Retail and Service
For Sale
Contact for pricing
5620 East Kellogg Drive, Wichita, KS 67218
For sale retail and service property offering 11,250 square feet of commercial space in Wichita.
Property Size11,250 SF
Price / SF$168.44
Days on Market129
Property Features for 5620 East Kellogg Drive
General Information
Standard status
Active
Size
11,250 SF
Total Parking Spaces
111
Property subtype
Retail, Office
Lease Type
NNN
Building Details
Units
111
Listing Agency:
Landmark Commercial Real Estate
(316) 262-2442
Listed By:
Brad Saville · License #KS 00041653
Source:
Crexi
Added: Apr 13
Changed: Aug 18
Last Checked: Aug 17 at 7:00AM
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 Landmark Commercial Real Estate
Investment Insights
Based on property information with market context.
This for-sale retail and service center provides 11,250 square feet of commercial space designed to support retail and service uses. The property is categorized as both retail space and office space within the available materials, giving it flexibility for appropriate tenants depending on their operational needs.
The asset is located at 5620 East Kellogg Drive in Wichita, Kansas 67218. With its commercial configuration and mixed retail/service and office-space classification, the property may appeal to buyers looking for a straightforward platform for neighborhood-oriented retail and service activity.
Prospective tenants and buyers can review the available retail and office-space framing as they evaluate how the existing space can be adapted to their specific use requirements.
The asset is located at 5620 East Kellogg Drive in Wichita, Kansas 67218. With its commercial configuration and mixed retail/service and office-space classification, the property may appeal to buyers looking for a straightforward platform for neighborhood-oriented retail and service activity.
Prospective tenants and buyers can review the available retail and office-space framing as they evaluate how the existing space can be adapted to their specific use requirements.
Key Highlights
- For sale retail and service property with 11,250 sq ft of commercial space
- Commercial property in Wichita
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
$136,115
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
7.18%
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%
$2,722,300
$2.7M
Cap Rate 7%
$1,944,500
$1.9M
Cap Rate 9%
$1,512,389
$1.5M
Market Conditions
NOI Build-Up for 11,250 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
$225.5K $20.04/SF
− Vacancy
−$44.0K −$3.91/SF
EGI
$181.5K $16.13/SF
− OpEx
−$45.4K −$4.03/SF
NOI
$136.1K $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%
$2,722,300
Cap Rate 7%
$1,944,500
Cap Rate 9%
$1,512,389
Alternative Uses
Best Use
Office B
$1.94M
$1.70M – $2.27M
NOI $136,115 @ 7.0% cap · market cap 7.18%
Second Best
Retail
$1.64M
$1.44M – $1.92M
NOI $115,002 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$2.79M
$2.44M – $3.25M
NOI $194,988 @ 7.0% cap · market cap 10.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
426
Businesses Nearby
Explore this area
Business Placement
Demographics for 67218, KS
23,044
Population
11,483
Households
2
Avg Household Size
35
Median Age
25%
College-Educated
81%
High-School Grad
5.0 sq mi
ZIP Area
4,609
Density / Sq Mi
$47,905
Median Household Income
$33,750
Median Earnings
$905
Median Rent
$117,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - For sale retail and service property offering 11,250 square feet of commercial space in Wichita.
Where is this retail space located?
The property is located at 5620 East Kellogg Drive Wichita, KS.
What is the asking price?
The asking price for this property is $1,895,000.
What are key features of this property?
This property features: For sale retail and service property with 11,250 sq ft of commercial space; Commercial property in Wichita
