For-Sale Retail
For Sale
$595,000
718 W Douglas Ave, Wichita, KS 67203
Retail property for sale on W Douglas Ave, suited for buyers seeking a street-accessible retail location.
Property Size3,874 SF
Days on Market70
Property Features for 718 W Douglas Ave
General Information
Standard status
Active
Size
3,874 SF
Property subtype
Retail
Building Details
Building Size
3,874 SF
Year Built
1948
Listed By:
Grant Glasgow, SIOR
(316) 847-4908
Source:
Naimartens
Added: Jun 30
Changed: Sep 4
Last Checked: Sep 7 at 7:00AM
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 Grant Glasgow, SIOR
Investment Insights
Based on property information with market context.
This for-sale retail property is located at 718 W Douglas Ave in Wichita, Kansas 67203. Based on the information provided, specific building size, unit configuration, frontage, and condition details have not been disclosed, so prospective buyers should plan to review available offering materials or perform site verification during due diligence.
The property’s address indicates it fronts W Douglas Ave, providing direct street access appropriate for a range of retail uses that benefit from walk-up and drive-by visibility. Beyond the street-front location, no additional facts about neighboring businesses, signage, parking, or traffic patterns were included in the provided data.
For buyers and retail operators evaluating this opportunity, the asset can serve as a candidate for a retail-oriented tenancy, provided the final details align with the intended use. Because the listing data does not specify current occupancy, lease terms, or property improvements, investors and owner-users should confirm zoning and permitted uses, along with the building’s functional layout and any needed updates, before making a decision.
The property’s address indicates it fronts W Douglas Ave, providing direct street access appropriate for a range of retail uses that benefit from walk-up and drive-by visibility. Beyond the street-front location, no additional facts about neighboring businesses, signage, parking, or traffic patterns were included in the provided data.
For buyers and retail operators evaluating this opportunity, the asset can serve as a candidate for a retail-oriented tenancy, provided the final details align with the intended use. Because the listing data does not specify current occupancy, lease terms, or property improvements, investors and owner-users should confirm zoning and permitted uses, along with the building’s functional layout and any needed updates, before making a decision.
Key Highlights
- Retail property built in 1948
- Street‑accessible retail location on W Douglas Ave
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
$35,731
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
6.01%
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%
$714,620
$714.6K
Cap Rate 7%
$510,443
$510.4K
Cap Rate 9%
$397,011
$397.0K
Market Conditions
NOI Build-Up for 3,874 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
$55.8K $14.40/SF
− Vacancy
−$4.7K −$1.22/SF
EGI
$51.0K $13.18/SF
− OpEx
−$15.3K −$3.95/SF
NOI
$35.7K $9.22/SF
Area
ZIP 67203
Vacancy
8.50%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$714,620
Cap Rate 7%
$510,443
Cap Rate 9%
$397,011
Alternative Uses
Best Use
Retail
$510.4K
$446.6K – $595.5K
NOI $35,731 @ 7.0% cap · market cap 6.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$948.4K
$829.8K – $1.11M
NOI $66,385 @ 7.0% cap · market cap 11.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,032
Businesses Nearby
118k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 54%
Dining 43%
Hotels & Casinos 2%
QuikTrip
Shops & Services
40,507 visits/mo
0.3 miles
McDonald's
Dining
24,556 visits/mo
0.3 miles
Braum's Ice Cream & Dairy Stores
Dining
21,126 visits/mo
0.3 miles
Dollar General
Shops & Services
8,837 visits/mo
0.4 miles
Family Dollar
Shops & Services
5,864 visits/mo
0.4 miles
Demographics for 67203, KS
30,498
Population
14,851
Households
2.1
Avg Household Size
37
Median Age
25%
College-Educated
83%
High-School Grad
7.2 sq mi
ZIP Area
4,236
Density / Sq Mi
$50,411
Median Household Income
$33,431
Median Earnings
$921
Median Rent
$126,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail property for sale on W Douglas Ave, suited for buyers seeking a street-accessible retail location.
Where is this retail space located?
The property is located at 718 W Douglas Ave Wichita, KS.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Retail property built in 1948; Street‑accessible retail location on W Douglas Ave
