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    Industrial Office Building with Fenced Yard Title is generated by Realmo AI

    2655 North Broadway Street, Wichita, KS 67219

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    For Lease
    $10 SF/Yr $30,007/Mo (calc)

    Industrial/office facility with 18 overhead doors, fenced paved yard, and major-street frontage for flexible tenant use.

    Type:IND, OFC
    Property size:
    33,435 SF
    Lot size:
    2.79 Acres
    Added:
    Oct 24, 2022
    Days on Market:
    1321
    Last Refresh:
    Jun 5 at 2:45 am

    Property Features for 2655 North Broadway Street

    General Information

    Standard status
    Active
    Size
    33,435 SF
    Lot size
    2.79 Acres
    Property subtype
    IND, OFC

    Spaces For Lease

    at 2655 North Broadway Street Contact us

    We can help!

    Listing Contact
    Henry Luu
    Henry Luu

    Listing agent Henry Luu

    Listing office Keller Williams Signature Partners

    Listing date Oct 24, 2022

    Source Realnex

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Signature Partners

    HighLights

    • 33,435 sq ft industrial/office building with 18 overhead doors
    • 2.79‑acre paved, fenced yard for tenant use
    • Approximately 421.18 ft frontage on Broadway Ave and 530 ft frontage on Market St
    • Zoned for General Commercial and Limited Industrial uses
    • Can be leased in its entirety or divisible
    • Close proximity to major Highway I‑135

    Overview

    The offering is an industrial/office building with a paved, fenced yard on a 2.79-acre site. The property includes approximately 33,435 square feet of space and features 18 overhead doors. It is available to lease in its entirety or in divisible configurations, and the site can also be redeveloped for retail use.

    The property is located at 2655 North Broadway Street in Wichita, KS, with approximately 421.18 feet of frontage to Broadway Ave and approximately 530 feet of frontage to Market St. Zoning supports General Commercial and Limited Industrial uses, and the location is described as being near major Highway I-135.

    This configuration can work well for users needing both office space and functional industrial access, supported by multiple overhead doors and the fenced, paved yard area. With options to lease the full building or divide it, the space can accommodate tenants seeking either a single-tenant setup or a multi-tenant arrangement consistent with the property’s divisible layout. The zoning also supports general commercial activity alongside limited industrial operations, with redevelop potential noted for retail.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Accounting Firm Skin Care Clinic

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

    Similar Places Nearby

    • Stellar Bartending — 3425 S Broadway, Wichita, KS 67219

    Location Insight

    • Map
    • Local Demand
    City
    Wichita
    County
    Sedgwick
    State
    Kansas
    Longitude
    -97.335929
    Latitude
    37.643108

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    FAQs

    What type of property is this?
    Flex space - Industrial/office facility with 18 overhead doors, fenced paved yard, and major-street frontage for flexible tenant use.
    Where is this flex space located?
    The property is located at 2655 North Broadway Street Wichita, KS.
    What is the lease rate?
    The lease rate is $10 SF/Yr.
    What are key features of this property?
    This property features: 33,435 sq ft industrial/office building with 18 overhead doors; 2.79‑acre paved, fenced yard for tenant use; Approximately 421.18 ft frontage on Broadway Ave and 530 ft frontage on Market St
    (316) 204-8279
    We can help!
    Listing Contact
    Henry Luu
    Henry Luu
    Learn More
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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.

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    2655 North Broadway Street, Wichita, KS 67219
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