Industrial Property with
For Sale
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7236 E Harry St, Wichita, KS 67207
49,862 SF industrial property featuring recent upgrades and ample parking.
Property Size49,862 SF
Lot Size6.25 Acres
Price / SF$80.22
Days on Market710
Property Features for 7236 E Harry St
General Information
Standard status
Active
Size
49,862 SF
Lot size
6.25 Acres
Property subtype
Industrial
Listing Agency:
NAI Martens
(316) 847-4914
Listed By:
Patrick Ahern · License #KS SP00052327
Source:
Crexi
Added: Aug 27, 2024
Changed: Jul 10
Last Checked: Aug 5 at 12:57PM
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 property offers 49,862 square feet of space on a 6.25-acre site. The property features a parking ratio of 10 per 1,000 square feet, providing over 500 parking spaces. The building includes a large, open floor space and has undergone $1 million in upgrades in 2021. It is suitable for light manufacturing. The property is equipped with a Cummins backup generator, a 225 KVA UPS automatic transfer switch, a raised floor data room, and a battery monitoring system.
Key Highlights
- 49,862 SF on 6.25 Acre Site
- $1 Million in Upgrades in 2021
- Cummins Backup Generator 225 KVA UPS Automatic Transfer Switch
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
$295,283
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
7.38%
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%
$5,905,660
$5.9M
Cap Rate 7%
$4,218,329
$4.2M
Cap Rate 9%
$3,280,922
$3.3M
Market Conditions
NOI Build-Up for 49,862 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
$448.8K $9.00/SF
− Vacancy
−$26.9K −$0.54/SF
EGI
$421.8K $8.46/SF
− OpEx
−$126.5K −$2.54/SF
NOI
$295.3K $5.92/SF
Area
ZIP 67207
Vacancy
6.00%
Lease Rate
$9.00 /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%
$5,905,660
Cap Rate 7%
$4,218,329
Cap Rate 9%
$3,280,922
Alternative Uses
Best Use
Industrial
$4.22M
$3.69M – $4.92M
NOI $295,283 @ 7.0% cap · market cap 7.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.76M
$9.42M – $12.56M
NOI $753,339 @ 7.0% cap · market cap 18.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
493
Businesses Nearby
Explore this area
Business Placement
Demographics for 67207, KS
28,143
Population
12,755
Households
2.2
Avg Household Size
34
Median Age
29%
College-Educated
88%
High-School Grad
10.4 sq mi
ZIP Area
2,706
Density / Sq Mi
$66,400
Median Household Income
$39,070
Median Earnings
$961
Median Rent
$204,600
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?
Manufacturing property - 49,862 SF industrial property featuring recent upgrades and ample parking.
Where is this manufacturing property located?
The property is located at 7236 E Harry St Wichita, KS.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: 49,862 SF on 6.25 Acre Site; $1 Million in Upgrades in 2021; Cummins Backup Generator 225 KVA UPS Automatic Transfer Switch
