Three-Tenant Strip
For Sale
Contact for pricing
1448 N Maize Rd, Wichita, KS 67212
Dedicated Maize Rd. entrance serves a multi-suite retail configuration near Maize Rd. and 13th St.
Property Size7,500 SF
Price / SF$133.33
Days on Market134
Property Features for 1448 N Maize Rd
General Information
Standard status
Active
Size
7,500 SF
Property subtype
OFFICE
Additional Details
Road Access
Yes
Office Units
3
Building Details
Tenancy
Multi
Listing Agency:
Reece Nichols South Central Kansas
(316) 650-8853
Listed By:
Bradley Tidemann, SIOR
(316) 650-8853
Source:
Moodyscre
Added: Mar 31
Changed: Aug 8
Last Checked: Aug 8 at 7:38PM
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 7,500-square-foot strip mall was constructed for three tenants and is configured as three suites. The property was formerly occupied by a single veterinary office user that operated doggy day care, providing an established commercial layout with prior service-oriented use.
A dedicated entrance from Maize Rd. provides direct access to the center, which is situated near the intersection of Maize Rd. and 13th St. The three-suite design supports the property’s original multi-tenant configuration and offers flexibility for retail or other commercial occupancy subject to applicable requirements.
A dedicated entrance from Maize Rd. provides direct access to the center, which is situated near the intersection of Maize Rd. and 13th St. The three-suite design supports the property’s original multi-tenant configuration and offers flexibility for retail or other commercial occupancy subject to applicable requirements.
Key Highlights
- 7,500‑square‑foot strip mall constructed for three tenants
- Three‑suite configuration designed for multi‑tenant occupancy
- Dedicated entrance from Maize Rd.
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
Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
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 - Dedicated Maize Rd. entrance serves a multi-suite retail configuration near Maize Rd. and 13th St.
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: 7,500‑square‑foot strip mall constructed for three tenants; Three‑suite configuration designed for multi‑tenant occupancy; Dedicated entrance from Maize Rd.
