Office Condo in Office
For Sale
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1223 North Rock Road, Wichita, KS 67206
Office condominium positioned within Polo Club Office Park for professional business use.
Property Size3,000 SF
Price / SF$233.33
Days on Market56
Property Features for 1223 North Rock Road
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Office
Building Details
Year Built
1981
Listing Agency:
Landmark Commercial Real Estate
Listed By:
Andrea Ray · License #00248575
(316) 262-2442
Source:
Crexi
Added: Aug 26
Changed: Oct 7
Last Checked: Oct 20 at 7:37PM
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 Landmark Commercial Real Estate
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Investment Insights
Based on property information with market context.
This office condominium is located within Polo Club Office Park and offers a dedicated commercial office setting. The property was built in 1981 and is identified as an office unit suitable for professional workspace.
Key Highlights
- Office condominium at Polo Club Office Park
- Built in 1981
- Located at 1223 North Rock Road, Wichita, KS 67206
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,297
Cap Rate
5.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$725,940
$725.9K
Cap Rate 7%
$518,529
$518.5K
Cap Rate 9%
$403,300
$403.3K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$60.1K $20.04/SF
− Vacancy
−$11.7K −$3.91/SF
EGI
$48.4K $16.13/SF
− OpEx
−$12.1K −$4.03/SF
NOI
$36.3K $12.10/SF
Area
Wichita, KS
Vacancy
19.50%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$725,940
Cap Rate 7%
$518,529
Cap Rate 9%
$403,300
Alternative Uses
Best Use
Office B
$518.5K
$453.7K – $605.0K
NOI $36,297 @ 7.0% cap · market cap 5.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$742.8K
$650.0K – $866.6K
NOI $51,997 @ 7.0% cap · market cap 7.43%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
762
Businesses Nearby
Explore this area
Business Placement
Demographics for 67206, KS
17,076
Population
8,310
Households
2.1
Avg Household Size
44
Median Age
64%
College-Educated
97%
High-School Grad
10.5 sq mi
ZIP Area
1,626
Density / Sq Mi
$85,442
Median Household Income
$58,671
Median Earnings
$1,186
Median Rent
$318,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Office condominium positioned within Polo Club Office Park for professional business use.
Where is this office unit located?
The property is located at 1223 North Rock Road Wichita, KS.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Office condominium at Polo Club Office Park; Built in 1981; Located at 1223 North Rock Road, Wichita, KS 67206
