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1137 SW Wanamaker Road, Topeka, KS 37912
Crosswinds Commons shopping center for sale with 12.19 acres and a 126,120 sq ft building.
Property Size126,120 SF
Lot Size12.19 Acres
Price / SF$134.40
Days on Market113
Property Features for 1137 SW Wanamaker Road
General Information
Standard status
Active
Size
126,120 SF
Lot size
12.19 Acres
Property subtype
Retail
Listing Agency:
CENTURY 21 Sherlock Homes
(516) 459-5379
Listed By:
Roger Hart · License #NY
Source:
Crexi
Added: Apr 21
Changed: Aug 8
Last Checked: Jul 22 at 5:57PM
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 CENTURY 21 Sherlock Homes
Investment Insights
Based on property information with market context.
Crosswinds Commons is a shopping center available for sale, offering a 126,120 sq ft building on 12.19 acres. Financials provided include a rent roll of $1,703,477.00 and total operating expenses of $568,047.00, resulting in net operating income of $1,135,430.00.
The property is located at 1137 SW Wanamaker Road, Topeka, KS 37912. For financial information, contact Mr. Roger Hart at [email protected].
The property is located at 1137 SW Wanamaker Road, Topeka, KS 37912. For financial information, contact Mr. Roger Hart at [email protected].
Key Highlights
- Crosswinds Commons shopping center for sale on SW Wanamaker Road in Topeka, KS
- 12.19‑acre site with a 126,120 SF shopping center building
- Rent roll totals $1,703,477.00
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
$730,992
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%
$14,619,840
$14.6M
Cap Rate 7%
$10,442,743
$10.4M
Cap Rate 9%
$8,122,133
$8.1M
Market Conditions
NOI Build-Up for 126,120 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
$1.14M $9.00/SF
− Vacancy
−$90.8K −$0.72/SF
EGI
$1.04M $8.28/SF
− OpEx
−$313.3K −$2.48/SF
NOI
$731.0K $5.80/SF
Area
Topeka, KS
Vacancy
8.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
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%
$14,619,840
Cap Rate 7%
$10,442,743
Cap Rate 9%
$8,122,133
Alternative Uses
Best Use
Retail
$10.44M
$9.14M – $12.18M
NOI $730,992 @ 7.0% cap · market cap 4.31%
Second Best
—
—
no second resolved use
Theoretical Best
Self Storage
$14.23M
$12.45M – $16.60M
NOI $995,844 @ 7.0% cap · market cap 5.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
147
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Shawnee county dmv — 5938 SW 17th St SUITE 400, Topeka, KS 66604
Frequently Asked Questions
What type of property is this?
Shopping center - Crosswinds Commons shopping center for sale with 12.19 acres and a 126,120 sq ft building.
Where is this shopping center located?
The property is located at 1137 SW Wanamaker Road Topeka, KS.
What is the asking price?
The asking price for this property is $16,950,000.
What are key features of this property?
This property features: Crosswinds Commons shopping center for sale on SW Wanamaker Road in Topeka, KS; 12.19‑acre site with a 126,120 SF shopping center building; Rent roll totals $1,703,477.00
