Central and Webb Road
For Sale
Contact for pricing
503 Webb Rd., Wichita, KS
Retail or office space at Central and Webb Road.
Property Size7,700 SF
Lot Size0.70 Acres
Price / SF$259.74
Days on Market258
Property Features for 503 Webb Rd.
General Information
Standard status
Active
Size
7,700 SF
Lot size
0.70 Acres
Property subtype
RETAIL
Properties For Sale
at 503 Webb Rd. Contact us- Size
- 7,700 SF
- Type
- RETAIL
- Lease Type
- NNN
- Availability
- AVAILABLE
503 N Webb Rd
•High-visibility corner - Prime Central &
Webb location.
•Office or retail ready...
show more
Contact us
Listing Agency:
Reece Nichols South Central Kansas
(316) 775-8900
Listed By:
Ryan Kerr · License #00235539
(316) 775-8900
Source:
Moodyscre
Added: Nov 24, 2025
Changed: Aug 8
Last Checked: May 19 at 10:30PM
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.
This 7,700 square foot property is located at the northwest corner of Central and Webb Road. It offers an opportunity for either office or retail use. Building and monument signage is available. The preferred lease term is 10 years, and tenant improvements are negotiable.
Key Highlights
- High‑visibility location at the northwest corner of Central and Webb Road.
- Opportunity for either office or retail use.
- Building and monument signage available.
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
$93,163
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
4.66%
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%
$1,863,260
$1.9M
Cap Rate 7%
$1,330,900
$1.3M
Cap Rate 9%
$1,035,144
$1.0M
Market Conditions
NOI Build-Up for 7,700 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
$154.3K $20.04/SF
− Vacancy
−$30.1K −$3.91/SF
EGI
$124.2K $16.13/SF
− OpEx
−$31.1K −$4.03/SF
NOI
$93.2K $12.10/SF
Area
Wichita, KS
Vacancy
19.50%
Lease Rate
$20.04 /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%
$1,863,260
Cap Rate 7%
$1,330,900
Cap Rate 9%
$1,035,144
Alternative Uses
Best Use
Office B
$1.33M
$1.16M – $1.55M
NOI $93,163 @ 7.0% cap · market cap 4.66%
Second Best
Retail
$1.12M
$983.9K – $1.31M
NOI $78,712 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$1.91M
$1.67M – $2.22M
NOI $133,458 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office 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?
Retail space - Retail or office space at Central and Webb Road.
Where is this retail space located?
The property is located at 503 Webb Rd. Wichita, KS.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: High‑visibility location at the northwest corner of Central and Webb Road.; Opportunity for either office or retail use.; Building and monument signage available.
