645 Douglas AveWichita, KS 67202

  • Office properties
  • 36,702 SF
For Lease

Property Details for 645 Douglas Ave

Year built
2018
Lot size
0.46 AC
Property size (Sq ft)
36,702 SF
Property type
Office properties
Property subtype
Office buildings
APN
087-125-21-0-31-03-001.00-B
APU
087125210310300100B

Description

This exceptional commercial property, located at 645 E Douglas Ave in Wichita, Kansas, offers a diverse range of executive office spaces within a vibrant mixed-use development. The building, constructed in 2020, boasts 61,155 square feet across two stories, with a single elevator servicing the space. Units range from a minimum of 1,579 square feet to a maximum contiguous space of 7,723 square feet, with four spaces currently available, ranging from 1,200 to 15,071 square feet. The property sits on a 103,820 square foot lot and is zoned for Central Business District (CBD) use in Sedgwick County. Its strategic location directly north of Intrust Bank Arena provides unparalleled visibility and accessibility. The property benefits from the proximity to the newly renovated Naftzger Park, featuring outdoor seating, a dog park, a giant screen for public movie nights, and a pavilion for outdoor performances. Ample parking is available on-site, supplemented by over 600 public parking stalls nearby. This thriving downtown location is supported by significant recent investment, including $747 million in private investment and $92 million in public investment over the past 10 years, resulting in the addition of 4.6 million square feet of office space and 1,432 residential units since 2010. The area also boasts a strong retail sector, with $171 million in sales reported in 2020. The building's location within a mixed-use project incorporating apartments, office space, and retail opportunities ensures a dynamic and bustling environment. Contact us today to learn more about the available suites.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $5,656,644
    6.5%
    $5,221,517
    7%
    $4,848,552
  • Comparable approach

    Method
    Valuation
    Relative Method
    $4,415,984
    Geo Method
    $4,415,984
  • Alternative Use

    Use
    Valuation
    Residential
    $6,474,682
    Hospitality
    $5,930,774
    Educational
    $4,934,334
    Medical
    $5,104,033
    Retail
    $7,675,630
645 Douglas Ave, Wichita, Kansas

Location Insight

City
Wichita
County
Sedgwick
State
Kansas
Latitude
37.6857
Longitude
-97.3305
CBSA code
48620
CBSA name
WICHITA, KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$167,449
$25,100
$1,360,375
$1,385,475
-
$100,400
$5,441,500
$5,541,900

FAQs

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