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Plaza West Shopping Center 2 Retail Properties Offered at $9,266,453 CAD in Wichita, KS
Investment Highlights
- Priced well below replacement cost ($54.74 PSF), Plaza West is offered at an attractive 8.18% CAP Rate with room to grow the NOI.
- The current vacancy in the submarket is 1.4%, well below market averages, which is a strong indicator that rents will be rising.
- Located at the lighted signalized intersection of N West Street and W Central Avenue with over 41,458 combined vehicles per day.
- The 121,382 SF shopping center is 82% occupied, offering immediate cash flow with upside through lease-up of remaining spaces at market rents.
- Plaza West rents are currently averaging $6.67 PSF, and the market rate is $11.55/SF (per CoStar), offering investors significant upside.
- Dillons Grocery, Walgreens, Wendy’s, Subway, and AutoZone, supporting consistent consumer traffic on the retail corridor.
Executive Summary
Sands Investment Group is pleased to exclusively offer for sale the 121,382 SF Plaza West Shopping Center located at 601 N West Street in Wichita, KS. Priced well below replacement cost at $54.74 PSF, Plaza West is offered at an attractive 8.18% CAP Rate with significant potential to grow NOI. The 121,382 SF shopping center is currently 82% occupied, providing immediate in-place cash flow with additional upside through the lease-up of remaining spaces at market rents, making this a compelling value-add retail investment opportunity.
In Cooperation With Sands Investment Group Kansas, LLC - Lic. #CO00002897 BoR: Max Freedman - Lic. KS #241927
In Cooperation With Sands Investment Group Kansas, LLC - Lic. #CO00002897 BoR: Max Freedman - Lic. KS #241927
Property Facts
| Price | $9,266,453 CAD | Number of Properties | 2 |
| Price / SF | $76.34 CAD / SF | Individually For Sale | 0 |
| Cap Rate | 8.18% | Total Building Size | 121,382 SF |
| Sale Type | Investment | Total Land Area | 19.47 AC |
| Status | Active |
| Price | $9,266,453 CAD |
| Price / SF | $76.34 CAD / SF |
| Cap Rate | 8.18% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 121,382 SF |
| Total Land Area | 19.47 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Plaza West Shopping Center
601 N West St, Wichita, KS 67203 |
Retail | 67,561 SF | 1960 | - |
|
Plaza West Shopping Center
601 N West St, Wichita, KS 67203 |
Retail | 53,821 SF | 1958 | - |
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Contacts
-
Ethan Offenbecher -
Baker Baine -
Zuhare Rizvon -
Max Freedman -
Sands Investment Group Austin, LLC
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Plaza West Shopping Center
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