First-Floor Storefront Office
For Sale
Contact for pricing
200 N Broadway Ave, Wichita, KS 67202
First-floor storefront suite with flexible layout options and private and guest parking in the historic Orpheum building.
Property Size2,337 SF
Price / SF$153
Days on Market215
Property Features for 200 N Broadway Ave
General Information
Standard status
Active
Size
2,337 SF
Property subtype
OFFICE
Listing Agency:
InSite Real Estate Group, LLC
(316) 618-1100
Listed By:
Alyson Goodwin · License #00249772
(316) 207-8940
Source:
Moodyscre
Added: Feb 9
Changed: Sep 7
Last Checked: Sep 12 at 11:14AM
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 InSite Real Estate Group, LLC
Investment Insights
Based on property information with market context.
Available for sale is a first-floor storefront office suite within the historic Orpheum at 200 N Broadway Ave in Wichita, KS. The offering is identified as Ste. D&E, totaling 2,337 SF, and is described as having a flexible suite layout with the ability to reconfigure.
The property is positioned as a high-visibility, street-level location, with convenient private and guest parking for clients and staff. The seller is also open to a combined suite sale package, including an option to combine Suites B–E.
This configuration is well suited for tenants or buyers looking for a street-level space in an owner-occupied style setup, supported by the described parking and adaptable interior layout.
The property is positioned as a high-visibility, street-level location, with convenient private and guest parking for clients and staff. The seller is also open to a combined suite sale package, including an option to combine Suites B–E.
This configuration is well suited for tenants or buyers looking for a street-level space in an owner-occupied style setup, supported by the described parking and adaptable interior layout.
Key Highlights
- Historic Orpheum building first‑floor Broadway storefront suite space
- Suite B: 1,579 SF priced at $199,000; Suite C: 1,024 SF priced at $200,000
- Suite D&E: 2,337 SF priced at $357,561; combined B–E package totals 4,940 SF for $749,000
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
$28,276
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
7.91%
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%
$565,520
$565.5K
Cap Rate 7%
$403,943
$403.9K
Cap Rate 9%
$314,178
$314.2K
Market Conditions
NOI Build-Up for 2,337 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
$46.8K $20.04/SF
− Vacancy
−$9.1K −$3.91/SF
EGI
$37.7K $16.13/SF
− OpEx
−$9.4K −$4.03/SF
NOI
$28.3K $12.10/SF
Area
Wichita, KS
Vacancy
19.50%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
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%
$565,520
Cap Rate 7%
$403,943
Cap Rate 9%
$314,178
Alternative Uses
Best Use
Office B
$403.9K
$353.5K – $471.3K
NOI $28,276 @ 7.0% cap · market cap 7.91%
Second Best
Retail
$341.3K
$298.6K – $398.2K
NOI $23,890 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$578.6K
$506.3K – $675.1K
NOI $40,505 @ 7.0% cap · market cap 11.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,722
Businesses Nearby
Explore this area
Business Placement
Demographics for 67202, KS
2,435
Population
1,778
Households
1.4
Avg Household Size
35
Median Age
53%
College-Educated
90%
High-School Grad
1.0 sq mi
ZIP Area
2,435
Density / Sq Mi
$67,892
Median Household Income
$41,160
Median Earnings
$1,039
Median Rent
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office units - First-floor storefront suite with flexible layout options and private and guest parking in the historic Orpheum building.
Where is this office units located?
The property is located at 200 N Broadway Ave Wichita, KS.
What is the asking price?
The asking price for this property is $357,561.
What are key features of this property?
This property features: Historic Orpheum building first‑floor Broadway storefront suite space; Suite B: 1,579 SF priced at $199,000; Suite C: 1,024 SF priced at $200,000; Suite D&E: 2,337 SF priced at $357,561; combined B–E package totals 4,940 SF for $749,000
