Single-Tenant Retail
For Sale
Contact for pricing
2323 N Amidon Ave, Wichita, KS 67204
Single-tenant retail store available for sale, totaling 20,910 square feet.
Property Size20,910 SF
Price / SF$120.19
Days on Market106
Property Features for 2323 N Amidon Ave
General Information
Standard status
Active
Size
20,910 SF
Property subtype
RETAIL
Additional Details
Asking Price
$2,513,166
Building Details
Tenancy
Single
Listing Agency:
Matthews Real Estate Investment Services | Phoenix
(760) 636-3651
Listed By:
Dylan Haste · License #CQ1066435,BK3554632(FL)
(760) 636-3651
Source:
Moodyscre
Added: Apr 28
Changed: Jul 31
Last Checked: Aug 11 at 4:49AM
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 Matthews Real Estate Investment Services | Phoenix
Investment Insights
Based on property information with market context.
The property is a single-tenant retail store totaling 20,910 SF, offered for sale. The asset is configured as a dedicated retail facility rather than a multi-tenant shopping center.
The storefront is located at 2323 N Amidon Ave in Wichita, KS 67204.
The storefront is located at 2323 N Amidon Ave in Wichita, KS 67204.
Key Highlights
- Single‑tenant retail store totaling 20,910 SF
- Dedicated retail setup designed for one tenant
- For sale retail asset at 2323 N Amidon Ave, Wichita, KS 67204
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
$213,750
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
8.51%
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%
$4,275,000
$4.3M
Cap Rate 7%
$3,053,571
$3.1M
Cap Rate 9%
$2,375,000
$2.4M
Market Conditions
NOI Build-Up for 20,910 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
$333.7K $15.96/SF
− Vacancy
−$28.4K −$1.36/SF
EGI
$305.4K $14.60/SF
− OpEx
−$91.6K −$4.38/SF
NOI
$213.7K $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%
$4,275,000
Cap Rate 7%
$3,053,571
Cap Rate 9%
$2,375,000
Alternative Uses
Best Use
Retail
$3.05M
$2.67M – $3.56M
NOI $213,750 @ 7.0% cap · market cap 8.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.18M
$4.53M – $6.04M
NOI $362,417 @ 7.0% cap · market cap 14.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
48
Businesses Nearby
Explore this area
Business Placement
Demographics for 67204, KS
21,932
Population
9,424
Households
2.3
Avg Household Size
38
Median Age
24%
College-Educated
79%
High-School Grad
16.1 sq mi
ZIP Area
1,362
Density / Sq Mi
$68,549
Median Household Income
$39,258
Median Earnings
$976
Median Rent
$148,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Single-tenant retail store available for sale, totaling 20,910 square feet.
Where is this retail space located?
The property is located at 2323 N Amidon Ave Wichita, KS.
What is the asking price?
The asking price for this property is $2,513,166.
What are key features of this property?
This property features: Single‑tenant retail store totaling 20,910 SF; Dedicated retail setup designed for one tenant; For sale retail asset at 2323 N Amidon Ave, Wichita, KS 67204
