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Village of Carriage Parkway Center 3 Retail Properties Offered at $7,950,000 in Wichita, KS
Investment Highlights
- Carriage at Village Parkway is a true value-add opportunity the new investor the ability to increase occupancy and income through lease-up.
- The Subject Property is located off Central Avenue (31,487 VPD), which is a main thoroughfare road within the overall trade area and leads directly in
- Located 1.5 Miles from Wichita State University
- Above Market Return - Carriage at Village Parkway is priced at a proforma cap rate of 16%+ once fully leased
- Located within 1 mile of US Route 400 (77,000 VPD)
- There are over 214,980 permanent residents living within a 5 mile radius of the Subject Property
Executive Summary
Value-Add Investment Opportunity / Below Replacement Costs
» Carriage at Village Parkway allows the new investor the ability to increase occupancy and income through
leaseup
» Above Market Return - Carriage at Village Parkway is priced with a proforma cap rate of 16%+ once fully leased
High Traffic / Main Thoroughfare Location
» The Subject Property is located off Central Avenue (31,487 VPD), which is a main thoroughfare road within the overall trade area and leads
directly into Downtown Wichita
» Located within 1 mile of US Route 400 (77,000 VPD)
Ideally Located Shopping Destination - Near Downtown, Airport, and Wichita State University
» Located 1.5 Miles from Wichita State University
» Located 3 Miles from Downtown Wichita
» Located 8 Miles from Dwight D. Eisenhower National Airport
» Carriage at Village Parkway allows the new investor the ability to increase occupancy and income through
leaseup
» Above Market Return - Carriage at Village Parkway is priced with a proforma cap rate of 16%+ once fully leased
High Traffic / Main Thoroughfare Location
» The Subject Property is located off Central Avenue (31,487 VPD), which is a main thoroughfare road within the overall trade area and leads
directly into Downtown Wichita
» Located within 1 mile of US Route 400 (77,000 VPD)
Ideally Located Shopping Destination - Near Downtown, Airport, and Wichita State University
» Located 1.5 Miles from Wichita State University
» Located 3 Miles from Downtown Wichita
» Located 8 Miles from Dwight D. Eisenhower National Airport
Property Facts
| Price | $7,950,000 | Status | Active |
| Price / SF | $66.10 / SF | Number of Properties | 3 |
| Sale Condition | 1031 Exchange | Individually For Sale | 0 |
| Cap Rate | 1.64% | Total Building Size | 120,266 SF |
| Sale Type | Investment NNN | Total Land Area | 12.31 AC |
| Price | $7,950,000 |
| Price / SF | $66.10 / SF |
| Sale Condition | 1031 Exchange |
| Cap Rate | 1.64% |
| Sale Type | Investment NNN |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 120,266 SF |
| Total Land Area | 12.31 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Bldg 1
650 N Carriage Pky, Wichita, KS 67208 |
Retail | 78,531 SF | 1984 | - |
|
Bldg 1
625 N Carriage Pky, Wichita, KS 67208 |
Retail | 37,029 SF | 1984 | - |
|
Bldg. 2
555 N Carriage Pky, Wichita, KS 67208 |
Retail | 4,706 SF | 1986 | - |
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