Prime Business Office
For Sale
$1,932,054
7803 E Osie St, Wichita, KS 67207
Thriving office park near Rock Road with high occupancy.
Property Size19,204 SF
Price / SF$100.61
Days on Market272
Property Features for 7803 E Osie St
General Information
Standard status
Active
Size
19,204 SF
Class
B
Property subtype
Office
Building Details
Building Size
19,204 SF
Year Built
1982
Listing Agency:
Sperry Ad Astra Commercial
(316) 312-3385
Listed By:
Johanna Kellner-Ledesma · License #KS #244521
(316) 312-3385
Source:
Sperrycga
Added: Nov 21, 2025
Changed: Aug 8
Last Checked: May 9 at 12:40AM
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 Sperry Ad Astra Commercial
Investment Insights
Based on property information with market context.
This business office park is strategically positioned one block off Rock Road and one mile from Highway 54 (Kellogg) and in close proximity to the I-35 Turnpike. The property has an 80% occupancy rate. A variety of dining options are available within a half-mile radius. The property is meticulously maintained and offers versatile flex space, providing adaptability for various business needs, including customizable office layouts, collaborative spaces, or multi-use facilities. Cherry Creek Business Park offers easy access to major highways and a diverse range of amenities. It is located one mile south of Kellogg Highway / 254.
Key Highlights
- High Occupancy Rate: Currently at 80%, indicating strong tenant demand and income potential.
- Strategic Location: Situated one block off Rock Road, one mile from Highway 54 (Kellogg), and near I‑35 Turnpike, providing excellent accessibility.
- Versatile Flex Space: Adaptable to various business needs, including customizable office layouts and collaborative spaces.
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
$159,340
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
8.25%
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%
$3,186,800
$3.2M
Cap Rate 7%
$2,276,286
$2.3M
Cap Rate 9%
$1,770,444
$1.8M
Market Conditions
NOI Build-Up for 19,204 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
$265.0K $13.80/SF
− Vacancy
−$19.9K −$1.04/SF
EGI
$245.1K $12.77/SF
− OpEx
−$85.8K −$4.47/SF
NOI
$159.3K $8.30/SF
Area
ZIP 67207
Vacancy
7.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
35.00%
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%
$3,186,800
Cap Rate 7%
$2,276,286
Cap Rate 9%
$1,770,444
Alternative Uses
Best Use
Office B
$2.95M
$2.58M – $3.44M
NOI $206,159 @ 7.0% cap · market cap 10.67%
Second Best
Flex RnD
$2.28M
$1.99M – $2.66M
NOI $159,340 @ 7.0% cap · market cap 8.25%
Theoretical Best
Office A
$4.14M
$3.63M – $4.84M
NOI $290,143 @ 7.0% cap · market cap 15.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
440
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Thriving office park near Rock Road with high occupancy.
Where is this office building located?
The property is located at 7803 E Osie St Wichita, KS.
What is the asking price?
The asking price for this property is $1,932,054.
What are key features of this property?
This property features: High Occupancy Rate: Currently at 80%, indicating strong tenant demand and income potential.; Strategic Location: Situated one block off Rock Road, one mile from Highway 54 (Kellogg), and near I‑35 Turnpike, providing excellent accessibility.; Versatile Flex Space: Adaptable to various business needs, including customizable office layouts and collaborative spaces.
