Self Storage Condominium
For Sale
$165,000
Pending
1532 E Mason Dr Unit A 104, Kechi, KS 67067
Commercial Sale, Kechi, KS
Property Size1,500 SF
Lot Size1.56 Acres
Days on Market380
Property Features for 1532 E Mason Dr Unit A 104
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Community Unit
Parking features
Garage
Directions
From Hwy 254 & Woodlawn, N to Tigua St, S to Mason Dr
Subdivision
SCKMLS
Standard status
Pending
APN
103-07-0-33-03-002.00
Lot size
1.56 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Long Legal See Exhibit A in Property Information Packet
Tax Annual Amount
2716
Legal Description
Long Legal See Exhibit A in Property Information Packet
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Water source
Public
Amenities
paved entry
gated entrance with access codes
24/7 camera monitoring
exterior timed lighting
Building Details
Year built
2023
Floors in Building
1
Flooring type
Concrete
Building materials
Metal Siding
Roof type
Metal
Listing Agency:
McCurdy Real Estate & Auction, LLC
(316) 867-3600
Listed By:
Braden McCurdy · License #BR00052737
(316) 683-0612
Added: Aug 29, 2025
Changed: Sep 9
Last Checked: Sep 12 at 10:06PM
MLS# 661037
Copyright © 2026 South Central Kansas MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This self storage condominium unit was built in 2023 and provides 1,500 square feet in a 25 X 60 configuration. The space has a concrete floor, tilted ceilings that allow for mezzanine construction, LED lighting, a 14ft x16ft automatic overhead door, and a 50ft driveway. Dedicated 220-volt power is supplied through a 100 Amp service panel. Units A103 and A108 have half bathrooms; this offering is identified as Unit A104.
Access features include a paved entry from Woodlawn, a gated entrance with access codes, 24/7 camera monitoring, and timed exterior lighting. The property has public water and public sewer, with electricity available, and is zoned Community Unit. An adjacent 1.7+/- acre industrial lot is also offered separately, subject to survey.
Access features include a paved entry from Woodlawn, a gated entrance with access codes, 24/7 camera monitoring, and timed exterior lighting. The property has public water and public sewer, with electricity available, and is zoned Community Unit. An adjacent 1.7+/- acre industrial lot is also offered separately, subject to survey.
Key Highlights
- Built in 2023 with 1,500 sq ft of interior space
- 25 X 60 unit with a 14ft x16ft automatic overhead door
- Dedicated 220 volts and 100 Amp electrical service panel
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
$12,890
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
7.81%
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%
$257,800
$257.8K
Cap Rate 7%
$184,143
$184.1K
Cap Rate 9%
$143,222
$143.2K
Market Conditions
NOI Build-Up for 1,500 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
$19.8K $13.20/SF
− Vacancy
−$1.4K −$0.92/SF
EGI
$18.4K $12.28/SF
− OpEx
−$5.5K −$3.68/SF
NOI
$12.9K $8.59/SF
Area
Sedgwick County, KS
Vacancy
7.00%
Lease Rate
$13.20 /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%
$257,800
Cap Rate 7%
$184,143
Cap Rate 9%
$143,222
Alternative Uses
Best Use
Self Storage
$184.1K
$161.1K – $214.8K
NOI $12,890 @ 7.0% cap · market cap 7.81%
Second Best
Warehouse
$133.4K
$116.7K – $155.6K
NOI $9,338 @ 7.0% cap · market cap 5.66%
Theoretical Best
Office A
$312.6K
$273.6K – $364.8K
NOI $21,885 @ 7.0% cap · market cap 13.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
50
Businesses Nearby
Explore this area
Business Placement
Demographics for 67067, KS
1,831
Population
862
Households
2.1
Avg Household Size
40
Median Age
52%
College-Educated
96%
High-School Grad
4.7 sq mi
ZIP Area
390
Density / Sq Mi
$98,750
Median Household Income
$55,568
Median Earnings
$1,610
Median Rent
$239,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Gated access, camera monitoring, dedicated electrical service, and flexible interior space support storage or customized occupancy.
Where is this self storage facility located?
The property is located at 1532 E Mason Dr Unit A 104 Kechi, KS.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Built in 2023 with 1,500 sq ft of interior space; 25 X 60 unit with a 14ft x16ft automatic overhead door; Dedicated 220 volts and 100 Amp electrical service panel
