Shopping Strip

2110 North Maize Road

2110 N Maize Rd, Wichita, KS 67212

Listing Price: $2,570,000

Cap Rate
7.66%
Gross SF
12,884
Rentable SF
12,884
Price/Gross SF
$199.47
Lot Size
1.80 acres
Year Built
1996

Investment Overview

The subject property consists of 100 percent occupied multi-tenant retail strip center. The property is located in the affluent intersection of Maize Rd and 21st Street in Northwest Wichita with over 42,000 VPD at the intersection. The property is a quarter mile from Walmart Supercenter, Sam’s Club, Target, Dillon’s (Kroger), Lowe’s and The New Market Square PowerCenter with dozens of national tenants. The subject shares an entrance with McDonald’s. The retail occupancy rate is 93 percent occupied in a one-mile radius. (Costar Analytics) The subject property was constructed in 1996 on approximately 1.08 acres of land and has approximately 12,884 square feet of rentable space. The exterior is high-end construction composed of brick and stucco with a pitched roof and large back-lit pylon sign showcasing all tenants. The center is currently being leased to American Automobile Association (AAA) with over 60 million members nationwide, Papa Murphy’s and its franchisees operate more than 1,300 locations and is the fifth-largest pizza chain in the U.S., Edward Jones has been with the center since 2007 and serves investment clients in the U.S. and Canada through its branch network of more than 14,000 locations, Nail Envy has been with the center since 2009, Alexandros Mexican Food has a drive-thru with two Wichita locations and Hemp Releaf is a CBD store with 3 area locations. All tenants have a triple-net lease and tenants pay for their pro-rata share of taxes, insurance, and common area maintenance. With the property being 100 percent occupied, the asset offers a true, year-one cash on cash return of 10.13 percent. The landlord is responsible for roof and structure. The property is professionally managed by a strong local company.

Investment Highlights

  • One Mile: Walmart Supercenter, Lowes, Kroger, Target, Ross
  • One Mile: Starbucks, Chipotle, Panera, Verizon, Ulta, Firestone
  • Proforma Cash-on-Cash Return: 10.13 Percent
  • 100 Percent Occupied
  • Affluent Demographics | Excellent Retail Corridor
  • Shares Entrance With McDonald's | Signalized Intersection

Exclusively Listed By

  • Barry Higgins

    Senior Vice President Investments

    Email Barry

    License(s): CO: EA748415

    Denver

  • Daniel Greenamyre

    Senior Associate

    (816) 410-1028

    Email Daniel

    License(s): KS: SP00236311

    Kansas City

Broker of Record

  • Colby Haugness

    First Vice President Investments

    License(s): KS: 00241410

    Kansas

Shopping Strip

2110 North Maize Road

Listing Price: $2,570,000

Cap Rate
7.66%
Gross SF
12,884
Rentable SF
12,884
Price/Gross SF
$199.47
Lot Size
1.80 acres
Year Built
1996

Investment Highlights

  • One Mile: Walmart Supercenter, Lowes, Kroger, Target, Ross
  • One Mile: Starbucks, Chipotle, Panera, Verizon, Ulta, Firestone
  • Proforma Cash-on-Cash Return: 10.13 Percent
  • 100 Percent Occupied
  • Affluent Demographics | Excellent Retail Corridor
  • Shares Entrance With McDonald's | Signalized Intersection

Investment Overview

The subject property consists of 100 percent occupied multi-tenant retail strip center. The property is located in the affluent intersection of Maize Rd and 21st Street in Northwest Wichita with over 42,000 VPD at the intersection. The property is a quarter mile from Walmart Supercenter, Sam’s Club, Target, Dillon’s (Kroger), Lowe’s and The New Market Square PowerCenter with dozens of national tenants. The subject shares an entrance with McDonald’s. The retail occupancy rate is 93 percent occupied in a one-mile radius. (Costar Analytics) The subject property was constructed in 1996 on approximately 1.08 acres of land and has approximately 12,884 square feet of rentable space. The exterior is high-end construction composed of brick and stucco with a pitched roof and large back-lit pylon sign showcasing all tenants. The center is currently being leased to American Automobile Association (AAA) with over 60 million members nationwide, Papa Murphy’s and its franchisees operate more than 1,300 locations and is the fifth-largest pizza chain in the U.S., Edward Jones has been with the center since 2007 and serves investment clients in the U.S. and Canada through its branch network of more than 14,000 locations, Nail Envy has been with the center since 2009, Alexandros Mexican Food has a drive-thru with two Wichita locations and Hemp Releaf is a CBD store with 3 area locations. All tenants have a triple-net lease and tenants pay for their pro-rata share of taxes, insurance, and common area maintenance. With the property being 100 percent occupied, the asset offers a true, year-one cash on cash return of 10.13 percent. The landlord is responsible for roof and structure. The property is professionally managed by a strong local company.

Exclusively Listed By

  • Barry Higgins

    Senior Vice President Investments

    Email Barry

    License(s): CO: EA748415

    Denver

  • Daniel Greenamyre

    Senior Associate

    (816) 410-1028

    Email Daniel

    License(s): KS: SP00236311

    Kansas City

Broker of Record

  • Colby Haugness

    First Vice President Investments

    License(s): KS: 00241410

    Kansas

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