Wichita Retail Investment
For Sale
Contact for pricing
4520 E 13th St N, Wichita, KS 67208
Single tenant net lease investment in Wichita, Kansas.
Property Size8,000 SF
Price / SF$155
Days on Market160
Property Features for 4520 E 13th St N
General Information
Standard status
Active
Size
8,000 SF
Total Parking Spaces
25
Property subtype
Retail
Lease Type
NN
Net Operating Income
$99,648
Building Details
Year Built
1997
Stories
1
Listing Agency:
The Jacobs Group NNN
(310) 378-7747
Listed By:
Ehren Jacobs · License #SA584088000
Source:
Crexi
Added: Mar 18
Changed: Aug 15
Last Checked: Aug 23 at 9:35PM
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 The Jacobs Group NNN
Investment Insights
Based on property information with market context.
This is a single tenant, net lease investment opportunity located in a high visibility location in Wichita, Kansas. The property offers 8000 square feet of retail space.
Key Highlights
- Single tenant property
- NET Lease investment opportunity
- High visibility location
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
$81,779
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
6.60%
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%
$1,635,580
$1.6M
Cap Rate 7%
$1,168,271
$1.2M
Cap Rate 9%
$908,656
$908.7K
Market Conditions
NOI Build-Up for 8,000 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
$127.7K $15.96/SF
− Vacancy
−$10.9K −$1.36/SF
EGI
$116.8K $14.60/SF
− OpEx
−$35.0K −$4.38/SF
NOI
$81.8K $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%
$1,635,580
Cap Rate 7%
$1,168,271
Cap Rate 9%
$908,656
Alternative Uses
Best Use
Retail
$1.17M
$1.02M – $1.36M
NOI $81,779 @ 7.0% cap · market cap 6.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,658 @ 7.0% cap · market cap 11.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
310
Businesses Nearby
32k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 67%
Dining 17%
Apparel 14%
Electronics 2%
Family Dollar
Shops & Services
7,393 visits/mo
0.2 miles
Dollar General
Shops & Services
5,647 visits/mo
0.1 miles
Church's Chicken
Dining
5,462 visits/mo
0.1 miles
Citi Trends
Apparel
4,374 visits/mo
0.0 miles
O'Reilly Auto Parts
Shops & Services
3,571 visits/mo
0.2 miles
Demographics for 67208, KS
17,901
Population
8,067
Households
2.2
Avg Household Size
33
Median Age
41%
College-Educated
94%
High-School Grad
5.0 sq mi
ZIP Area
3,580
Density / Sq Mi
$60,049
Median Household Income
$39,056
Median Earnings
$1,008
Median Rent
$179,100
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 net lease investment in Wichita, Kansas.
Where is this retail space located?
The property is located at 4520 E 13th St N Wichita, KS.
What is the asking price?
The asking price for this property is $1,240,000.
What are key features of this property?
This property features: Single tenant property; NET Lease investment opportunity; High visibility location
