Building Details

Year Built 1999

Listing Agency: Landmark Commercial Real Estate Show Phone

Listed By: David M Leyh, CCIM SEC Show Phone

Source: Moodyscre

Added: Aug 20 Changed: Oct 2 Last Checked: Oct 14 at 11:15PM

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Investment Insights

Based on property information with market context.

Located at 2002 E Pawnee St in Wichita, Kansas, this commercial property contains a 1,500-square-foot building on a 14,450-square-foot lot. Constructed in 1999, the asset carries Limited Commercial zoning and is leased under an absolute net structure.

The property offers highway access to I-135, I-235, and I-35. The lease is associated with a 6.74% cap rate, while the 2025 property taxes are $8,041.70.

Key Highlights

• Absolute net lease structure
• 1,500 SF building on a 14,450 SF lot
• Built in 1999

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,334

Cap Rate

2.92%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$306,680 $306.7K

Cap Rate 7%

$219,057 $219.1K

Cap Rate 9%

$170,378 $170.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,500 SF

Gross rent

$23.9K $15.96/SF

− Vacancy

−$2.0K −$1.36/SF

EGI

$21.9K $14.60/SF

− OpEx

−$6.6K −$4.38/SF

NOI

$15.3K $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 Rate 5%

$306,680

Cap Rate 7%

$219,057

Cap Rate 9%

$170,378

Alternative Uses

Best Use

Retail

$219.1K

$191.7K – $255.6K (±1% cap)

NOI $15,334 @ 7.0% cap · market cap 2.92%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$371.4K

$325.0K – $433.3K (±1% cap)

NOI $25,998 @ 7.0% cap · market cap 4.95%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Loanmax Title Loans Loan Service

Suggested Use

Top Pick Real Estate Agency Law Firm Spa & Massage Center Restaurant Hair Salon Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

265

Businesses Nearby

27k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 67% Shops & Services 33%

Spangles Dining

7,760 visits/mo 0.1 miles

Burger King Dining

6,743 visits/mo 0.1 miles

AutoZone Shops & Services

4,557 visits/mo 0.2 miles

Pizza Hut Dining

3,489 visits/mo 0.1 miles

Dollar General Shops & Services

2,523 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

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

NNN property - An occupied commercial asset with an absolute net lease and Limited Commercial zoning.

Where is this nnn property located?

The property is located at 2002 E Pawnee St Wichita, KS.

What is the asking price?

The asking price for this property is $525,000.

What are key features of this property?

This property features: Absolute net lease structure; 1,500 SF building on a 14,450 SF lot; Built in 1999