Three-Tenant Strip
For Sale
Contact for pricing
Pending
1448 N Maize Rd, Wichita, KS 67212
Strip center with a dedicated entrance from Maize Rd, currently configured for three tenants.
Property Size7,500 SF
Days on Market159
Property Features for 1448 N Maize Rd
General Information
Standard status
Pending
Size
7,500 SF
Property subtype
Office, Retail
Zoning
Limited Commecial
Additional Details
Road Access
Yes
Building Details
Year Built
2000
Buildings
1
Stories
1
Listing Agency:
ReeceNichols South Central Kansas
Listed By:
Bradley Tidemann · License #KS SP00050970
(316) 650-8853
Source:
Crexi
Added: Mar 31
Changed: Aug 19
Last Checked: Aug 18 at 11:06AM
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 ReeceNichols South Central Kansas
Investment Insights
Based on property information with market context.
This strip center is designed to serve three tenants, with a layout that can be used as multi-tenant space. The property was most recently occupied as a single tenant, operating as a veterinary office with doggy day care, and can be converted back to separate suite occupancy.
Located near the heavily traveled intersection of Maize Rd. and 13th St., the center provides dedicated access from Maize Rd.
Constructed for a three-tenant configuration, the building offers straightforward flexibility for businesses seeking individual suite space within a single neighborhood retail/office setting.
Located near the heavily traveled intersection of Maize Rd. and 13th St., the center provides dedicated access from Maize Rd.
Constructed for a three-tenant configuration, the building offers straightforward flexibility for businesses seeking individual suite space within a single neighborhood retail/office setting.
Key Highlights
- Strip center built in 2000, currently configured for three tenants
- Dedicated entrance from Maize Rd
- Located near the intersection of Maize Rd and 13th St
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
$81,726
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
8.17%
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%
$1,634,520
$1.6M
Cap Rate 7%
$1,167,514
$1.2M
Cap Rate 9%
$908,067
$908.1K
Market Conditions
NOI Build-Up for 7,500 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
$130.5K $17.40/SF
− Vacancy
−$21.5K −$2.87/SF
EGI
$109.0K $14.53/SF
− OpEx
−$27.2K −$3.63/SF
NOI
$81.7K $10.90/SF
Area
ZIP 67212
Vacancy
16.50%
Lease Rate
$17.40 /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%
$1,634,520
Cap Rate 7%
$1,167,514
Cap Rate 9%
$908,067
Alternative Uses
Best Use
Office B
$1.17M
$1.02M – $1.36M
NOI $81,726 @ 7.0% cap · market cap 8.17%
Second Best
Retail
$1.12M
$976.0K – $1.30M
NOI $78,076 @ 7.0% cap · market cap 7.81%
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,552 @ 7.0% cap · market cap 11.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
162
Businesses Nearby
Explore this area
Business Placement
Demographics for 67212, KS
43,587
Population
19,409
Households
2.2
Avg Household Size
39
Median Age
32%
College-Educated
93%
High-School Grad
12.5 sq mi
ZIP Area
3,487
Density / Sq Mi
$64,957
Median Household Income
$42,601
Median Earnings
$1,021
Median Rent
$189,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Strip center with a dedicated entrance from Maize Rd, currently configured for three tenants.
Where is this strip mall located?
The property is located at 1448 N Maize Rd Wichita, KS.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Strip center built in 2000, currently configured for three tenants; Dedicated entrance from Maize Rd; Located near the intersection of Maize Rd and 13th St
