Ridgewood Medical Building | 4013 N Ridge Rd
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Ridgewood Medical Building 4013 N Ridge Rd
32,063 SF 84% Leased Office Building Wichita, KS 67205 £6,761,056 (£211/SF) 7.30% Net Initial Yield
Investment Highlights
- Invest in a fully occupied medical office building secured with long-term NNN lease terms in NW Wichita's thriving medical corridor.
- Large back lot provides investors with expansion and development opportunities, offering continued investment options for the future.
- Benefit from seamless connectivity to New Market Square, Downtown Wichita, and a smooth commute to Wichita Dwight D. Eisenhower National Airport.
- Built in 2006, the building features floor-to-ceiling windows, automated HVAC, key card entry, and a resurfaced lot with ample parking spaces.
- Within the NW Wichita medical corridor, the Ridgewood Medical Building is strategically positioned near the K 96 and Ridge Road intersections.
- Invest in a community primed for economic growth by taking advantage of Wichita's advanced healthcare services and vibrant residential communities.
Executive Summary
Ridgewood Medical Building at 4013 N Ridge Road in Wichita is a distinguished Class B, multi-tenant office building spanning 32,063 square feet. This property ensures stable returns by boasting a 100% occupancy rate with long-term NNN leases. Sun-drenched interiors with ample floor-to-ceiling windows complement high ceilings and flexible floor plans, creating spacious, multi-purpose spaces ideal for diverse tenant needs.
The building features modern amenities, including an automated HVAC system and convenient key card access, ensuring convenience and security. Recently resurfaced, the parking lot offers ample space for tenants, patients, and visitors with easy access to Ridge Road. A generously sized back lot also provides potential for future expansion or development.
In the thriving NW Wichita medical corridor, Ridgewood Medical Building benefits from high traffic counts at the Ridge Road and Kansas Highway 96 intersection, averaging over 20,000 vehicles daily. Noteworthy tenants such as Ridgewood Surgery Center, Ascension Medical Surgical Specialists, Wichita Dermatology, and Revive & Thrive Mental Wellness underscore its appeal as a hub for healthcare professionals.
4013 N Ridge Road enjoys connectivity to major hubs and amenities at New Market Square and Downtown Wichita, minutes from Wichita Dwight D. Eisenhower National Airpot (ICT). Investors will appreciate the 7.3% capitalization rate, offering a robust investment structure in an area projected to grow by 3.27% by 2029 within a 1-mile radius.
Wichita, the largest city in Kansas and central to a dynamic metropolitan area, is renowned for its advanced regional healthcare services, corporate headquarters, and vibrant community, drawing a diverse population across the nation. The Ridgewood Medical Building presents a prime opportunity to invest in a thriving market with substantial growth potential and enduring tenant demand.
The building features modern amenities, including an automated HVAC system and convenient key card access, ensuring convenience and security. Recently resurfaced, the parking lot offers ample space for tenants, patients, and visitors with easy access to Ridge Road. A generously sized back lot also provides potential for future expansion or development.
In the thriving NW Wichita medical corridor, Ridgewood Medical Building benefits from high traffic counts at the Ridge Road and Kansas Highway 96 intersection, averaging over 20,000 vehicles daily. Noteworthy tenants such as Ridgewood Surgery Center, Ascension Medical Surgical Specialists, Wichita Dermatology, and Revive & Thrive Mental Wellness underscore its appeal as a hub for healthcare professionals.
4013 N Ridge Road enjoys connectivity to major hubs and amenities at New Market Square and Downtown Wichita, minutes from Wichita Dwight D. Eisenhower National Airpot (ICT). Investors will appreciate the 7.3% capitalization rate, offering a robust investment structure in an area projected to grow by 3.27% by 2029 within a 1-mile radius.
Wichita, the largest city in Kansas and central to a dynamic metropolitan area, is renowned for its advanced regional healthcare services, corporate headquarters, and vibrant community, drawing a diverse population across the nation. The Ridgewood Medical Building presents a prime opportunity to invest in a thriving market with substantial growth potential and enduring tenant demand.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Medical
Building Size
32,063 SF
Building Class
B
Year Built
2006
Price
£6,761,056
Price Per SF
£211
Net Initial Yield
7.30%
NOI
£493,557
Percent Leased
84%
Tenancy
Multiple
Number of Floors
2
Typical Floor Size
16,032 SF
Building FAR
0.21
Lot Size
3.44 AC
Zoning
LC - Limited Commercial
Parking
86 Spaces (2.68 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Controlled Access
- Security System
- Signage
- Accent Lighting
- Central Heating
- High Ceilings
- Natural Light
- Suspended Ceilings
- Monument Signage
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
| Space | Size | Space Use | Condition | Available |
| 2nd Fl-Ste 210 | 5,133 SF | Office | - | Now |
2nd Fl-Ste 210
| Size |
| 5,133 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
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2nd Fl-Ste 210
| Size | 5,133 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2020 Population
4,177
29,143
101,660
2024 Population
4,575
29,793
101,148
Population Growth '20-'24
9.5%
2.2%
-0.5%
2020 Households
1,440
10,565
40,765
2024 Households
1,586
10,772
40,539
Household Growth '20-'24
10.1%
2.0%
-0.6%
Average Age
38
39
40
Median Household Income
$105,500
$90,872
$65,584
Daytime Employees
2,612
12,513
29,815
Total Businesses
318
1,472
4,028
College Degree + Higher
47%
44%
32%
$ values in USD
Nearby Amenities
Hospitals |
|||
|---|---|---|---|
| Ascension Via Christi St. Teresa | Acute Care | 14 min drive | 7.3 mi |
| Via Christi Hospital - Wichita | Acute Care | 15 min drive | 9.4 mi |
| Wesley Medical Center | Acute Care | 16 min drive | 11.9 mi |
Retail |
||
|---|---|---|
| Allstate Insurance Company | Insurance | 2 min walk |
| Speedy Cash | Check Cash/Quick Loans | 14 min walk |
Hotels |
|
|---|---|
| Candlewood Suites |
65 rooms
5 min drive
|
| Holiday Inn Express |
73 rooms
7 min drive
|
| Hampton by Hilton |
85 rooms
8 min drive
|
PROPERTY TAXES
| Parcel Number | 088-28-0-44-01-002.01 | Total Assessment | £816,238 (2023) |
| Land Assessment | £178,233 (2023) | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £638,005 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
088-28-0-44-01-002.01
Land Assessment
£178,233 (2023)
Improvements Assessment
£638,005 (2023)
Total Assessment
£816,238 (2023)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2024
Sale Advisor
Sale Advisor
Jason Gilstrap, Operations Manager
(316) 300-9444
Contact
Jason Gilstrap is the supervising broker with Premier Property Management. Premier Property Management is located in Wichita, KS where it was formed in 2006. Our firm of experienced property managers operate multi-family, commercial and hospitality projects in Kansas, Texas and Ohio. We distinguish ourselves by understanding the needs of local, regional and national clientele. This reflects our mature leadership team and experience with a full range of transactions. Our high level of service, institutional understanding and depth of knowledge delivers successful results for you, our client.
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Ridgewood Medical Building | 4013 N Ridge Rd
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