Topeka Industrial Building with
For Sale
Contact for pricing
132 NW Van Buren St, Topeka, KS
17,937 SF industrial building with heavy power and cranes.
Property Size17,937 SF
Lot Size0.51 Acres
Price / SF$27.60
Days on Market363
Property Features for 132 NW Van Buren St
General Information
Standard status
Active
Size
17,937 SF
Lot size
0.51 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Colliers | Kansas City
(913) 205-7359
Listed By:
Doug Hedrick, SIOR, CCIM
(913) 205-7359
Source:
Moodyscre
Added: Aug 14, 2025
Changed: Jul 6
Last Checked: Aug 11 at 5:58AM
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 Colliers | Kansas City
Investment Insights
Based on property information with market context.
This industrial building offers a total area of approximately 17,937 square feet, including an office area of about 600 square feet. The structure features a main production area with a clear height of 28 feet 6 inches. It is equipped with bridge cranes of 5-ton, 7-ton, and 10-ton capacities, which span the length of the production area and facilitate external building loading. Loading is accommodated by 8 drive-in doors. The property includes heavy power electrical capabilities. Constructed in 1930, the building has undergone updates in the 1980s, 1990s, and 2020s. It is situated on a land size of approximately 0.52 acres and is zoned D-3 (Downtown Mixed-Use District).
Key Highlights
- Heavy Power Supply
- Multiple bridge cranes with 5‑ton, 7‑ton, and 10‑ton capacity covering the production area
- High Clearance of 28'6"** in the main production area
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
$24,951
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
5.04%
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%
$499,020
$499.0K
Cap Rate 7%
$356,443
$356.4K
Cap Rate 9%
$277,233
$277.2K
Market Conditions
NOI Build-Up for 17,937 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
$38.7K $2.16/SF
− Vacancy
−$3.1K −$0.17/SF
EGI
$35.6K $1.99/SF
− OpEx
−$10.7K −$0.60/SF
NOI
$25.0K $1.39/SF
Area
Topeka, KS
Vacancy
8.00%
Lease Rate
$2.16 /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%
$499,020
Cap Rate 7%
$356,443
Cap Rate 9%
$277,233
Alternative Uses
Best Use
Industrial
$356.4K
$311.9K – $415.9K
NOI $24,951 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Self Storage
$2.02M
$1.77M – $2.36M
NOI $141,631 @ 7.0% cap · market cap 28.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
639
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - 17,937 SF industrial building with heavy power and cranes.
Where is this manufacturing property located?
The property is located at 132 NW Van Buren St Topeka, KS.
What is the asking price?
The asking price for this property is $494,999.
What are key features of this property?
This property features: Heavy Power Supply; Multiple bridge cranes with 5‑ton, 7‑ton, and **10‑ton capacity** covering the production area; High Clearance of 28'6"** in the main production area
