Plaza West Shopping Center – Wichita, KS

601 N West St, Wichita, KS 67203, USA

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.

  • High Yield With a Low Going-In Basis: 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.
  • Value-Add Opportunity: The 121,382 SF shopping center is 82% occupied, offering immediate cash flow with upside through lease-up of remaining spaces at market rents.
  • Low Vacancy Trade Area: The current vacancy in the submarket is 1.4%, well below market averages, which is a strong indicator that rents will be rising.
  • Below-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 through rent increases to market rates.
  • Great Access and Visibility: Located at the lighted signalized intersection of N West Street and W Central Avenue with over 41,458 combined vehicles per day, the property benefits from strong visibility and accessibility.
  • Nearby National Tenants Include: Dillons Grocery, Walgreens, Wendy’s, Subway, and AutoZone, supporting consistent consumer traffic on the retail corridor.
  • Strong Demographics: The property serves a dense trade area of over 189,000 residents within 5-miles with average household incomes approaching $73,345.
  • Strong Dollar Tree Location: Dollar Tree ranks in the top 79% nationally and top 89% in Kansas (per PlacerAI).

 

In Cooperation With Sands Investment Group Kansas, LLC – Lic. #CO00002897 BoR: Max Freedman – Lic. KS #241927

Price

$6,645,000

Cap Rate

8.18%

PREMISES

121,382 SF

List with SIG

Tap into the expertise of brokers who specialize in your property type.

Get In Touch