI $54,876 @ 7.0% cap · market cap 9.54%
Theoretical Best
Office A
$1.72M
$1.50M – $2.00M
NOI $120,112 @ 7.0% cap · market cap 20.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,376
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 67214, KS
15,936
Population
8,197
Households
1.9
Avg Household Size
33
Median Age
13%
College-Educated
77%
High-School Grad
5.3 sq mi
ZIP Area
3,007
Density / Sq Mi
$36,636
Median Household Income
$25,518
Median Earnings
$752
Median Rent
$72,600
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- The Kitchen — 725 E Douglas Ave, Wichita, KS 67202
- Aramark Correctional Services — 401 S Emporia St, Wichita, KS 67202
- Smokin' Diner Food Truck — Wichita, KS 67202
Frequently Asked Questions
What type of property is this?
Flex space - Flex space offers Modified Gross leasing and multiple layout options with 12 ft overhead doors plus an adjacent fenced lot.
Where is this flex space located?
The property is located at 1001 E Central Ave Wichita, KS.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 6,930 SF flex space with multiple layout options; Suite 1: 2,128 SF and Suite 2: 4,802 SF can be leased separately or together; 12 ft overhead doors
