2614 21St StWichita, KS 67214

For Sale
Call for price
High-traffic retail center, value-add opportunity.

Overview

Added:
Dec 11, 2024
Days on market:
126
This exceptional 15,590 square foot retail center, located at 2614 E 21st St N in Wichita, Kansas, presents a compelling value-add investment opportunity. The property, built in 1998 and situated on a 44,311 square foot lot, features a single-story building with five units and ample parking for 50 vehicles. Currently boasting 83% occupancy, the center generates a net operating income (NOI) of $81,830, with a pro-forma NOI projected at $103,430. The property is zoned Limited Commercial (LC) and benefits from a high-traffic location near Wichita State University and I-135, offering excellent visibility and accessibility. Significant signage opportunities exist, both monument and building-mounted. The lease type is gross, with a remaining lease term of one year on the current tenants. This Class B property offers investors a 7.00% cap rate and significant potential for increased profitability through lease-up and rent optimization. The center's prime location and value-add potential make it an attractive investment in the thriving Wichita market.

Highlights

  • 15,590 SF retail center in Wichita, KS, offering a 7% cap rate.
  • Value-add opportunity with a current NOI of $81,830 and a pro-forma NOI of $103,430.
  • Multi-tenant property (5 units) with 83% occupancy and a remaining lease term of 1 year.
  • Located at 2614 E 21st St N, Wichita, KS 67214, near Wichita State University and I-135, offering high traffic and visibility.
  • Features 50 parking spaces and ample doorside parking.
  • Built in 1998, the single-story building sits on a 44,311 SF lot and is zoned LC (Limited Commercial).

Property Details for 2614 21St St

Property type
Lifestyle centers, Power centers
Square Feet
15,590 SF
Class
B
Year Built
1998
Buildings
1
Stories
1
Units
5

Location Insight

City
Wichita
County
Sedgwick
State
Kansas
Latitude
37.72276551
Longitude
-97.30648119
2614 21St St, Wichita, Kansas

FAQs

What type of property is this?
Lifestyle center - High-traffic retail center, value-add opportunity.
Where is the lifestyle center located?
The property is located at 2614 21St St Wichita, KS.
What are key features of this property?
This property features: 15,590 SF retail center in Wichita, KS, offering a 7% cap rate.; Value-add opportunity with a current NOI of $81,830 and a pro-forma NOI of $103,430.; Multi-tenant property (5 units) with 83% occupancy and a remaining lease term of 1 year.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
2614 21St St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message