Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    727 Waco Ave Wichita, KS 67203
    Back to Search
    Property profile & analytics

    727 Waco Ave Wichita, KS 67203

    View on Map
    • Office properties & Spaces
    • 118,665 SF
    • 5.20 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • FedEx Drop Box / Postal Service / Courier Service
    • Maksimowicz Sheila C / Law Firm
    • Aston Carter / Employment Agency
    • Prairie View / Medical Clinic
    • Security 1st Exchange / Consultant / Real Estate Consultant

    Property Details for 727 Waco Ave

    Lot size
    5.20 lot acres
    Property size
    118,665 SF
    Property type
    Office properties & Spaces

    Description

    This exceptional Class A executive office space at 727 N Waco Ave, Wichita, KS 67203, offers a rare opportunity to lease a full floor in a prestigious building. The property boasts a total of 118,665 square feet, with 21,402 square feet currently available for lease. This single-tenant space provides flexibility, accommodating needs from 5,000 to 21,402 square feet. Enjoy stunning views of the Little Arkansas River, enhanced by the building's prime riverfront location. The building offers full-service amenities including 24-hour access, prominent street signage opportunities, and high-speed fiber optic internet service. Its convenient location places you near numerous established businesses in Old Town Wichita, including popular restaurants like Nifty Nuthouse and B&C Barbeque, attractions such as Exploration Place and the Pumphouse, and the easily accessible Riverside Park, all within a short distance. The surrounding area features a blend of residential and commercial growth, creating a vibrant and desirable location for your business. This is a unique chance to secure a sophisticated and well-appointed office space in a thriving Wichita neighborhood. The property sits on a 5.2-acre lot.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Wichita
    County
    Sedgwick
    State
    Kansas
    Longitude
    -97.3426
    Latitude
    37.6966

    Comparable in this City

    • Value Estimation by Request
      0.18 Acres

      824 Water St

      OFFICE (GENERAL) • 0.18 Acres
      824 Water St, Wichita, KS 67203
      View Details
    • Value Estimation by Request
      0.14 Acres

      515 Walnut St

      OFFICE (GENERAL) • 0.14 Acres
      515 Walnut St, Wichita, KS 67203-5936
      View Details
    • Value Estimation by Request
      0.16 Acres

      Wichita, KS 67203

      OFFICE (GENERAL) • 0.16 Acres
      Wichita, KS 67203
      View Details
    • Value Estimation by Request
      0.07 Acres

      Wichita, KS 67203

      OFFICE (GENERAL) • 0.07 Acres
      Wichita, KS 67203
      View Details
    • Value Estimation by Request
      0.24 Acres

      Wichita, KS 67203

      OFFICE (GENERAL) • 0.24 Acres
      Wichita, KS 67203
      View Details
    • Value Estimation by Request

      303 West St

      Coworking space
      303 West St, Wichita, KS 67203
      View Details

    Similar Nearby for Sale

    • $450,000
      5,435 SF

      Wichita Office Building For Sale

      Prime Wichita Office, 5,435 SF, $450K
      820 Main St, Wichita, KS 67203
      View Details
    • $1,750,000

      Fully Occupied Commercial Property For Sale

      Prime commercial property with steady income near Central Business District.
      807 North Waco Ave, Wichita, KS 67203
      View Details
    • Contact for pricing
      5,952 SF

      Office Building For Sale

      Office building with additional lot included, 5952 square feet.
      934 N Water St, Wichita, KS 67203
      View Details
    • Contact for pricing
      5,435 SF

      Remodeled Office Building For Sale

      Recently remodeled office building with exposed brick and central location.
      820 N Main St, Wichita, KS 67203
      View Details
    • $1,750,000
      19,824 SF

      Fully Leased Wichita Office Building

      19,824 SF Class B office building in Wichita, Kansas.
      807-815 N Waco Ave, Wichita, KS 67203
      View Details
    • Contact for pricing

      Ecco Plaza Office Space Available

      Office space for lease with private entrance off Main.
      604 North Main St, Wichita, KS 67203
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Office Space Available For Lease

      Office space for lease at 345 Riverview St, Wichita.
      345 Riverview St, Wichita, KS 67203
      View Details
    • $20 SF/Yr

      Class A Office Space Available

      Class A office space in Wichita's Delano District.
      740 W 2Nd St N, Wichita, KS 67203
      View Details
    • $18 SF/Yr
      5,463 SF

      Downtown Office Space with Parking

      Downtown office space with river views and dedicated free parking.
      345 Riverview St, Wichita, KS 67203
      View Details
    • Contact for pricing
      396 SF

      Restored Historic Delano Office Space

      Office space with original brick work, natural light, and parking.
      1029 W Douglas Ave, Wichita, KS 67203
      View Details
    • $12 SF/Yr

      Delano District Leasable Suites

      Leasable suites in Wichita's vibrant Delano District.
      718 W Douglas Ave, Wichita, KS 67203
      View Details
    • Contact for pricing

      Free-Standing Office Building For Rent

      Free-standing office building with parking, near the Central Business District.
      940 N Waco Ave, Wichita, KS 67203
      View Details
    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.
    727 Waco Ave
    Wichita, KS 67203
    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
    727 Waco Ave, Wichita, KS, 67203
    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!