Office Flex Property with Fenced
For Sale
$210,000
1610 South Emporia Street, Wichita, KS 67211
Two-building flex property with climate-controlled office and warehouse areas plus a secured outdoor yard.
Property Size2,440 SF
Days on Market8
Property Features for 1610 South Emporia Street
General Information
Standard status
Active
Size
2,440 SF
Property subtype
Industrial
Zoning
LC
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Conditioned Warehouse
Yes
Building Details
Building Size
2,440 SF
Year Built
1946
Buildings
2
Listing Agency:
J.P. Weigand & Sons, Inc.
(316) 292-3902
Listed By:
Austin Swisher, CCIM · License #00240314
Source:
Weigand
Added: Aug 24
Changed: Aug 30
Last Checked: Aug 30 at 8:18PM
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 J.P. Weigand & Sons, Inc.
Investment Insights
Based on property information with market context.
This flex property includes two separate buildings with climate-controlled office and warehouse areas. The site also provides a fully fenced yard surfaced with concrete and gravel, supporting a combination of indoor workspace and outdoor storage or operational needs. Built in 1946, the property is zoned LC and suited to an owner-user or investment-oriented acquisition.
Located on South Emporia Street in Wichita, the property offers highway access and a configuration that combines office, warehouse, and secured yard components in one location.
Located on South Emporia Street in Wichita, the property offers highway access and a configuration that combines office, warehouse, and secured yard components in one location.
Key Highlights
- Two separate buildings
- Climate‑controlled office and warehouse areas
- Fully fenced concrete and gravel yard
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
$19,321
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
9.20%
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%
$386,420
$386.4K
Cap Rate 7%
$276,014
$276.0K
Cap Rate 9%
$214,678
$214.7K
Market Conditions
NOI Build-Up for 2,440 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
$31.6K $12.96/SF
− Vacancy
−$1.9K −$0.78/SF
EGI
$29.7K $12.18/SF
− OpEx
−$10.4K −$4.26/SF
NOI
$19.3K $7.92/SF
Area
Wichita, KS
Vacancy
6.00%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
35.00%
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%
$386,420
Cap Rate 7%
$276,014
Cap Rate 9%
$214,678
Alternative Uses
Best Use
Office B
$421.7K
$369.0K – $492.0K
NOI $29,522 @ 7.0% cap · market cap 14.06%
Second Best
Warehouse
$298.8K
$261.5K – $348.6K
NOI $20,916 @ 7.0% cap · market cap 9.96%
Theoretical Best
Office A
$604.2K
$528.6K – $704.9K
NOI $42,291 @ 7.0% cap · market cap 20.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
585
Businesses Nearby
Under-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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two-building flex property with climate-controlled office and warehouse areas plus a secured outdoor yard.
Where is this flex space located?
The property is located at 1610 South Emporia Street Wichita, KS.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Two separate buildings; Climate‑controlled office and warehouse areas; Fully fenced concrete and gravel yard
