927 Rock Rd Wichita, KS 67207
- Lifestyle centers
- 8,930 SF
- 0.81 lot acres
Current Use by Public Records
- Susan’s Alterations & Dry Clean / Clothing Alteration Service / Dry Cleaner
Property Details for 927 Rock Rd
- Year built
- 1980
- Lot size
- 0.81 lot acres
- Property size
- 8,930 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional 8,930 square foot shopping center in Wichita, Kansas, presents a compelling value-add opportunity. Currently 100% occupied with eight tenants under NNN leases, the property boasts a strong in-place cash flow with significant upside potential through rent increases. The stabilized investment features a 7.61% cap rate and a pro-forma cap rate of 10.30%, reflecting the potential for increased profitability. Located at 927 S Rock Rd, Wichita, KS 67207, this single-story, 1980-built center sits on a 0.81-acre lot and benefits from high visibility on a busy thoroughfare with over 31,527 vehicles passing daily. Its strategic location between major roadways and its proximity to a large population base (over 170,000 residents within a 5-mile radius with an average household income of $75,000) ensures consistent customer traffic and tenant synergy. The property's daily needs and e-commerce tenant mix makes it an attractive 1031 exchange option. The asking price is $1,300,000 ($145.58/sq ft), and the property's NOI is $98,868. The property may also include a seasoned property manager. This is a rare opportunity to acquire a well-positioned, high-performing retail asset with substantial growth potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Wichita
- County
- Sedgwick
- State
- Kansas
- Longitude
- -97.2444
- Latitude
- 37.6714
