Clear-Span Building with
For Sale
Contact for pricing
126 N St Francis Ave, Wichita, KS
Flexible office building featuring clear-span construction and private parking.
Property Size14,000 SF
Lot Size0.24 Acres
Price / SF$178.57
Days on Market273
Property Features for 126 N St Francis Ave
General Information
Standard status
Active
Size
14,000 SF
Lot size
0.24 Acres
Property subtype
RETAIL
Lease Type
NNN
Properties For Sale
at 126 N St Francis Ave Contact us- Floor
- 1-2
- Size
- 14,000 SF
- Type
- RETAIL
- Lease Type
- NNN
- Availability
- AVAILABLE, Now
Downtown Opportunity to Own your Office
126 N St Francis is a redevelopment
opportunity located in the core of
downtown Wichita.
With...
show more
Contact us
- Size
- 14,000 SF
- Type
- OFFICE
- Lease Type
- NNN
- Availability
- AVAILABLE
126 N. St. Francis
Stately building boasting clear-span construction and presenting flexible repurposing...
show more
Contact us
Listing Agency:
Commercial Collective, LLC
(316) 461-9206
Listed By:
Stephanie Wise
(316) 461-9206
Source:
Moodyscre
Added: Nov 20, 2025
Changed: Aug 20
Last Checked: Aug 20 at 11:29AM
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 Commercial Collective, LLC
Investment Insights
Based on property information with market context.
This stately building offers clear-span construction and flexible repurposing options. A rare feature is the inclusion of adjacent, private parking. The property showcases a beautiful “Bow Truss” roof structure, providing a coveted architectural element that complements the brick walls and timeless wood flooring. The property has a size of 14000 square feet.
Key Highlights
- Stately building.
- Rare, adjacent, private parking included.
- Beautiful “Bow Truss” roof structure (coveted architectural element).
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
$169,388
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
6.78%
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%
$3,387,760
$3.4M
Cap Rate 7%
$2,419,829
$2.4M
Cap Rate 9%
$1,882,089
$1.9M
Market Conditions
NOI Build-Up for 14,000 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
$280.6K $20.04/SF
− Vacancy
−$54.7K −$3.91/SF
EGI
$225.9K $16.13/SF
− OpEx
−$56.5K −$4.03/SF
NOI
$169.4K $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 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%
$3,387,760
Cap Rate 7%
$2,419,829
Cap Rate 9%
$1,882,089
Alternative Uses
Best Use
Office B
$2.42M
$2.12M – $2.82M
NOI $169,388 @ 7.0% cap · market cap 6.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.47M
$3.03M – $4.04M
NOI $242,651 @ 7.0% cap · market cap 9.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,325
Businesses Nearby
Explore this area
Business Placement
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 - Flexible office building featuring clear-span construction and private parking.
Where is this office building located?
The property is located at 126 N St Francis Ave Wichita, KS.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Stately building.; Rare, adjacent, private parking included.; Beautiful “Bow Truss” roof structure (coveted architectural element).
