All-Brick Office
For Sale
$275,000
1251 Longfellow, Wichita, KS 67207
Functional professional workspace with private offices, reception, kitchenette, restrooms, and paved on-site parking.
Property Size1,512 SF
Price / SF$181.88
Days on Market8
Property Features for 1251 Longfellow
General Information
Standard status
Active
Size
1,512 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$4,464
Amenities
private offices
reception area
waiting room
kitchenette
bathrooms
Central Air, Electric
3
Parking.
Lot.
Building Details
Year Built
1983
Buildings
1
Construction
brick
Listing Agency:
(316) 247-1217
Listed By:
At Home Wichita Real Estate
(316) 312-0400
Source:
Xome
Added: Aug 26
Changed: Sep 2
Last Checked: Sep 2 at 3:34PM
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 At Home Wichita Real Estate
Investment Insights
Based on property information with market context.
This 1,512-square-foot office property is an all-brick building constructed in 1983. The interior is arranged for professional operations, with six private offices, a reception area, a waiting room, a kitchenette, and two bathrooms. Central air and electric service are included.
A paved parking lot provides on-site parking for clients and staff. The property is located at 1251 Longfellow in Wichita, near the Harry & Rock intersection, providing access to a central Wichita corridor. Its existing office configuration can accommodate team-based or client-facing operations without relying on a large open-plan layout.
A paved parking lot provides on-site parking for clients and staff. The property is located at 1251 Longfellow in Wichita, near the Harry & Rock intersection, providing access to a central Wichita corridor. Its existing office configuration can accommodate team-based or client-facing operations without relying on a large open-plan layout.
Key Highlights
- 1,512‑square‑foot all‑brick office building constructed in 1983
- Six private offices plus reception and waiting areas
- Kitchenette and two bathrooms included
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
$16,232
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
5.90%
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%
$324,640
$324.6K
Cap Rate 7%
$231,886
$231.9K
Cap Rate 9%
$180,356
$180.4K
Market Conditions
NOI Build-Up for 1,512 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
$25.8K $17.04/SF
− Vacancy
−$4.1K −$2.73/SF
EGI
$21.6K $14.31/SF
− OpEx
−$5.4K −$3.58/SF
NOI
$16.2K $10.74/SF
Area
ZIP 67207
Vacancy
16.00%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
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%
$324,640
Cap Rate 7%
$231,886
Cap Rate 9%
$180,356
Alternative Uses
Best Use
Office B
$231.9K
$202.9K – $270.5K
NOI $16,232 @ 7.0% cap · market cap 5.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$326.3K
$285.6K – $380.7K
NOI $22,844 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
475
Businesses Nearby
Explore this area
Business Placement
Demographics for 67207, KS
28,143
Population
12,755
Households
2.2
Avg Household Size
34
Median Age
29%
College-Educated
88%
High-School Grad
10.4 sq mi
ZIP Area
2,706
Density / Sq Mi
$66,400
Median Household Income
$39,070
Median Earnings
$961
Median Rent
$204,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Functional professional workspace with private offices, reception, kitchenette, restrooms, and paved on-site parking.
Where is this office building located?
The property is located at 1251 Longfellow Wichita, KS.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1,512‑square‑foot all‑brick office building constructed in 1983; Six private offices plus reception and waiting areas; Kitchenette and two bathrooms included
