Two-Unit Retail
For Sale
Contact for pricing
2202 E CENTRAL AVE, Wichita, KS 67214
For-sale retail building with two units totaling 2,500 SF.
Property Size2,500 SF
Price / SF$120
Days on Market92
Property Features for 2202 E CENTRAL AVE
General Information
Standard status
Active
Size
2,500 SF
Total Parking Spaces
7
Property subtype
Retail, Office, Industrial
Zoning
LC
Building Details
Year Renovated
2024
Buildings
1
Stories
1
Units
2
Listing Agency:
Moeder & Associates
Listed By:
Michael Moeder · License #KS 00248374
(316) 264-8530
Source:
Crexi
Added: Jun 4
Changed: Aug 14
Last Checked: Sep 1 at 6:23PM
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 Moeder & Associates
Investment Insights
Based on property information with market context.
This for-sale retail property is configured as two separate units within one building, providing space for multiple tenants or flexible occupancy. The offering totals 2,500 SF of retail area, suitable for businesses that need dedicated storefront space and the ability to divide operations between units.
Located at 2202 E Central Ave in Wichita, Kansas, the property presents a straightforward retail format designed for customer-facing use. Because the listing is presented specifically as retail with two units, it may also appeal to owner-operators looking for separated space while keeping a single asset under one roof.
For buyers seeking a compact retail investment or a retail owner-occupant setup, the two-unit layout is a practical way to support separate businesses, different product/service concepts, or staggered leasing plans. The clean, retail-focused configuration can streamline tenant onboarding compared with mixed-use properties that require significant reconfiguration. Prospective tenants and buyers should review the individual unit layouts and fit-out requirements for their intended use, given that the listing information specifies retail use and the two-unit structure.
Located at 2202 E Central Ave in Wichita, Kansas, the property presents a straightforward retail format designed for customer-facing use. Because the listing is presented specifically as retail with two units, it may also appeal to owner-operators looking for separated space while keeping a single asset under one roof.
For buyers seeking a compact retail investment or a retail owner-occupant setup, the two-unit layout is a practical way to support separate businesses, different product/service concepts, or staggered leasing plans. The clean, retail-focused configuration can streamline tenant onboarding compared with mixed-use properties that require significant reconfiguration. Prospective tenants and buyers should review the individual unit layouts and fit-out requirements for their intended use, given that the listing information specifies retail use and the two-unit structure.
Key Highlights
- For‑sale retail building with 2 units totaling 2,500 SF
- Retail setup configured as two separate units within the 2,500 SF building
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
$25,556
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
8.52%
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%
$511,120
$511.1K
Cap Rate 7%
$365,086
$365.1K
Cap Rate 9%
$283,956
$284.0K
Market Conditions
NOI Build-Up for 2,500 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
$39.9K $15.96/SF
− Vacancy
−$3.4K −$1.36/SF
EGI
$36.5K $14.60/SF
− OpEx
−$11.0K −$4.38/SF
NOI
$25.6K $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%
$511,120
Cap Rate 7%
$365,086
Cap Rate 9%
$283,956
Alternative Uses
Best Use
Retail
$365.1K
$319.5K – $425.9K
NOI $25,556 @ 7.0% cap · market cap 8.52%
Second Best
Flex RnD
$282.8K
$247.5K – $329.9K
NOI $19,796 @ 7.0% cap · market cap 6.60%
Theoretical Best
Office A
$619.0K
$541.6K – $722.2K
NOI $43,331 @ 7.0% cap · market cap 14.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,312
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 67214, KS
15,936
Population
8,197
Households
1.9
Avg Household Size
33
Median Age
13%
College-Educated
77%
High-School Grad
5.3 sq mi
ZIP Area
3,007
Density / Sq Mi
$36,636
Median Household Income
$25,518
Median Earnings
$752
Median Rent
$72,600
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - For-sale retail building with two units totaling 2,500 SF.
Where is this flex space located?
The property is located at 2202 E CENTRAL AVE Wichita, KS.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: For‑sale retail building with 2 units totaling 2,500 SF; Retail setup configured as two separate units within the 2,500 SF building
