Lower-Level Office Space with
For Sale
$70,000
5885 SW 29th ST, Topeka, KS 66614
SINGLE_FAMILY - Topeka, KS
Property Size810 SF
Price / SF$86.42
Days on Market165
Property Features for 5885 SW 29th ST
General Information
Property type
Residential
Property subtype
Office
Zoning
O & I-1 Office and I
Parking
2
Parking features
Parking Lot
Basement
Partial, Finished
Subdivision
Foxcroft 4
Lot features
Subdivided
Directions
From the 5800 Block of SW 29th, enter into the Foxcroft 4 building complex, located just to the south of 29th street. Single office, on NW corner of the building, lower level.
Standard status
Active
APN
R60275
Taxes and HOA fees
Tax Annual Amount
2227
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Central, Natural Gas
Water source
Public
Amenities
natural light
Building Details
Flooring type
Carpet
Listing Agency:
ReeceNichols Topeka Elite · Reece & Nichols
(785) 246-6955
Listed By:
Andre Mehrens
(785) 221-1601
Added: Feb 27
Changed: Aug 1
Last Checked: Aug 11 at 10:06AM
MLS# 243259
Copyright © 2026 Sunflower Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This finished office space is located on the lower level of the building and includes 810 square feet of interior area. The space has windows that provide natural light, carpet flooring, and central heating fueled by natural gas. Parking is provided via a parking lot. The seller will leave desks, storage shelves, and file cabinets, and the office is described as ready for occupancy.
The property is at 5885 SW 29th ST in Topeka, Kansas, in Shawnee County. Utilities include public water and public sewer, and natural gas is listed as available. The zoning is O & I-1 Office and I.
Designed for everyday office use, the space is set up to support a professional work environment with furnishings and storage items remaining in place for the next occupant.
The property is at 5885 SW 29th ST in Topeka, Kansas, in Shawnee County. Utilities include public water and public sewer, and natural gas is listed as available. The zoning is O & I-1 Office and I.
Designed for everyday office use, the space is set up to support a professional work environment with furnishings and storage items remaining in place for the next occupant.
Key Highlights
- 810 square feet finished office space
- Lower‑level office with windows for natural light
- Seller will leave desks, storage shelves, and file cabinets
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$2,750
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.93%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$55,000
$55.0K
Cap Rate 7%
$39,286
$39.3K
Cap Rate 9%
$30,556
$30.6K
Market Conditions
NOI Build-Up for 810 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$4.5K $5.52/SF
− Vacancy
−$805 −$0.99/SF
EGI
$3.7K $4.53/SF
− OpEx
−$917 −$1.13/SF
NOI
$2.7K $3.39/SF
Area
Topeka, KS
Vacancy
18.00%
Lease Rate
$5.52 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$55,000
Cap Rate 7%
$39,286
Cap Rate 9%
$30,556
Alternative Uses
Best Use
Office B
$39.3K
$34.4K – $45.8K
NOI $2,750 @ 7.0% cap · market cap 3.93%
Second Best
—
—
no second resolved use
Theoretical Best
Self Storage
$91.4K
$80.0K – $106.6K
NOI $6,396 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
803
Businesses Nearby
Explore this area
Business Placement
Demographics for 66614, KS
31,332
Population
15,273
Households
2.1
Avg Household Size
41
Median Age
39%
College-Educated
97%
High-School Grad
24.1 sq mi
ZIP Area
1,300
Density / Sq Mi
$70,419
Median Household Income
$47,871
Median Earnings
$995
Median Rent
$181,500
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Lower-level office with natural light windows, central natural gas heat, and parking lot access in O & I-1 zoning.
Where is this office units located?
The property is located at 5885 SW 29th ST Topeka, KS.
What is the asking price?
The asking price for this property is $70,000.
What are key features of this property?
This property features: 810 square feet finished office space; Lower‑level office with windows for natural light; Seller will leave desks, storage shelves, and file cabinets
