93% Occupied Strip
For Sale
Contact for pricing
2110 N Maize Rd., Wichita, KS 67205
Strip center with 93% occupancy and key tenants including Jacob Liquor, AAA, and Papa Murphys.
Property Size12,887 SF
Price / SF$256.07
Days on Market214
Property Features for 2110 N Maize Rd.
General Information
Standard status
Active
Size
12,887 SF
Property subtype
RETAIL
Occupancy
93%
Listing Agency:
NAI Martens
(316) 262-0000
Listed By:
Patrick Ahern · License #SP00052327
(316) 253-0660
Source:
Moodyscre
Added: Feb 10
Changed: Aug 14
Last Checked: Sep 12 at 9:13AM
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.
This 12,887 SF strip center is currently 93% occupied and provides a diversified retail mix anchored by tenants including Jacob Liquor, AAA, and Papa Murphys.
The property is located at 2110 N. Maize Rd. in Wichita, KS. The listing is for sale, and financial information is available upon request.
The property is located at 2110 N. Maize Rd. in Wichita, KS. The listing is for sale, and financial information is available upon request.
Key Highlights
- 12,887 SF strip center
- Currently 93% occupancy
- Key tenants include Jacob Liquor, AAA, and Papa Murphys
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
$111,336
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
3.37%
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%
$2,226,720
$2.2M
Cap Rate 7%
$1,590,514
$1.6M
Cap Rate 9%
$1,237,067
$1.2M
Market Conditions
NOI Build-Up for 12,887 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
$170.1K $13.20/SF
− Vacancy
−$11.1K −$0.86/SF
EGI
$159.1K $12.34/SF
− OpEx
−$47.7K −$3.70/SF
NOI
$111.3K $8.64/SF
Area
ZIP 67205
Vacancy
6.50%
Lease Rate
$13.20 /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%
$2,226,720
Cap Rate 7%
$1,590,514
Cap Rate 9%
$1,237,067
Alternative Uses
Best Use
Retail
$1.59M
$1.39M – $1.86M
NOI $111,336 @ 7.0% cap · market cap 3.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.74M
$2.39M – $3.19M
NOI $191,511 @ 7.0% cap · market cap 5.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
93%
Occupancy
Location Intelligence
Trade Area within ½ mile
435
Businesses Nearby
498k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 31%
Superstores 28%
Apparel 16%
Groceries 13%
Walmart
Superstores
139,675 visits/mo
0.4 miles
Dillons
Groceries
64,734 visits/mo
0.2 miles
Marshalls
Apparel
44,168 visits/mo
0.4 miles
Chick-fil-A
Dining
43,167 visits/mo
0.2 miles
Shoe Carnival
Apparel
35,077 visits/mo
0.5 miles
Demographics for 67205, KS
20,461
Population
7,467
Households
2.7
Avg Household Size
40
Median Age
50%
College-Educated
98%
High-School Grad
16.9 sq mi
ZIP Area
1,211
Density / Sq Mi
$120,630
Median Household Income
$65,457
Median Earnings
$1,237
Median Rent
$314,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Strip center with 93% occupancy and key tenants including Jacob Liquor, AAA, and Papa Murphys.
Where is this strip mall located?
The property is located at 2110 N Maize Rd. Wichita, KS.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: 12,887 SF strip center; Currently 93% occupancy; Key tenants include Jacob Liquor, AAA, and Papa Murphys
