Wichita Behavioral Health Facility For
825 N Waco Avenue Wichita Wichita, KS 67203
For Sale
Contact for pricing
Pending
Single-tenant behavioral health facility in Wichita, Kansas.
Property Size9,203 SF
Days on Market141
Property Features for 825 N Waco Avenue Wichita
General Information
Standard status
Pending
Size
9,203 SF
Property subtype
Office
Building Details
Year Built
1981
Listing Agency:
JLL Chicago | North Riverside Plaza
Listed By:
Quinn VanZee · License #6501452646
Source:
Crexi
Added: Mar 10
Changed: Jul 6
Last Checked: Jul 25 at 6:53AM
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 JLL Chicago | North Riverside Plaza
Investment Insights
Based on property information with market context.
This single-tenant behavioral health facility, totaling 9,203 square feet, is located in Wichita, Kansas. The property is occupied by TP Soma Acquisition, LLC, operating as Soma Therapy, a behavioral health services provider specializing in mental healthcare. Founded in 2018, Soma Therapy operates five locations within the Wichita MSA, delivering therapy and psychiatric medication management for adults, children, couples, and families. In April 2025, Soma was acquired by Traverse Pointe Partners. The property benefits from a long-term lease with contractual 2.0% annual rent increases and minimal landlord expense responsibilities.
Key Highlights
- Single‑tenant behavioral health facility occupied by Soma Therapy, the largest mental health provider in the Wichita, Kansas MSA.
- Long‑term lease in place with contractual 2.0% annual rent increases.
- Minimal landlord expense responsibilities.
Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $198.8k | $21.60 |
| − Vacancy | −$23.9k | −$2.59 |
| EGI | $174.9k | $19.01 |
| − OpEx | −$70.0k | −$7.60 |
| NOI | $105.0k | $11.40 |
9,203 SF · lease $21.60/SF/yr · vacancy 12.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$1.50M
$1.31M – $1.75M
NOI $104,958 @ 7.0% cap · market cap 6.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.25M
$1.97M – $2.63M
NOI $157,703 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Medical center - Single-tenant behavioral health facility in Wichita, Kansas.
Where is this medical center located?
The property is located at 825 N Waco Avenue Wichita Wichita, KS.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Single‑tenant behavioral health facility occupied by Soma Therapy, the largest mental health provider in the Wichita, Kansas MSA.; Long‑term lease in place with contractual 2.0% annual rent increases.; Minimal landlord expense responsibilities.
