550 Oliver StWichita, KS 67218

For Sale
$650,000

High-yield retail strip center, prime Wichita location.

Overview

Added:
Dec 11, 2024
Days on market:
92
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.

Highlights

  • $650,000 asking price for a 9,946 SF multi-tenant retail strip center in Wichita, KS.
  • High occupancy (90%), offering immediate potential for rental income growth.
  • Excellent location with high visibility near US Route 400 (115,000+ vehicles per day) and 16,000+ vehicles per day on Oliver Street, including pylon signage.
  • Strong demographics: 105,000+ residents within a 3-mile radius.
  • Strong local economy supported by Wichita's aerospace and manufacturing industries.

Location Insight

City
Wichita
County
Sedgwick
State
Kansas
Latitude
37.6637319
Longitude
-97.2814718
550 Oliver St, Wichita, Kansas

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550 Oliver St
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