Full-Equipped Restaurant
For Sale
Contact for pricing
850 North Broadway Avenue, Wichita, KS 67214
For sale restaurant building with included equipment, decor, and furniture ready to operate.
Property Size1,840 SF
Price / SF$178.80
Days on Market51
Property Features for 850 North Broadway Avenue
General Information
Standard status
Active
Size
1,840 SF
Class
C
Property subtype
Retail
Zoning
LC
Additional Details
Business Included
Yes
Building Details
Year Built
1979
Buildings
1
Stories
1
Listing Agency:
Landmark Commercial Real Estate
(316) 573-3542
Listed By:
Tate Brumfield · License #00245291
Source:
Crexi
Added: Jun 22
Changed: Aug 8
Last Checked: Aug 8 at 12:30PM
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 Landmark Commercial Real Estate
Investment Insights
Based on property information with market context.
This for-sale restaurant building is being offered with a complete package of restaurant equipment, decor, and furniture included with the sale. Included items feature a Bunn Ultra 2 hopper slush machine, a Taylor soft serve machine, an Avantco single-door undercounter freezer, and a Frymaster two-vat fryer with computers and oil filtration. The kitchen package also includes a 4-foot gas griddle flattop, undercounter True coolers, a shake blender, and a walk-in cooler and freezer, along with wire rack shelving, stainless-steel pans, and a food chute with heat warmers.
The property is located at 850 North Broadway Avenue in Wichita, Kansas. The included furnishings and back-of-house components are designed to support quick buildout and continuity of the existing restaurant layout and service workflow.
For buyers looking for a turnkey restaurant operation, the conveyance of core hot-side and cold-storage equipment plus seating makes this building a practical fit. It may also appeal to an operator or investor who wants to minimize equipment replacement and start with an assembled package that includes warmers, cookware storage, and diner-style tables, chairs, and booths.
The property is located at 850 North Broadway Avenue in Wichita, Kansas. The included furnishings and back-of-house components are designed to support quick buildout and continuity of the existing restaurant layout and service workflow.
For buyers looking for a turnkey restaurant operation, the conveyance of core hot-side and cold-storage equipment plus seating makes this building a practical fit. It may also appeal to an operator or investor who wants to minimize equipment replacement and start with an assembled package that includes warmers, cookware storage, and diner-style tables, chairs, and booths.
Key Highlights
- Restaurant building built in 1979
- Restaurant equipment, decor, and furniture included with the building
- Includes Bunn Ultra 2 hopper slush machine and Taylor C706‑33 soft serve machine
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
$21,869
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
6.65%
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%
$437,380
$437.4K
Cap Rate 7%
$312,414
$312.4K
Cap Rate 9%
$242,989
$243.0K
Market Conditions
NOI Build-Up for 1,840 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
$31.4K $17.04/SF
− Vacancy
−$2.2K −$1.19/SF
EGI
$29.2K $15.85/SF
− OpEx
−$7.3K −$3.96/SF
NOI
$21.9K $11.89/SF
Area
Wichita, KS
Vacancy
7.00%
Lease Rate
$17.04 /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%
$437,380
Cap Rate 7%
$312,414
Cap Rate 9%
$242,989
Alternative Uses
Best Use
Specialty Retail
$312.4K
$273.4K – $364.5K
NOI $21,869 @ 7.0% cap · market cap 6.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$455.6K
$398.6K – $531.5K
NOI $31,891 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
964
Businesses Nearby
9k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
6,027 visits/mo
0.2 miles
U-Haul Moving & Storage Of McAdams Park
Shops & Services
2,945 visits/mo
0.4 miles
Demographics for 67214, KS
15,936
Population
8,197
Households
1.9
Avg Household Size
33
Median Age
13%
College-Educated
77%
High-School Grad
5.3 sq mi
ZIP Area
3,007
Density / Sq Mi
$36,636
Median Household Income
$25,518
Median Earnings
$752
Median Rent
$72,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - For sale restaurant building with included equipment, decor, and furniture ready to operate.
Where is this conventional restaurant located?
The property is located at 850 North Broadway Avenue Wichita, KS.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: Restaurant building built in 1979; Restaurant equipment, decor, and furniture included with the building; Includes Bunn Ultra 2 hopper slush machine and Taylor C706‑33 soft serve machine
