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3505 N Rock Rd, Wichita, KS 67226
Restaurants
Property Size5,140 SF
Lot Size1.30 Acres
Price / SF$340.47
Days on Market196
Property Features for 3505 N Rock Rd
General Information
Standard status
Active
Size
5,140 SF
Lot size
1.30 Acres
Property subtype
RETAIL
Listing Agency:
Reece Nichols South Central Kansas
(316) 708-5960
Listed By:
Jake Steven · License ##00218340
(316) 708-5960
Source:
Moodyscre
Added: Jan 27
Changed: Aug 8
Last Checked: Aug 8 at 6:02AM
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 Reece Nichols South Central Kansas
Investment Insights
Based on property information with market context.
Key Highlights
- Freestanding restaurant opportunity in NE Wichita.
- Located on Rock Road, Wichita’s main retail thoroughfare.
- Directly north of Highway K‑96.
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
$61,091
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
3.49%
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%
$1,221,820
$1.2M
Cap Rate 7%
$872,729
$872.7K
Cap Rate 9%
$678,789
$678.8K
Market Conditions
NOI Build-Up for 5,140 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
$87.6K $17.04/SF
− Vacancy
−$6.1K −$1.19/SF
EGI
$81.5K $15.85/SF
− OpEx
−$20.4K −$3.96/SF
NOI
$61.1K $11.89/SF
Area
Wichita, KS
Vacancy
7.00%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
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%
$1,221,820
Cap Rate 7%
$872,729
Cap Rate 9%
$678,789
Alternative Uses
Best Use
Specialty Retail
$872.7K
$763.6K – $1.02M
NOI $61,091 @ 7.0% cap · market cap 3.49%
Second Best
Retail
$750.6K
$656.8K – $875.7K
NOI $52,543 @ 7.0% cap · market cap 3.00%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $89,088 @ 7.0% cap · market cap 5.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
734
Businesses Nearby
363k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 34%
Dining 28%
Leisure 16%
Shops & Services 14%
Walmart
Superstores
125,144 visits/mo
0.1 miles
AMC Northrock 14
Leisure
57,249 visits/mo
0.2 miles
Starbucks
Dining
19,556 visits/mo
0.1 miles
Chipotle Mexican Grill
Dining
17,427 visits/mo
0.1 miles
Petco
Shops & Services
16,680 visits/mo
0.1 miles
Demographics for 67226, KS
20,767
Population
9,256
Households
2.2
Avg Household Size
37
Median Age
52%
College-Educated
97%
High-School Grad
24.7 sq mi
ZIP Area
841
Density / Sq Mi
$88,603
Median Household Income
$49,666
Median Earnings
$1,164
Median Rent
$274,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
Where is this restaurant located?
The property is located at 3505 N Rock Rd Wichita, KS.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Freestanding restaurant opportunity in NE Wichita.; Located on Rock Road, Wichita’s main retail thoroughfare.; Directly north of Highway K‑96.
