Two-Suite Flex
For Sale
Contact for pricing
1919 W Central Ave, El Dorado, KS 67042
Office and warehouse components are arranged across two suites.
Property Size4,700 SF
Price / SF$88.30
Days on Market147
Property Features for 1919 W Central Ave
General Information
Standard status
Active
Size
4,700 SF
Property subtype
Industrial, Mixed Use, Office
Lease Type
Modified Gross
Warehouse & Industrial
Warehouse Space
3,200 SF
Office Build-Out
1,500 SF
Amenities
Monument Signage
Building Details
Year Built
2002
Buildings
1
Stories
1
Building Size
4,700 SF
Listing Agency:
NAI Martens
(316) 613-2449
Listed By:
Trevor Stacy, CCIM · License #00244816
Source:
Crexi
Added: Apr 7
Changed: Aug 29
Last Checked: Aug 29 at 11:33PM
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 NAI Martens
Investment Insights
Based on property information with market context.
Constructed in 2002, this flex property at 1919 W Central Ave combines dedicated office improvements with warehouse capacity. The office portion contains 1,500 SF with six offices, a conference room, break room, kitchenette, work room, and reception area. The warehouse adds 3,200 SF and includes two overhead doors measuring 12x10 and 8x10. Monument signage is also in place.
The two-suite configuration creates flexibility for multi-tenant occupancy or an owner-user arrangement. The property is positioned along a commercial corridor in El Dorado, Kansas, within the Wichita MSA, with a layout suited to office, service, and warehouse operations.
The two-suite configuration creates flexibility for multi-tenant occupancy or an owner-user arrangement. The property is positioned along a commercial corridor in El Dorado, Kansas, within the Wichita MSA, with a layout suited to office, service, and warehouse operations.
Key Highlights
- 1,500 SF office area with six offices, conference room, break room, kitchenette, work room, and reception
- 3,200 SF warehouse with two overhead doors measuring 12x10 and 8x10
- Two‑suite configuration supports multi‑tenant or owner‑user use
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
$34,460
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
8.30%
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%
$689,200
$689.2K
Cap Rate 7%
$492,286
$492.3K
Cap Rate 9%
$382,889
$382.9K
Market Conditions
NOI Build-Up for 4,700 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
$56.4K $12.00/SF
− Vacancy
−$3.4K −$0.72/SF
EGI
$53.0K $11.28/SF
− OpEx
−$18.6K −$3.95/SF
NOI
$34.5K $7.33/SF
Area
Butler County, KS
Vacancy
6.00%
Lease Rate
$12.00 /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%
$689,200
Cap Rate 7%
$492,286
Cap Rate 9%
$382,889
Alternative Uses
Best Use
Office B
$710.6K
$621.8K – $829.1K
NOI $49,745 @ 7.0% cap · market cap 11.99%
Second Best
Flex RnD
$492.3K
$430.8K – $574.3K
NOI $34,460 @ 7.0% cap · market cap 8.30%
Theoretical Best
Office A
$997.8K
$873.1K – $1.16M
NOI $69,846 @ 7.0% cap · market cap 16.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
360
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 67042, KS
17,458
Population
7,342
Households
2.4
Avg Household Size
38
Median Age
24%
College-Educated
91%
High-School Grad
258.2 sq mi
ZIP Area
68
Density / Sq Mi
$56,633
Median Household Income
$37,251
Median Earnings
$868
Median Rent
$133,400
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 - Office and warehouse components are arranged across two suites.
Where is this flex space located?
The property is located at 1919 W Central Ave El Dorado, KS.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: 1,500 SF office area with six offices, conference room, break room, kitchenette, work room, and reception; 3,200 SF warehouse with two overhead doors measuring 12x10 and 8x10; Two‑suite configuration supports multi‑tenant or owner‑user use
