Iconic Wichita Building Redevelopment
For Sale
Contact for pricing
300 W Murdock St, Wichita, KS 67203
30,000 SF industrial building in the heart of Wichita.
Property Size30,000 SF
Price / SF$83.17
Days on Market651
Property Features for 300 W Murdock St
General Information
Standard status
Active
Size
30,000 SF
Class
C
Property subtype
Industrial
Zoning
Limited Industrial
Building Details
Year Built
1930
Buildings
1
Stories
2
Listing Agency:
Street Commercial
(316) 773-2707
Listed By:
Evan LaRue · License #KS
Source:
Crexi
Added: Nov 8, 2024
Changed: Aug 8
Last Checked: May 12 at 9:21PM
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 Street Commercial
Investment Insights
Based on property information with market context.
This property presents a rare redevelopment opportunity featuring an iconic building in Wichita. The building offers approximately 30,000 square feet of interior space. Additional adjacent land is available for sale or lease. The property includes dock-high access and an indoor loading dock. It is conveniently located in the heart of Wichita and benefits from abundant natural light. The building is equipped with heavy 3-phase power and independent electrical transformers.
Key Highlights
- Landmark redevelopment opportunity in the heart of Wichita.
- Approximately 30,000 square feet of interior space.
- Heavy 3 Phase Power and independent electrical transformers.
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
$181,440
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
7.27%
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%
$3,628,800
$3.6M
Cap Rate 7%
$2,592,000
$2.6M
Cap Rate 9%
$2,016,000
$2.0M
Market Conditions
NOI Build-Up for 30,000 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
$270.0K $9.00/SF
− Vacancy
−$10.8K −$0.36/SF
EGI
$259.2K $8.64/SF
− OpEx
−$77.8K −$2.59/SF
NOI
$181.4K $6.05/SF
Area
ZIP 67203
Vacancy
4.00%
Lease Rate
$9.00 /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%
$3,628,800
Cap Rate 7%
$2,592,000
Cap Rate 9%
$2,016,000
Alternative Uses
Best Use
Industrial
$2.59M
$2.27M – $3.02M
NOI $181,440 @ 7.0% cap · market cap 7.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.34M
$6.43M – $8.57M
NOI $514,080 @ 7.0% cap · market cap 20.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,325
Businesses Nearby
Explore this area
Business Placement
Demographics for 67203, KS
30,498
Population
14,851
Households
2.1
Avg Household Size
37
Median Age
25%
College-Educated
83%
High-School Grad
7.2 sq mi
ZIP Area
4,236
Density / Sq Mi
$50,411
Median Household Income
$33,431
Median Earnings
$921
Median Rent
$126,800
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Industrial property - 30,000 SF industrial building in the heart of Wichita.
Where is this industrial property located?
The property is located at 300 W Murdock St Wichita, KS.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: Landmark redevelopment opportunity in the heart of Wichita.; Approximately 30,000 square feet of interior space.; Heavy 3 Phase Power and independent electrical transformers.
