Freestanding Auto Service
For Sale
$269,000
1930 S Broadway Ave, Wichita, KS 67211
The property combines garage, paint-shop, and detailing functions within one commercial facility.
Property Size2,327 SF
Price / SF$115.60
Days on Market368
Property Features for 1930 S Broadway Ave
General Information
Standard status
Active
Size
2,327 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$2,157
Amenities
Central Air, Electric
3
Parking.
Parking Pad, Parking Garage, Paved Driveway, Lot.
Building Details
Year Built
1980
Listing Agency:
Keller Williams Signature Partners, LLC
(316) 681-3600
Listed By:
Chi M McKanlam
Source:
Xome
Added: Aug 29, 2025
Changed: Aug 29
Last Checked: Aug 30 at 3:07PM
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 Keller Williams Signature Partners, LLC
Investment Insights
Based on property information with market context.
This 2,327-square-foot automotive property includes a service garage, paint shop, and detailing operation in a freestanding building. Constructed in 1980, the facility has central air and electric service, with a paved driveway and multiple parking components that include a parking pad and parking garage.
The property is located at 1930 S Broadway Ave in Wichita, Kansas. Its existing automotive-oriented configuration supports continued use as a service, paint, or detailing facility, subject to applicable requirements.
The property is located at 1930 S Broadway Ave in Wichita, Kansas. Its existing automotive-oriented configuration supports continued use as a service, paint, or detailing facility, subject to applicable requirements.
Key Highlights
- 2,327‑square‑foot freestanding automotive property
- Configured for service garage, paint shop, and detailing uses
- Central air and electric service
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
$23,787
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
8.84%
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%
$475,740
$475.7K
Cap Rate 7%
$339,814
$339.8K
Cap Rate 9%
$264,300
$264.3K
Market Conditions
NOI Build-Up for 2,327 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
$37.1K $15.96/SF
− Vacancy
−$3.2K −$1.36/SF
EGI
$34.0K $14.60/SF
− OpEx
−$10.2K −$4.38/SF
NOI
$23.8K $10.22/SF
Area
Wichita, KS
Vacancy
8.50%
Lease Rate
$15.96 /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%
$475,740
Cap Rate 7%
$339,814
Cap Rate 9%
$264,300
Alternative Uses
Best Use
Retail
$339.8K
$297.3K – $396.5K
NOI $23,787 @ 7.0% cap · market cap 8.84%
Second Best
Industrial
$220.2K
$192.7K – $256.9K
NOI $15,413 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$576.2K
$504.2K – $672.2K
NOI $40,332 @ 7.0% cap · market cap 14.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
484
Businesses Nearby
21k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
QuikTrip
Shops & Services
20,865 visits/mo
0.2 miles
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 Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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- Tony's Auto Shop — 1903 Washington S, Wichita, KS 67211, United States
- Chris's Mobile Auto Service — 1905 S Lulu St, Wichita, KS 67211
Frequently Asked Questions
What type of property is this?
Auto shop - The property combines garage, paint-shop, and detailing functions within one commercial facility.
Where is this auto shop located?
The property is located at 1930 S Broadway Ave Wichita, KS.
What is the asking price?
The asking price for this property is $269,000.
What are key features of this property?
This property features: 2,327‑square‑foot freestanding automotive property; Configured for service garage, paint shop, and detailing uses; Central air and electric service
