Eight-Bay Industrial
For Sale
$1,200,000
3601 W Harry, Wichita, KS 67213
Fully occupied warehouse property with truck access, doorside parking, and proximity to major Wichita highways.
Property Size12,800 SF
Price / SF$93.75
Days on Market141
Property Features for 3601 W Harry
General Information
Standard status
Active
Size
12,800 SF
Property subtype
Industrial - Warehouse/Distribution
Occupancy
100%
Net Operating Income
$94,001
Additional Details
Cap Rate
8.17%
Highway Access
Yes
Building Details
Building Size
12,800 SF
Listing Agency:
NAI Martens
(316) 613-2449
Listed By:
Patrick Ahern, SIOR, CCIM · License #00244816
Source:
Commercialcafe
Added: Apr 12
Changed: Aug 29
Last Checked: Aug 30 at 1:01PM
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 industrial warehouse property contains eight bays, each measuring 1,600 square feet, for a combined 12,800 square feet. The building is reported as 100% occupied and includes doorside parking along with truck access suited to logistics-oriented operations.
The property is located at 3601 W Harry St in Wichita, near West Street and within reach of Kellogg (US 54/400) and K-42. Financial metrics include an 8.17% cap rate and reported NOI of $94,001.26. The multi-bay configuration provides separately defined spaces within a single industrial asset.
The property is located at 3601 W Harry St in Wichita, near West Street and within reach of Kellogg (US 54/400) and K-42. Financial metrics include an 8.17% cap rate and reported NOI of $94,001.26. The multi-bay configuration provides separately defined spaces within a single industrial asset.
Key Highlights
- Eight‑bay warehouse configuration with 12,800 square feet total
- Each bay measures 1,600 square feet
- Reported 100% occupancy
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
$109,723
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
9.14%
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%
$2,194,460
$2.2M
Cap Rate 7%
$1,567,471
$1.6M
Cap Rate 9%
$1,219,144
$1.2M
Market Conditions
NOI Build-Up for 12,800 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
$135.2K $10.56/SF
− Vacancy
−$6.1K −$0.48/SF
EGI
$129.1K $10.08/SF
− OpEx
−$19.4K −$1.51/SF
NOI
$109.7K $8.57/SF
Area
Wichita, KS
Vacancy
4.50%
Lease Rate
$10.56 /SF/Yr
Expense Ratio
15.00%
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%
$2,194,460
Cap Rate 7%
$1,567,471
Cap Rate 9%
$1,219,144
Alternative Uses
Best Use
Warehouse
$1.57M
$1.37M – $1.83M
NOI $109,723 @ 7.0% cap · market cap 9.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.17M
$2.77M – $3.70M
NOI $221,852 @ 7.0% cap · market cap 18.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
393
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 67213, KS
21,007
Population
9,788
Households
2.1
Avg Household Size
34
Median Age
13%
College-Educated
83%
High-School Grad
6.6 sq mi
ZIP Area
3,183
Density / Sq Mi
$48,015
Median Household Income
$32,186
Median Earnings
$920
Median Rent
$80,500
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?
Warehouse - Fully occupied warehouse property with truck access, doorside parking, and proximity to major Wichita highways.
Where is this warehouse located?
The property is located at 3601 W Harry Wichita, KS.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Eight‑bay warehouse configuration with 12,800 square feet total; Each bay measures 1,600 square feet; Reported 100% occupancy
