Industrial Investment with Secured
For Sale
Contact for pricing
1822 S Mead, Wichita, KS 67211
Single-tenant industrial property with three buildings, six overhead doors, and secured yard for storage and parking needs.
Property Size7,710 SF
Lot Size1.21 Acres
Price / SF$82.36
Days on Market49
Property Features for 1822 S Mead
General Information
Standard status
Active
Size
7,710 SF
Class
C
Lot size
1.21 Acres
Property subtype
Industrial, Mixed Use, Land
Zoning
Limited Industrial
Lease Type
Absolute Net
Investment Type
Net Lease
Additional Details
Cap Rate
8.5%
Fenced Yard
Yes
Drive-In Doors
6
Building Details
Year Built
1965
Buildings
3
Tenancy
Single
Listing Agency:
Petra LLC
Listed By:
Hunter LaMunyon, CCIM · License #00246436
Source:
Crexi
Added: Jul 6
Changed: Aug 9
Last Checked: Aug 22 at 1:09PM
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 Petra LLC
Investment Insights
Based on property information with market context.
PETRA is pleased to present 1822 S Mead, a single-tenant absolute net lease industrial investment in Wichita’s established central industrial corridor. The property includes approximately 7,710 total square feet across three industrial buildings, set on a four-parcel package totaling approximately 1.212 acres.
The industrial layout supports warehouse, storage, assembly, and light office utility, complemented by six overhead doors and secured yard space. The additional land is included to support outdoor storage, equipment parking, vehicle parking, or future expansion potential.
Overall, the property is configured for practical small-bay industrial use where in-place income and functional on-site operations are important considerations.
The industrial layout supports warehouse, storage, assembly, and light office utility, complemented by six overhead doors and secured yard space. The additional land is included to support outdoor storage, equipment parking, vehicle parking, or future expansion potential.
Overall, the property is configured for practical small-bay industrial use where in-place income and functional on-site operations are important considerations.
Key Highlights
- Single‑tenant absolute net lease industrial investment with three buildings totaling approx. 7,710 SF
- Six overhead doors plus warehouse, storage, assembly, and light office utility areas
- Secured yard space for outdoor storage and equipment/vehicle parking
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
$51,066
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
8.04%
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%
$1,021,320
$1.0M
Cap Rate 7%
$729,514
$729.5K
Cap Rate 9%
$567,400
$567.4K
Market Conditions
NOI Build-Up for 7,710 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
$76.8K $9.96/SF
− Vacancy
−$3.8K −$0.50/SF
EGI
$73.0K $9.46/SF
− OpEx
−$21.9K −$2.84/SF
NOI
$51.1K $6.62/SF
Area
Wichita, KS
Vacancy
5.00%
Lease Rate
$9.96 /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%
$1,021,320
Cap Rate 7%
$729,514
Cap Rate 9%
$567,400
Alternative Uses
Best Use
Warehouse
$944.2K
$826.1K – $1.10M
NOI $66,091 @ 7.0% cap · market cap 10.41%
Second Best
Flex RnD
$872.2K
$763.2K – $1.02M
NOI $61,052 @ 7.0% cap · market cap 9.61%
Theoretical Best
Office A
$1.91M
$1.67M – $2.23M
NOI $133,631 @ 7.0% cap · market cap 21.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,367
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 Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Single-tenant industrial property with three buildings, six overhead doors, and secured yard for storage and parking needs.
Where is this flex space located?
The property is located at 1822 S Mead Wichita, KS.
What is the asking price?
The asking price for this property is $635,000.
What are key features of this property?
This property features: Single‑tenant absolute net lease industrial investment with three buildings totaling approx. 7,710 SF; Six overhead doors plus warehouse, storage, assembly, and light office utility areas; Secured yard space for outdoor storage and equipment/vehicle parking
