Flex Space with Gated
For Sale
Contact for pricing
1227 W Mccormick Ave, Wichita, KS 67213
Climate-controlled workspace includes an overhead door, office, and shop bathroom.
Property Size1,056 SF
Price / SF$150.57
Days on Market49
Property Features for 1227 W Mccormick Ave
General Information
Standard status
Active
Size
1,056 SF
Property subtype
INDUSTRIAL
Listing Agency:
InSite Real Estate Group, LLC
Listed By:
Levi J Iseman
(316) 618-1100
Source:
Moodyscre
Added: Sep 1
Changed: Sep 15
Last Checked: Oct 19 at 8:27AM
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
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Investment Insights
Based on property information with market context.
Located at 1227 W Mccormick Ave in Wichita, Kansas, this 1,056-square-foot flex space combines climate-controlled garage space with practical office and service areas. The building includes an 8 ft overhead door with an awning, a large office, and a shop bathroom.
A gated yard provides secured outdoor space associated with the property. The configuration offers a compact commercial facility with enclosed workspace, administrative area, and yard access in one location.
A gated yard provides secured outdoor space associated with the property. The configuration offers a compact commercial facility with enclosed workspace, administrative area, and yard access in one location.
Key Highlights
- 1,056 square feet of flex space
- Climate‑controlled garage area
- 8 ft overhead door with awning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,362
Cap Rate
5.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$167,240
$167.2K
Cap Rate 7%
$119,457
$119.5K
Cap Rate 9%
$92,911
$92.9K
Market Conditions
NOI Build-Up for 1,056 SF
Gross rent
$13.7K $12.96/SF
− Vacancy
−$821 −$0.78/SF
EGI
$12.9K $12.18/SF
− OpEx
−$4.5K −$4.26/SF
NOI
$8.4K $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 Rate 5%
$167,240
Cap Rate 7%
$119,457
Cap Rate 9%
$92,911
Alternative Uses
Best Use
Flex RnD
$119.5K
$104.5K – $139.4K
NOI $8,362 @ 7.0% cap · market cap 5.26%
Second Best
Industrial
$99.9K
$87.4K – $116.6K
NOI $6,994 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$261.5K
$228.8K – $305.1K
NOI $18,303 @ 7.0% cap · market cap 11.51%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
384
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 67213, KS
21,007
Population
9,788
Households
2.1
Avg Household Size
34
Median Age
13%
College-Educated
83%
High-School Grad
6.6 sq mi
ZIP Area
3,183
Density / Sq Mi
$48,015
Median Household Income
$32,186
Median Earnings
$920
Median Rent
$80,500
Median Home Value
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Market
Vacancy Rate% for Industrial in Midwest region
Similar Off Market Nearby
- Hot-2-Trot Gourmet Hotdogs Food Stand — Wichita, KS 67213
- Gabby's Peruvian Restaurant & Catering Services — 1002 s seneca st, wichita, ks 67213
Frequently Asked Questions
What type of property is this?
Flex space - Climate-controlled workspace includes an overhead door, office, and shop bathroom.
Where is this flex space located?
The property is located at 1227 W Mccormick Ave Wichita, KS.
What is the asking price?
The asking price for this property is $159,000.
What are key features of this property?
This property features: 1,056 square feet of flex space; Climate‑controlled garage area; 8 ft overhead door with awning
