12111 21St StWichita, KS 67206

For Sale
$3,450,000

High-Yield NNN Investment, 100% Occupied

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional investment opportunity presents a fully leased, multi-tenant retail building situated in Wichita, Kansas at 12111 E 21st St N, zip code 67206. The property, built in 2004 and extensively renovated in 2023, boasts 13,209 square feet on a 1.2-acre lot within the Limited Commercial zoning of Sedgwick County. Currently housing two tenants with a 100% occupancy rate, this shopping center generates a substantial Net Operating Income (NOI) of $259,864, translating to a compelling 7.53% capitalization rate. The asking price is $3,450,000, representing a price per square foot of $261.19. Leases are structured as Triple Net (NNN) with built-in rent bumps of 2.5% annually commencing October 2025, ensuring consistent income growth. The property features convenient door-side parking, an open floor plan conducive to various retail uses, and valuable basement storage space. Its prime location offers easy access to a vibrant mix of restaurants, medical offices, financial services, and shopping, and is nestled near affluent residential neighborhoods, schools, and churches in Northeast Wichita. This is a rare opportunity to acquire a high-performing, well-maintained retail asset in a desirable location with significant upside potential.

Highlights

  • Fully leased, 13,209 SF multi-tenant retail building in Wichita, KS.
  • 100% occupancy with strong NOI of $259,864 and a 7.53% cap rate.
  • Asking price: $3,450,000 ($261.19/SF).
  • Triple Net (NNN) leases with 2.5% annual rent increases starting October 2025.
  • Located on a 1.2-acre lot in a prime Northeast Wichita location with ample parking and basement storage.

Property Details for 12111 21St St

Property type
Lifestyle centers, Power centers
Square Feet
13,209 SF
Year Built/Renovated
2004/2023
Buildings
1
Lot Size (sq. ft)
52,272 SF
Units
2

Location Insight

City
Wichita
County
Sedgwick
State
Kansas
Latitude
37.7225159
Longitude
-97.1979851
12111 21St St, Wichita, Kansas

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12111 21St St
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