404 Central AveWichita, KS 67202

Property Details for 404 Central Ave

Year built

1968

Construction

FRAME

Lot size

0.15 AC

Property size (Sq ft)

2,400 SF

Property type

Office buildings

APN

087-125-16-0-33-11-006.00

APU

87125160331100600

Description

This exceptional 4,800-square-foot office space, located at 404 E Central Ave in downtown Wichita, Kansas, presents a unique leasing opportunity. The property, a two-story Class B building constructed in 1968 and completely renovated in 2023, offers a versatile layout suitable for a variety of businesses. The single-tenant space features modern amenities including four restrooms and a new HVAC system, ensuring year-round comfort and productivity. Ample parking is provided with 14 dedicated spaces. This prime downtown location offers excellent visibility and accessibility for clients and employees. The building sits within Sedgwick County and benefits from a strategic location within an Opportunity Zone, potentially offering tax advantages. The lease rate is $14 per square foot, with net, net, net (NNN) charges of $1.84 per square foot. Utilities are the responsibility of the tenant. The property includes comprehensive insurance coverage. This is a rare opportunity to secure a fully renovated, well-located office space in the heart of Wichita. The total building size is 4,800 square feet, all of which is currently vacant.

• CAP approach

  CAP return

  Valuation

  6%

  $369,897

  6.5%

  $341,443

  7%

  $317,054

• Comparable approach

  Method

  Valuation

  Relative Method

  $288,768

  Geo Method

  $288,768

• Alternative Use

  Use

  Valuation

  Residential

  $423,389

  Hospitality

  $387,822

  Educational

  $322,664

  Medical

  $333,761

  Retail

  $501,921

Location Insight

City

Wichita

County

Sedgwick

State

Kansas

Latitude

37.6938

Longitude

-97.3341

CBSA code

48620

CBSA name

WICHITA, KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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