Industrial Flex Warehouse For
For Sale
Contact for pricing
110 West 29th St N, Wichita, KS 67204
Industrial flex/warehouse with updated systems and secure storage yard.
Property Size3,280 SF
Price / SF$91.16
Days on Market181
Property Features for 110 West 29th St N
General Information
Standard status
Active
Size
3,280 SF
Class
C
Property subtype
Industrial, Mixed Use
Zoning
GC
Building Details
Year Built
1951
Buildings
1
Stories
1
Units
1
Listing Agency:
J.P. Weigand & Sons Inc.
(913) 707-8992
Listed By:
Matthew McClure · License #00246245
Source:
Crexi
Added: Feb 11
Changed: Aug 8
Last Checked: Aug 8 at 2:41PM
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 J.P. Weigand & Sons Inc.
Investment Insights
Based on property information with market context.
This industrial flex/warehouse property is configured to suit both owner-users and investors. It features three overhead doors, facilitating access and drive-in operations. The property includes office space and a bathroom equipped with a shower, providing functional shop amenities. Updated systems include new paint, garage doors, and updated sewer, electrical, and lighting. A fenced outside storage yard offers secure outdoor space for equipment or materials. The property size is 3280 square feet.
Key Highlights
- Industrial flex / warehouse configuration ideal for owner‑users or investors.
- Three overhead doors for ease of access and drive‑in operations.
- Fenced outside storage yard provides secure outdoor space.
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
$25,973
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
8.69%
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%
$519,460
$519.5K
Cap Rate 7%
$371,043
$371.0K
Cap Rate 9%
$288,589
$288.6K
Market Conditions
NOI Build-Up for 3,280 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
$42.5K $12.96/SF
− Vacancy
−$2.6K −$0.78/SF
EGI
$40.0K $12.18/SF
− OpEx
−$14.0K −$4.26/SF
NOI
$26.0K $7.92/SF
Area
Wichita, KS
Vacancy
6.00%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
35.00%
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%
$519,460
Cap Rate 7%
$371,043
Cap Rate 9%
$288,589
Alternative Uses
Best Use
Warehouse
$401.7K
$351.5K – $468.6K
NOI $28,116 @ 7.0% cap · market cap 9.40%
Second Best
Flex RnD
$371.0K
$324.7K – $432.9K
NOI $25,973 @ 7.0% cap · market cap 8.69%
Theoretical Best
Office A
$812.1K
$710.6K – $947.5K
NOI $56,850 @ 7.0% cap · market cap 19.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
188
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 67204, KS
21,932
Population
9,424
Households
2.3
Avg Household Size
38
Median Age
24%
College-Educated
79%
High-School Grad
16.1 sq mi
ZIP Area
1,362
Density / Sq Mi
$68,549
Median Household Income
$39,258
Median Earnings
$976
Median Rent
$148,900
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?
Flex space - Industrial flex/warehouse with updated systems and secure storage yard.
Where is this flex space located?
The property is located at 110 West 29th St N Wichita, KS.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Industrial flex / warehouse configuration ideal for owner‑users or investors.; Three overhead doors for ease of access and drive‑in operations.; Fenced outside storage yard provides secure outdoor space.
