Retail Center on Central
For Sale
Contact for pricing
10646 W Central Ave, Wichita, KS
Retail center with high visibility and strong demographics.
Property Size7,930 SF
Lot Size0.73 Acres
Price / SF$163.93
Days on Market267
Property Features for 10646 W Central Ave
General Information
Standard status
Active
Size
7,930 SF
Lot size
0.73 Acres
Property subtype
RETAIL
Listing Agency:
NAI Martens
(316) 253-0660
Listed By:
Patrick Ahern · License #SP00052327
(316) 253-0660
Source:
Moodyscre
Added: Nov 26, 2025
Changed: Aug 8
Last Checked: Aug 8 at 5:28AM
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 NAI Martens
Investment Insights
Based on property information with market context.
This retail center is located on Central Avenue, just west of Maize Road, offering strong visibility and signage. The well-maintained center serves a dense residential area and benefits from high traffic, with approximately 37,285 vehicles per day. Ample front-door parking provides easy access and convenient drive-up visibility. The property is situated in an area with strong demographics, steady population growth, and high consumer activity. It is also in close proximity to major commercial corridors, restaurants, and daily-needs retailers. The property size is 7,930 square feet.
Key Highlights
- High traffic location with approximately 37,285 vehicles per day (VPD).
- Strong visibility and signage along W. Central Ave.
- Ample front‑door parking with easy access and convenient drive‑up visibility.
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
$81,063
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
6.24%
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%
$1,621,260
$1.6M
Cap Rate 7%
$1,158,043
$1.2M
Cap Rate 9%
$900,700
$900.7K
Market Conditions
NOI Build-Up for 7,930 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
$126.6K $15.96/SF
− Vacancy
−$10.8K −$1.36/SF
EGI
$115.8K $14.60/SF
− OpEx
−$34.7K −$4.38/SF
NOI
$81.1K $10.22/SF
Area
Wichita, KS
Vacancy
8.50%
Lease Rate
$15.96 /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%
$1,621,260
Cap Rate 7%
$1,158,043
Cap Rate 9%
$900,700
Alternative Uses
Best Use
Retail
$1.16M
$1.01M – $1.35M
NOI $81,063 @ 7.0% cap · market cap 6.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.96M
$1.72M – $2.29M
NOI $137,445 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
269
Businesses Nearby
129k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 78%
Dining 13%
Shops & Services 9%
Dillons
Groceries
49,041 visits/mo
0.1 miles
Walmart Neighborhood Market
Groceries
27,815 visits/mo
0.1 miles
Aldi
Groceries
23,300 visits/mo
0.1 miles
Chili's Grill & Bar
Dining
15,942 visits/mo
0.0 miles
Dillons Fuel Center
Shops & Services
11,162 visits/mo
0.2 miles
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Coinstar Kiosk | Bitcoin ATM — Kroger - Dillon Food Stores, 10515 W. Central & Maize, Wichita, KS 67212
Frequently Asked Questions
What type of property is this?
Shopping center - Retail center with high visibility and strong demographics.
Where is this shopping center located?
The property is located at 10646 W Central Ave Wichita, KS.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: High traffic location with approximately 37,285 vehicles per day (VPD).; Strong visibility and signage along W. Central Ave.; Ample front‑door parking with easy access and convenient drive‑up visibility.
