Retail Shopping Center Near Highway
For Sale
Contact for pricing
8343 E 32nd St N, Wichita, KS 67226
Shopping center with strong intersection visibility and convenient access to Highway K-96.
Property Size18,740 SF
Price / SF$112.06
Days on Market249
Property Features for 8343 E 32nd St N
General Information
Standard status
Active
Size
18,740 SF
Property subtype
RETAIL
Listing Agency:
NAI Martens
(316) 262-0000
Listed By:
Patrick Ahern · License #SP00052327
(316) 253-0660
Source:
Moodyscre
Added: Jan 6
Changed: Sep 11
Last Checked: Sep 12 at 9:38AM
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 retail shopping center is positioned just east of the Rock Road corridor on 32nd Street, providing convenient access to Highway K-96. The property totals 18,740 square feet of commercial space.
Visibility and accessibility are key attributes, with approximately 68,345 vehicles passing daily at the intersection of Rock Road and Highway K-96. The surrounding trade area includes well-known retailers and restaurants such as Petco, Walmart, Buffalo Wild Wings, Smoothie King, and Starbucks, along with other established businesses.
For sale financial information is available upon request through the broker.
Visibility and accessibility are key attributes, with approximately 68,345 vehicles passing daily at the intersection of Rock Road and Highway K-96. The surrounding trade area includes well-known retailers and restaurants such as Petco, Walmart, Buffalo Wild Wings, Smoothie King, and Starbucks, along with other established businesses.
For sale financial information is available upon request through the broker.
Key Highlights
- 18,740 SF commercial shopping center
- Located at the intersection of Rock Road and Highway K‑96 with approx. 68,345 vehicles passing daily
- Approximately 32nd Street location just east of the Rock Road corridor
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
$191,567
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
9.12%
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%
$3,831,340
$3.8M
Cap Rate 7%
$2,736,671
$2.7M
Cap Rate 9%
$2,128,522
$2.1M
Market Conditions
NOI Build-Up for 18,740 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
$299.1K $15.96/SF
− Vacancy
−$25.4K −$1.36/SF
EGI
$273.7K $14.60/SF
− OpEx
−$82.1K −$4.38/SF
NOI
$191.6K $10.22/SF
Area
Wichita, KS
Vacancy
8.50%
Lease Rate
$15.96 /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%
$3,831,340
Cap Rate 7%
$2,736,671
Cap Rate 9%
$2,128,522
Alternative Uses
Best Use
Retail
$2.74M
$2.39M – $3.19M
NOI $191,567 @ 7.0% cap · market cap 9.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.64M
$4.06M – $5.41M
NOI $324,806 @ 7.0% cap · market cap 15.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,300
Businesses Nearby
521k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 45%
Dining 31%
Leisure 11%
Shops & Services 9%
Walmart
Superstores
125,144 visits/mo
0.3 miles
Sam's Club
Superstores
108,833 visits/mo
0.5 miles
AMC Northrock 14
Leisure
57,249 visits/mo
0.2 miles
McDonald's
Dining
30,283 visits/mo
0.4 miles
Starbucks
Dining
19,556 visits/mo
0.4 miles
Demographics for 67226, KS
20,767
Population
9,256
Households
2.2
Avg Household Size
37
Median Age
52%
College-Educated
97%
High-School Grad
24.7 sq mi
ZIP Area
841
Density / Sq Mi
$88,603
Median Household Income
$49,666
Median Earnings
$1,164
Median Rent
$274,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Shopping center - Shopping center with strong intersection visibility and convenient access to Highway K-96.
Where is this shopping center located?
The property is located at 8343 E 32nd St N Wichita, KS.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 18,740 SF commercial shopping center; Located at the intersection of Rock Road and Highway K‑96 with approx. 68,345 vehicles passing daily; Approximately 32nd Street location just east of the Rock Road corridor
