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Property profile & analytics
OFF-MARKET
Estimated value
$1,340,000
Office buildings
1635 Waterfront Pkwy Wichita, KS 67206-6624
Entity Owned
~
Est. High Equity
Property ID
US33-0239741
Property summary
AI-generated overview
This exceptional two-story office building, situated at 1635 N. Waterfront in Wichita, Kansas, offers a unique opportunity for businesses seeking flexible and modern workspace. The property, totaling 29,560 square feet, is located in the desirable Waterfront office park, conveniently near the intersection of 13th and Webb Road. Currently, there are 12,733 square feet of vacant space available, divisible into units ranging from a minimum of 2,530 square feet to a maximum contiguous space of 6,440 square feet. The building features a total of three suites across its two stories, providing a variety of options to suit diverse business needs. Built in 2006, this property sits on 2.11 acres of land and boasts ample parking for tenants and their guests. The property is zoned for limited industrial use, offering versatility for various business types. A minimum five-year lease term is required. This Sedgwick County location provides easy access to major thoroughfares and amenities, making it an ideal choice for businesses seeking a prominent and functional office space in Wichita.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2006
Construction
FRAME
Total area
29,560 SF
Lot
2.11 ac (91,912 SF)
APN
087-112-09-0-31-03-005.01
UPID
US33-0239741
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Kelly Ball, Keller Williams Signature Partners Real Estate Agency
-
Jessica Ball Dibble, Keller Williams Signature Partners Real Estate Agency
-
LPL Financial Financial Advisor
-
Sam Adedire Realtor Real Estate Agency
-
Keller Williams - Toni Titus Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$940k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.74M
Blend (final)
Blend
$1.34M
Owner & transaction history
Srb Kansas LLC
Srb Kansas LLC
since 2025
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.9M
+8.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Wichita submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wichita submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$940,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,760,000
Current use
MEDICAL BUILDING
$1,910,000
Change: +9% · Conversion: Easy
Blend value · Realmo final
$1.34M
Range $1.21M – $1.47M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$45 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$103,000
Tax year 2023
Assessed value
$858,175
Assessed 2024
Previous assessed
$894,150
-4.0% YoY
Effective rate
12.00%
On assessed value
Assessed land
$161,225
Assessed improvement
$696,950
Land market value
$644,900
Improvement market value
$2,787,800
Total market value
$3,432,700
Applied tax rate
6,702.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2006
Construction
FRAME
Heating
YES
Cooling
AC.PACKAGE
Stories
2
Bathrooms
2
Total area
29,560 SF
Lot
2.11 ac (91,912 SF)
APN
087-112-09-0-31-03-005.01
UPID
US33-0239741
Jurisdiction
SEDGWICK
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.8M
MEDICAL BUILDING
Est. value
$1.9M
OFFICE BUILDING Current
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2006
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
2
Bathrooms
2
Lot
2.11 ac
Current owner
From public records · entity-resolved
Srb Kansas LLC
Entity
Mailing address
1605 N WATERFRONT PKWY STE #100, WICHITA, KS 67206-6640
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 15, 2025
—
Srb Kansas LLC
—
Deed
related
$540,000 · Legacy Bank
Aug 1, 2025
—
Srb Kansas LLC
Vantage Point Waterfront Properties
Warranty Deed
$4,300,000 · Legacy Bank
Apr 29, 2010
—
J & D Home Buyers LLC
Michael Stephen Davis
Deed
$33,000 · Rose Hill Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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