South Washington Warehouse For
For Sale
$995,000
1302 S Washington Ave, Wichita, KS 67211
New shell construction with drive-thru doors and high visibility.
Property Size9,800 SF
Price / SF$101.53
Days on Market185
Property Features for 1302 S Washington Ave
General Information
Standard status
Active
Size
9,800 SF
Taxes and HOA fees
Annual Taxes
$2,677
Listing Agency:
Reece Nichols South Central Kansas
(316) 708-5960
Listed By:
Jake Steven · License #SP00050970
(316) 708-5960
Source:
Exprealty
Added: Feb 20
Changed: Aug 23
Last Checked: Aug 21 at 11:18PM
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 Reece Nichols South Central Kansas
Investment Insights
Based on property information with market context.
This property features new shell construction and is available for purchase or lease. It offers high visibility and includes drive-thru doors. The office and restroom areas are build-to-suit. The location provides close proximity to major arterial roads via Washington and Lincoln.
Key Highlights
- New shell construction completed in 2023
- Great visibility for your business
- Equipped with drive‑thru doors
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
$84,006
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
8.44%
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%
$1,680,120
$1.7M
Cap Rate 7%
$1,200,086
$1.2M
Cap Rate 9%
$933,400
$933.4K
Market Conditions
NOI Build-Up for 9,800 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
$103.5K $10.56/SF
− Vacancy
−$4.7K −$0.48/SF
EGI
$98.8K $10.08/SF
− OpEx
−$14.8K −$1.51/SF
NOI
$84.0K $8.57/SF
Area
Wichita, KS
Vacancy
4.50%
Lease Rate
$10.56 /SF/Yr
Expense Ratio
15.00%
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%
$1,680,120
Cap Rate 7%
$1,200,086
Cap Rate 9%
$933,400
Alternative Uses
Best Use
Warehouse
$1.20M
$1.05M – $1.40M
NOI $84,006 @ 7.0% cap · market cap 8.44%
Second Best
Industrial
$927.3K
$811.4K – $1.08M
NOI $64,909 @ 7.0% cap · market cap 6.52%
Theoretical Best
Office A
$2.43M
$2.12M – $2.83M
NOI $169,856 @ 7.0% cap · market cap 17.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,554
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 67211, KS
19,721
Population
9,568
Households
2.1
Avg Household Size
35
Median Age
14%
College-Educated
80%
High-School Grad
5.1 sq mi
ZIP Area
3,867
Density / Sq Mi
$44,003
Median Household Income
$31,335
Median Earnings
$841
Median Rent
$99,100
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Cargill Inc — 1401 N Mosley St, Wichita, KS 67214
- Self-Storage at U-Haul — 1000 E 13th St N, Wichita, KS 67214
- Hall Steel & Fabrication Inc — 1221 E Murdock St, Wichita, KS 67214
- Self Storage — 811 N Broadway, Wichita, KS 67214
Frequently Asked Questions
What type of property is this?
Warehouse - New shell construction with drive-thru doors and high visibility.
Where is this warehouse located?
The property is located at 1302 S Washington Ave Wichita, KS.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: New shell construction completed in 2023; Great visibility for your business; Equipped with drive‑thru doors
