Village at Carriage Parkway
At-A-Glance
Price: $17,100,000
PSF: $142
Net Operating Income: $1,281,966
Cap Rate: 7.2%
Proforma Cap Rate: 11.7%
Opportunity
Village of Carriage Parkway Shopping Center
Value-Add Investment (75% Leased) / 7.2% Cap Rate (In-Place)
Highlights
Value-Add Investment Opportunity / Below Replacement Costs ($142)
Carriage at Village Parkway is currently 75% occupied, allowing the new investor the ability to increase occupancy and income through leaseup
Above Market Return - Carriage at Village Parkway is priced at 7.2% cap rate (in-place), with a proforma cap rate of 11.7% 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
Infill / Dense Demographics
There are over 214,980 permanent residents living within a 5 mile radius of the Subject Property
Wichita Top Rankings
The Greater Wichita region is a region on the rise, regularly appearing at the top of national rankings across a wide range of industry and quality of life indicators.
#1 for Growth of Jobs Over the last 10 years; 2009-2019 (Brookings, 2020)
Top 10 in Growth of Business Productivity Over the last 10 years; 2009-2019 (Brookings 2020)
Named one of the Best-Ran Cities in the U.S. Based on financial stability, education, healthy, safety, economy, infrastructure and pollution (WalletHub 2023)
Wichita is the 4th Best City to Move to in 2024 based on housing, crime rates, air quality, quality of education, median income, employment rates, weather, entertainment establishments, average commute time and net migration to the city. (Forbes 2024)
