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    The Largest CRE Database in the US with Over 1 Million Listings

    8200 34Th St Wichita, KS 67226

    Sponsored
    For Lease
    $14 SF/Yr ($18,500 /Mo)

    Versatile Flex/R&D Space Available

    Lot size:
    15,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    421
    Northrock Business Park offers exceptional flex and R&D space in Sedgwick County. This single-story, Class B building, constructed in 1998 and renovated in 2020, totals 15,000 square feet and is divided into five suites. Currently, 3,000 square feet of space is immediately available, divisible into units as small as 3,000 square feet, with a maximum contiguous space of 3,000 square feet. The property features one drive-in door for convenient loading and unloading. Each suite offers a comprehensive layout including a reception area, private executive office, conference room, open office area with cubicles, a training room, and a break room. The warehouse space is climate-controlled for optimal working conditions. This is an excellent opportunity for businesses seeking flexible and functional space in a well-maintained building. The property is part of a larger business park encompassing 18 buildings and 300,000 square feet. Ideal for companies needing adaptable space to accommodate various needs. Inquire today to learn more about this prime location.

    Property Features for 8200 34Th St

    General Information

    Property type
    Life science properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    15,000 SF
    Class
    B
    Total Rate
    18500

    Building Details

    Year Built/Renovated
    1998/2020
    Stories
    1

    Spaces For Lease

    at 8200 34Th St, Wichita, KS 67226 Contact us
    Unit Suite 1209-1210

    $14 /Mo

    Size
    3,000 SF
    Contact us
    Unit 1401

    $17 /Mo

    Size
    1,500 SF
    Contact us

    We can help!

    Listing Contact
    Ross Way

    Learn more

    Property Insight Report

    HighLights

    • 15,000 SF industrial building, Class B, built in 1998, renovated in 2020.
    • Multiple tenants in a single‑story building with one drive‑in door.
    • 3,000 SF of vacant space available, divisible to 3,000 SF minimum.
    • Features include reception area, private office, conference room, open office area with cubicles, training room, and break room.
    • Located in Sedgwick County, Kansas.
    Property Profile Location Intelligence

    Current Use by Public Records

    Comfort Keepers Home ... Home Health Care Service Ricoh USA Inc (Bike/Boat/Book/etc) Store Pediatric Home Service- ... Home Health Care Service Angels Care Hospice Nursing Home Military Certification Office ... Federal Government Office

    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
    Wichita
    County
    Sedgwick
    State
    Kansas
    Longitude
    -97.2401091
    Latitude
    37.7465658

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    FAQs

    What type of property is this?
    Life science property - Versatile Flex/R&D Space Available
    Where is this life science property located?
    The property is located at 8200 34Th St Wichita, KS.
    What is the lease rate?
    The lease rate is $14-$17 SF/Yr.
    What are key features of this property?
    This property features: 15,000 SF industrial building, Class B, built in 1998, renovated in 2020.; Multiple tenants in a single-story building with one drive-in door.; 3,000 SF of vacant space available, divisible to 3,000 SF minimum.
    Request Owner's contact information
    8200 34Th St Wichita, KS 67226
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    Wichita, KS 67226
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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
    8200 34Th St Wichita, KS 67226
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    Listing Contact
    Ross Way
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