7,845 SF Retail
For Sale
$1,300,000
10646 W Central, Wichita, KS 67212
Retail center for sale, 7,845 square feet.
Property Size7,930 SF
Price / SF$165.71
Days on Market164
Property Features for 10646 W Central
General Information
Standard status
Active
Size
7,930 SF
Property subtype
Retail
Building Details
Building Size
7,930 SF
Year Built
1994
Listing Agency:
(316) 847-4914
Listed By:
Patrick Ahern, SIOR, CCIM
Source:
Naiglobal
Added: Feb 26
Changed: Aug 8
Last Checked: Aug 8 at 6:44AM
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 Patrick Ahern, SIOR, CCIM
Investment Insights
Based on property information with market context.
This commercial real estate offering is a 7,845 square foot retail center. The property is located in Wichita, Kansas.
Key Highlights
- 7,845 SF Retail Center
- Retail Center
- Property is 7,845 SF
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
$81,667
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
6.28%
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%
$1,633,340
$1.6M
Cap Rate 7%
$1,166,671
$1.2M
Cap Rate 9%
$907,411
$907.4K
Market Conditions
NOI Build-Up for 7,845 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
$127.1K $16.20/SF
− Vacancy
−$10.4K −$1.33/SF
EGI
$116.7K $14.87/SF
− OpEx
−$35.0K −$4.46/SF
NOI
$81.7K $10.41/SF
Area
ZIP 67212
Vacancy
8.20%
Lease Rate
$16.20 /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%
$1,633,340
Cap Rate 7%
$1,166,671
Cap Rate 9%
$907,411
Alternative Uses
Best Use
Retail
$1.17M
$1.02M – $1.36M
NOI $81,667 @ 7.0% cap · market cap 6.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $119,821 @ 7.0% cap · market cap 9.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,043
Businesses Nearby
19k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 72%
Hotels & Casinos 14%
Dining 14%
Family Dollar
Shops & Services
5,864 visits/mo
0.5 miles
Commerce Bank
Shops & Services
2,946 visits/mo
0.4 miles
Home2 Suites
Hotels & Casinos
2,679 visits/mo
0.3 miles
Pizza Hut
Dining
2,598 visits/mo
0.5 miles
Emprise Bank
Shops & Services
1,751 visits/mo
0.5 miles
Demographics for 67212, KS
43,587
Population
19,409
Households
2.2
Avg Household Size
39
Median Age
32%
College-Educated
93%
High-School Grad
12.5 sq mi
ZIP Area
3,487
Density / Sq Mi
$64,957
Median Household Income
$42,601
Median Earnings
$1,021
Median Rent
$189,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Retail center for sale, 7,845 square feet.
Where is this shopping center located?
The property is located at 10646 W Central 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: 7,845 SF Retail Center; Retail Center; Property is 7,845 SF
