Walgreens Single-Tenant Drug
For Sale
Contact for pricing
1001 SW Topeka Blvd, Topeka, KS 66612
Single-tenant retail property operating as a Walgreens in a C-4 Commercial District.
Property Size16,000 SF
Price / SF$167
Days on Market168
Property Features for 1001 SW Topeka Blvd
General Information
Standard status
Active
Size
16,000 SF
Total Parking Spaces
69
Property subtype
Retail
Zoning
C-4 Commercial District
Occupancy
100%
Investment Type
Redevelopment
Building Details
Year Built
1993
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Atlantic Capital Partners
Listed By:
Danielle Turpin · License #9569555
Source:
Crexi
Added: Mar 17
Changed: Aug 30
Last Checked: Aug 30 at 1:44PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Atlantic Capital Partners
Investment Insights
Based on property information with market context.
This single-tenant drug store contains 16,000 SF and operates under the Walgreens name. The property was constructed in 1993 and is classified within the C-4 Commercial District.
Located at 1001 SW Topeka Blvd in Topeka, Kansas, the asset offers an established retail format with a single occupant. Its size, use, and zoning provide a clear profile for parties evaluating a commercial drug store property.
Located at 1001 SW Topeka Blvd in Topeka, Kansas, the asset offers an established retail format with a single occupant. Its size, use, and zoning provide a clear profile for parties evaluating a commercial drug store property.
Key Highlights
- 16,000 SF single‑tenant drug store
- Walgreens occupies the property
- C‑4 Commercial District zoning
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
$115,056
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
4.31%
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%
$2,301,120
$2.3M
Cap Rate 7%
$1,643,657
$1.6M
Cap Rate 9%
$1,278,400
$1.3M
Market Conditions
NOI Build-Up for 16,000 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
$163.2K $10.20/SF
− Vacancy
−$9.8K −$0.61/SF
EGI
$153.4K $9.59/SF
− OpEx
−$38.4K −$2.40/SF
NOI
$115.1K $7.19/SF
Area
Topeka, KS
Vacancy
6.00%
Lease Rate
$10.20 /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%
$2,301,120
Cap Rate 7%
$1,643,657
Cap Rate 9%
$1,278,400
Alternative Uses
Best Use
Specialty Retail
$1.64M
$1.44M – $1.92M
NOI $115,056 @ 7.0% cap · market cap 4.31%
Second Best
Retail
$1.32M
$1.16M – $1.55M
NOI $92,736 @ 7.0% cap · market cap 3.47%
Theoretical Best
Self Storage
$1.80M
$1.58M – $2.11M
NOI $126,336 @ 7.0% cap · market cap 4.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,002
Businesses Nearby
44k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 99%
Shops & Services 1%
McDonald's
Dining
27,176 visits/mo
0.4 miles
Wendy's
Dining
12,612 visits/mo
0.4 miles
Domino's Pizza
Dining
2,675 visits/mo
0.3 miles
China Express
Dining
1,249 visits/mo
0.1 miles
Intrust Bank
Shops & Services
658 visits/mo
0.1 miles
Demographics for 66612, KS
2,097
Population
1,541
Households
1.4
Avg Household Size
43
Median Age
16%
College-Educated
86%
High-School Grad
1.1 sq mi
ZIP Area
1,906
Density / Sq Mi
$26,338
Median Household Income
$30,949
Median Earnings
$706
Median Rent
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Probulin — 1334 SW Topeka Blvd, Topeka, KS 66612
- Walgreens Pharmacy — 1001 SW Topeka Blvd, Topeka, KS 66612
- Kori Trussell, PharmD — 1001 SW Topeka Blvd, Topeka, KS 66612
- Michael G. Gleue, RPH — 1001 SW Topeka Blvd, Topeka, KS 66612
- Angela R. Lindemuth-Mcdonald, PHARM — 1001 SW Topeka Blvd, Topeka, KS 66612
Frequently Asked Questions
What type of property is this?
Drug store - Single-tenant retail property operating as a Walgreens in a C-4 Commercial District.
Where is this drug store located?
The property is located at 1001 SW Topeka Blvd Topeka, KS.
What is the asking price?
The asking price for this property is $2,672,000.
What are key features of this property?
This property features: 16,000 SF single‑tenant drug store; Walgreens occupies the property; C‑4 Commercial District zoning
