Current Use by Public Records
- Journies Custom Massages / Alternative Medicine Practice / Spa & Massage Center
- Thrive Concierge Wellness / Physician
- Journies Skin Care & Massage / Alternative Medicine Practice / Spa & Massage Center
Property Details for 550 Oliver St
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This 9,946 sq ft multi-tenant retail property in Wichita, Kansas, presents a compelling investment opportunity. Located at 550 South Oliver Street, this thriving center boasts 20 tenants, including Extrao Cheesecake Co, Tacos Y Mas, Medwise, and a Day Spa, with a current occupancy rate of 90%. The property benefits from high visibility due to its location near US Route 400, a major interstate with over 115,000 vehicles per day, and its position on Oliver Street, which sees 16,000+ vehicles daily. Pylon signage ensures optimal visibility. The strong local economy, fueled by Wichita's aerospace and manufacturing industries, supports a stable workforce and consistent economic growth. The property's current Net Operating Income (NOI) is $65,104, resulting in a 10.02% capitalization rate. With only one vacant unit, there's immediate potential to increase rental income. The center is situated in a densely populated area, with over 105,000 residents within a 3-mile radius. The asking price is $650,000, translating to $65.35 per square foot. This property offers a rare combination of high occupancy, strong location, and significant growth potential, making it an ideal addition to any investment portfolio. The property's address is 550 South Oliver Street, Wichita, KS 67218.
Value Estimations
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Wichita
- County
- Sedgwick
- State
- Kansas
- Longitude
- -97.2815
- Latitude
- 37.6637
