Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Office Space Available for Rent Title is generated by Realmo AI

    245 N Waco Ave, Wichita, KS 67203

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office space available for lease in Wichita, Kansas.

    Type:OFFICE
    Property size:
    2,988 SF
    Lot size:
    4.01 Acres
    Added:
    Nov 21, 2025
    Days on Market:
    172
    Last Refresh:
    Apr 5 at 8:09 pm

    Property Features for 245 N Waco Ave

    General Information

    Standard status
    Active
    Size
    2,988 SF
    Lot size
    4.01 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 245 N Waco Ave Contact us

    We can help!

    Listing Contact
    Patrick Ahern
    Patrick Ahern

    Listing agent Patrick Ahern License #SP00052327

    Listing office NAI Martens

    Listing date Nov 21, 2025

    Source Moodyscre

    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 NAI Martens

    HighLights

    • Office space available for lease
    • Located in Wichita, Kansas

    Overview

    This commercial property offers office units and spaces available for rent. The property provides 2988 square feet of space and is located at 245 N Waco Ave in Wichita, Kansas. The listing price is $21.
    Location Intelligence

    Current Use by Public Records

    Co-Immunity Foundation Charitable Organization SouthLaw, P.C. Law Firm Penner Lowe Law ... Law Firm Fair Market Health Marketing & Advertising Wildcat Resources, Inc. Oil And Gas Exploration Service

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Law Firm Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Wichita
    County
    Sedgwick
    State
    Kansas
    Longitude
    -97.3433
    Latitude
    37.6893

    Nearby Similar for Lease

    • $1,200/Mo

      Versatile Commercial Space in Wichita

      High-visibility commercial space, formerly a restaurant, ready for new ventures.
      3086 W 13th St N, Wichita, KS 67203-0000
      View Details
    • Contact for pricing

      Office/Warehouse Suite For Lease

      7,500 SF office/warehouse suite near Kellogg and Webb Road.
      9809 E. Orme, Wichita, KS 67207
      View Details
    • Contact for pricing

      Move-in Ready Office Suite

      Efficient office suite with workstations, private offices, and parking.
      11021 East 26th Street North, Wichita, KS 67226
      View Details
    • Contact for pricing

      Move-in Ready Office Suite Available

      Efficient office suite with workstations, private offices, and parking.
      11021 East 26th Street North, Wichita, KS 67226
      View Details
    • Contact for pricing

      Flex Building For Lease

      Freestanding flex building suitable for office, warehouse, retail, or showroom.
      1531 S Broadway Ave, Wichita, KS 67211
      View Details
    • Contact for pricing

      Free Standing Flex Building

      Flex building for lease, suitable for office, warehouse, retail.
      1531 S Broadway Ave, Wichita, KS 67211
      View Details
    • Contact for pricing

      Restaurant Space Near Kellogg & Rock

      Former Denny's restaurant space for lease in Wichita.
      8030 E. Kellogg, Wichita, KS 67206
      View Details
    • Contact for pricing

      Class A Office Space Available

      Class A office space in Wichita's Delano District.
      740 W 2nd St N, Wichita, KS 67203
      View Details
    • Contact for pricing

      Retail Space in Delano District

      Retail space with high ceilings and street visibility in Wichita.
      1001 W Douglas Ave, Wichita, KS 67213
      View Details
    • Contact for pricing

      Retail Space in Delano District

      Retail space with high visibility in a vibrant, historic district.
      1001 W Douglas Ave, Wichita, KS 67213
      View Details
    • $1,100/Mo

      Retail Space in Wichita, KS

      Retail space for rent with high traffic and office.
      608 S Oliver Ave, Wichita, KS 67218
      View Details
    • Contact for pricing

      New Construction Contractor Garage Suites

      New construction garage suites available for lease or sale.
      1451 N Broadway Ave, Wichita, KS 67214
      View Details

    FAQs

    What type of property is this?
    Office units - Office space available for lease in Wichita, Kansas.
    Where is this office units located?
    The property is located at 245 N Waco Ave Wichita, KS.
    What is the lease rate?
    The lease rate is $21 SF/Yr.
    What are key features of this property?
    This property features: Office space available for lease; Located in Wichita, Kansas
    (316) 253-0660 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Patrick Ahern
    Patrick Ahern
    Real Estate License ID: SP00052327
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    245 N Waco Ave, Wichita, KS
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!