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    2300 N Lorraine St, Hutchinson, KS 67502

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    For Lease
    $5,000/Mo $13 SF/Yr (calc)

    COMMERCIAL - Hutchinson, KS

    Type:Office
    Property size:
    4,364 SF
    Added:
    Sep 30, 2025
    Days on Market:
    236
    Last Refresh:
    May 23 at 1:06 pm

    Property Features for 2300 N Lorraine St

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Zoning
    C3-Outdoor Commercial Di
    Parking
    15
    Parking features
    Parking Lot
    Basement
    Crawl Space
    Standard status
    Active
    APN
    1330502002026000
    Size
    4,364 SF

    Utilities

    Utilities
    Water Available

    Building Details

    Year built
    1935
    Flooring type
    Brick, Wood
    Building materials
    Wood Siding
    Roof type
    Composition

    We can help!

    Listing Contact
    MARIBETH REIMER

    Listing agent MARIBETH REIMER

    Listing office Landmark Commercial Real Estate KS

    Listing date Sep 30, 2025

    MLS# 53527

    Copyright © 2026 Mid-Kansas MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    This 4,364 square foot commercial building is available for lease and ideally suited for professional offices, retail, or medical use due to its proximity to Hutchinson's medical and health campuses. The space has been remodeled to provide a bright and fresh office environment, featuring newer wood floors and ample natural light. The layout includes a large front retail area, a large conference area, and a coffee bar and break area. There are three to four offices throughout the building. A small office on the southeast corner, with a separate entrance, could serve as an incubator office for additional income. The property includes a large parking lot with space for over 12 vehicles, and the parking lot has the potential for expansion. Entrances and exits are accessible from both East 23rd and North Lorraine. Traffic counts at the intersection of 23rd and Lorraine average 16,000 cars daily. A new YMCA is scheduled for completion in the spring of 2026. Several other businesses are located nearby, including The Alley, The Traveling Bowl, Kohl's, RCB Bank, and Kwik Shop. The zoning is C3-Outdoor Commercial District.
    Property Profile Location Intelligence

    Current Use by Public Records

    Re/Max Elite Real ... Real Estate Agency Liz Reese Real Estate Agency Valery Roberts-Ropp Re/Max ... Real Estate Agency Leon apartments Apartment Building Mandy Hicks, Platinum ... Real Estate Agency

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hutchinson
    County
    Reno
    State
    Kansas
    Longitude
    -97.903372
    Latitude
    38.079738

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    FAQs

    What type of property is this?
    Office units - Remodeled commercial space ideal for offices, retail, or medical.
    Where is this office units located?
    The property is located at 2300 N Lorraine St Hutchinson, KS.
    What is the lease rate?
    The lease rate is $5,000 /Mo.
    (620) 727-7806
    We can help!
    Listing Contact
    MARIBETH REIMER
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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