High-Visibility Automotive
For Sale
Contact for pricing
9045 East Kellogg Drive, Wichita, KS 67207
Former Mitsubishi site with direct frontage along US-400 and immediate access to I-135.
Property Size22,344 SF
Price / SF$119.72
Days on Market124
Property Features for 9045 East Kellogg Drive
General Information
Standard status
Active
Size
22,344 SF
Class
B
Property subtype
Retail, Industrial
Zoning
General Commercial
Site & Location
Traffic Count
100,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Listing Agency:
Landmark Commercial Real Estate
Listed By:
Brad Saville · License #KS 00041653
(316) 262-2442
Source:
Crexi
Added: May 5
Changed: Aug 24
Last Checked: Sep 3 at 9:07AM
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.
Offered for sale is the former Family Mitsubishi property, a high-visibility automotive site at 9045 East Kellogg Drive in Wichita, Kansas. The property benefits from direct frontage along Kellogg (US-400) and immediate access to I-135 via Turnpike.
The site sits within one of Wichita’s primary retail and automotive corridors and is surrounded by established retail, auto dealerships, service businesses, and national and regional users. It also has strong connectivity to I-135 and K-96 through nearby interchanges.
The property is positioned to capture consistent roadway exposure, with traffic counts of approximately 100,000 vehicles per day.
The site sits within one of Wichita’s primary retail and automotive corridors and is surrounded by established retail, auto dealerships, service businesses, and national and regional users. It also has strong connectivity to I-135 and K-96 through nearby interchanges.
The property is positioned to capture consistent roadway exposure, with traffic counts of approximately 100,000 vehicles per day.
Key Highlights
- Former Family Mitsubishi property with direct frontage along US‑400 (East Kellogg)
- Immediate access to I‑135 (Turnpike) with connectivity to I‑135 and K‑96 via nearby interchanges
- High‑traffic site with approximately 100,000 vehicles per day
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
$221,708
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
8.29%
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%
$4,434,160
$4.4M
Cap Rate 7%
$3,167,257
$3.2M
Cap Rate 9%
$2,463,422
$2.5M
Market Conditions
NOI Build-Up for 22,344 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
$335.2K $15.00/SF
− Vacancy
−$18.4K −$0.83/SF
EGI
$316.7K $14.17/SF
− OpEx
−$95.0K −$4.25/SF
NOI
$221.7K $9.92/SF
Area
ZIP 67207
Vacancy
5.50%
Lease Rate
$15.00 /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%
$4,434,160
Cap Rate 7%
$3,167,257
Cap Rate 9%
$2,463,422
Alternative Uses
Best Use
Retail
$3.17M
$2.77M – $3.70M
NOI $221,708 @ 7.0% cap · market cap 8.29%
Second Best
Industrial
$1.89M
$1.65M – $2.21M
NOI $132,321 @ 7.0% cap · market cap 4.95%
Theoretical Best
Office A
$4.82M
$4.22M – $5.63M
NOI $337,584 @ 7.0% cap · market cap 12.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
282
Businesses Nearby
213k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 50%
Shops & Services 26%
Apparel 13%
Hotels & Casinos 9%
Costco Wholesale
Superstores
106,694 visits/mo
0.4 miles
Costco Gasoline
Shops & Services
36,319 visits/mo
0.3 miles
Burlington
Apparel
24,379 visits/mo
0.5 miles
Dollar Tree
Shops & Services
11,551 visits/mo
0.5 miles
Wichita Marriott
Hotels & Casinos
7,491 visits/mo
0.3 miles
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 Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Former Mitsubishi site with direct frontage along US-400 and immediate access to I-135.
Where is this auto shop located?
The property is located at 9045 East Kellogg Drive Wichita, KS.
What is the asking price?
The asking price for this property is $2,675,000.
What are key features of this property?
This property features: Former Family Mitsubishi property with direct frontage along US‑400 (East Kellogg); Immediate access to I‑135 (Turnpike) with connectivity to I‑135 and K‑96 via nearby interchanges; High‑traffic site with approximately 100,000 vehicles per day
