Well-Maintained Commercial Building For
For Sale
Contact for pricing
Pending
4911 S Meridian Ave, Wichita, KS 67217
2,600 SF building leased to senior care provider.
Property Size2,600 SF
Lot Size0.86 Acres
Days on Market187
Property Features for 4911 S Meridian Ave
General Information
Standard status
Pending
Size
2,600 SF
Class
C
Lot size
0.86 Acres
Property subtype
Senior Living
Zoning
Residential
Building Details
Buildings
1
Stories
1
Listing Agency:
Lange Real Estate
Listed By:
Jeffrey Lowrance · License #KS
Source:
Crexi
Added: Feb 5
Changed: Aug 8
Last Checked: Aug 4 at 7:07AM
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 Lange Real Estate
Investment Insights
Based on property information with market context.
This well-maintained ±2,600 SF double-wide modular building is situated on a permanent foundation across two lots totaling 37,343 SF. Previously used as a real estate office for 25 years, the property is currently leased to an established senior care provider at $4,000 per month with a 3-year term, providing immediate income. The property is located two miles south of Highway 235, offering easy access and strong visibility, with professionally managed mobile home communities to the west and south. It features a large parking lot, sprinkler system, central HVAC, and a backup generator. Additionally, there is a large adjacent lot available for future expansion. The property is well-suited for continued office, medical, or service use.
Key Highlights
- Leased to established senior care provider at $4,000/month with 3‑year term.
- Well‑maintained ±2,600 SF double‑wide modular building on permanent foundation.
- Large adjacent lot available for future expansion.
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
$21,961
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
6.76%
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%
$439,220
$439.2K
Cap Rate 7%
$313,729
$313.7K
Cap Rate 9%
$244,011
$244.0K
Market Conditions
NOI Build-Up for 2,600 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
$42.1K $16.20/SF
− Vacancy
−$2.2K −$0.84/SF
EGI
$39.9K $15.36/SF
− OpEx
−$18.0K −$6.91/SF
NOI
$22.0K $8.45/SF
Area
ZIP 67217
Vacancy
5.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$439,220
Cap Rate 7%
$313,729
Cap Rate 9%
$244,011
Alternative Uses
Best Use
Apartment 5plus
$313.7K
$274.5K – $366.0K
NOI $21,961 @ 7.0% cap · market cap 6.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$644.0K
$563.5K – $751.3K
NOI $45,078 @ 7.0% cap · market cap 13.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
82
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 67217, KS
30,926
Population
13,477
Households
2.3
Avg Household Size
35
Median Age
12%
College-Educated
84%
High-School Grad
14.4 sq mi
ZIP Area
2,148
Density / Sq Mi
$54,767
Median Household Income
$37,094
Median Earnings
$1,006
Median Rent
$115,100
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Senior housing / Retirement Home - 2,600 SF building leased to senior care provider.
Where is this senior housing / retirement home located?
The property is located at 4911 S Meridian Ave Wichita, KS.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Leased to established senior care provider at $4,000/month with 3‑year term.; Well‑maintained ±2,600 SF double‑wide modular building on permanent foundation.; Large adjacent lot available for future expansion.
