Wichita Behavioral Health
8623 E 32nd Street North Wichita Wichita, KS 67226
For Sale
Contact for pricing
Pending
Single-tenant medical asset with long-term lease and annual rent increases.
Property Size8,453 SF
Days on Market141
Property Features for 8623 E 32nd Street North Wichita
General Information
Standard status
Pending
Size
8,453 SF
Property subtype
Office
Building Details
Year Built
2007
Listing Agency:
JLL Chicago | North Riverside Plaza
Listed By:
Quinn VanZee · License #6501452646
Source:
Crexi
Added: Mar 10
Changed: Jul 6
Last Checked: Jul 27 at 1:13PM
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 8,453 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, providing 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.
- Long‑term lease in place with contractual 2.0% annual rent increases.
- Minimal landlord expense responsibilities.
Financial Insights For Office B
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 | $169.4k | $20.04 |
| − Vacancy | −$33.0k | −$3.91 |
| EGI | $136.4k | $16.13 |
| − OpEx | −$34.1k | −$4.03 |
| NOI | $102.3k | $12.10 |
8,453 SF · lease $20.04/SF/yr · vacancy 19.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.46M
$1.28M – $1.70M
NOI $102,274 @ 7.0% cap · market cap 4.65%
Second Best
Healthcare Medical
$1.43M
$1.25M – $1.67M
NOI $100,239 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,509 @ 7.0% cap · market cap 6.66%
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 medical asset with long-term lease and annual rent increases.
Where is this medical center located?
The property is located at 8623 E 32nd Street North Wichita Wichita, KS.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Single‑tenant behavioral health facility occupied by Soma Therapy.; Long‑term lease in place with contractual 2.0% annual rent increases.; Minimal landlord expense responsibilities.
