Storefront Property with
For Sale
$599,000
1316 W Douglas Ave, Wichita, KS 67203
Built in 1937, the property offers central air, multiple utility connections, and paved driveway access.
Property Size3,448 SF
Price / SF$173.72
Days on Market651
Property Features for 1316 W Douglas Ave
General Information
Standard status
Active
Size
3,448 SF
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$3,492
Amenities
Central Air, Electric, Gas
3
Parking.
Parking Pad, Off Site, Paved Driveway, Lot.
Building Details
Year Built
1937
Buildings
2
Listing Agency:
Keller Williams Signature Partners, LLC
(316) 681-3600
Listed By:
Chi M McKanlam
Source:
Xome
Added: Nov 18, 2024
Changed: Aug 30
Last Checked: Aug 31 at 1:05PM
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 Keller Williams Signature Partners, LLC
Investment Insights
Based on property information with market context.
This storefront property at 1316 W Douglas Ave includes 3,448 square feet of space, central air, and electric and gas service. The improvements date to 1937, and the sale also includes the single-family residence immediately west of the commercial building at 1320 W. Douglass Ave.
The property is situated in Wichita’s Delano District, an established business area with shopping and entertainment uses. Parking features include a parking pad, paved driveway, lot parking, and off-site parking options.
The property is situated in Wichita’s Delano District, an established business area with shopping and entertainment uses. Parking features include a parking pad, paved driveway, lot parking, and off-site parking options.
Key Highlights
- 3,448‑square‑foot storefront property
- Sale includes the single‑family home at 1320 W. Douglass Ave.
- Central air with electric and gas service
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
$31,802
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
5.31%
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%
$636,040
$636.0K
Cap Rate 7%
$454,314
$454.3K
Cap Rate 9%
$353,356
$353.4K
Market Conditions
NOI Build-Up for 3,448 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
$49.7K $14.40/SF
− Vacancy
−$4.2K −$1.22/SF
EGI
$45.4K $13.18/SF
− OpEx
−$13.6K −$3.95/SF
NOI
$31.8K $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%
$636,040
Cap Rate 7%
$454,314
Cap Rate 9%
$353,356
Alternative Uses
Best Use
Retail
$454.3K
$397.5K – $530.0K
NOI $31,802 @ 7.0% cap · market cap 5.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$844.1K
$738.6K – $984.8K
NOI $59,085 @ 7.0% cap · market cap 9.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
825
Businesses Nearby
114k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 55%
Dining 45%
QuikTrip
Shops & Services
40,507 visits/mo
0.2 miles
McDonald's
Dining
24,556 visits/mo
0.3 miles
Braum's Ice Cream & Dairy Stores
Dining
21,126 visits/mo
0.2 miles
Dollar General
Shops & Services
8,837 visits/mo
0.1 miles
Family Dollar
Shops & Services
5,864 visits/mo
0.3 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?
Storefront property - Built in 1937, the property offers central air, multiple utility connections, and paved driveway access.
Where is this storefront property located?
The property is located at 1316 W Douglas Ave Wichita, KS.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 3,448‑square‑foot storefront property; Sale includes the single‑family home at 1320 W. Douglass Ave.; Central air with electric and gas service
