Mixed-Use Property for
For Sale
Contact for pricing
1101 E Central Ave, Wichita, KS 67214
Mixed-use property featuring industrial, office, and retail spaces.
Property Size6,930 SF
Price / SF$85.86
Days on Market673
Property Features for 1101 E Central Ave
General Information
Standard status
Active
Size
6,930 SF
Property subtype
Industrial, Office, Retail
Zoning
Limited Commercial
Lease Type
Modified Gross
Investment Type
Owner/User
Building Details
Year Built
1965
Stories
1
Listing Agency:
Insite Real Estate Group
Listed By:
Jake Ramstack · License #KS Sp00230947
(316) 686-7121
Source:
Crexi
Added: Oct 30, 2024
Changed: Aug 31
Last Checked: Aug 31 at 2:44PM
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 Insite Real Estate Group
Investment Insights
Based on property information with market context.
This mixed-use property offers a total size of 6,930 square feet and is suitable for industrial, office, and retail purposes. The property's layout allows for flexible use, with each suite capable of being leased separately or together, providing options for various business needs.
Key Highlights
- Suites can be leased separately or together.
- Year Built: 1965
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
$45,900
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
7.71%
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%
$918,000
$918.0K
Cap Rate 7%
$655,714
$655.7K
Cap Rate 9%
$510,000
$510.0K
Market Conditions
NOI Build-Up for 6,930 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
$69.0K $9.96/SF
− Vacancy
−$3.5K −$0.50/SF
EGI
$65.6K $9.46/SF
− OpEx
−$19.7K −$2.84/SF
NOI
$45.9K $6.62/SF
Area
Wichita, KS
Vacancy
5.00%
Lease Rate
$9.96 /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%
$918,000
Cap Rate 7%
$655,714
Cap Rate 9%
$510,000
Alternative Uses
Best Use
Office B
$1.20M
$1.05M – $1.40M
NOI $83,847 @ 7.0% cap · market cap 14.09%
Second Best
Mixed Use
$1.01M
$886.8K – $1.18M
NOI $70,946 @ 7.0% cap · market cap 11.92%
Theoretical Best
Office A
$1.72M
$1.50M – $2.00M
NOI $120,112 @ 7.0% cap · market cap 20.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,914
Businesses Nearby
Explore this area
Business Placement
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 Office 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?
Mixed-use property - Mixed-use property featuring industrial, office, and retail spaces.
Where is this mixed-use property located?
The property is located at 1101 E Central Ave Wichita, KS.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Suites can be leased separately or together.; Year Built: 1965
