Industrial Warehouse with
For Sale
Contact for pricing
134 NW Van Buren St, Topeka, KS 66603
Single-tenant warehouse with 12'–19' clear height, office space, and two drive-through loading doors.
Property Size4,878 SF
Lot Size0.26 Acres
Price / SF$69.70
Days on Market397
Property Features for 134 NW Van Buren St
General Information
Standard status
Active
Size
4,878 SF
Lot size
0.26 Acres
Property subtype
INDUSTRIAL
Zoning
D-3
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
19 ft
Drive-In Doors
2
Heavy Power
Yes
Additional Details
Business Included
No
Building Details
Year Built
1940
Year Renovated
2013
Listing Agency:
Colliers | Kansas City
(816) 531-5303
Listed By:
Doug Hedrick, SIOR, CCIM
(913) 205-7359
Source:
Moodyscre
Added: Aug 14, 2025
Changed: Sep 3
Last Checked: Sep 14 at 9:08AM
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/flex warehouse includes approximately 4,878± SF total building area with 325± SF of office space. Loading is provided by two drive-through doors, and the facility offers clear heights ranging from 12'6" to 19'. Electrical service includes 400 amps on 3-phase power. The property was built in 1940 and updated in 2013, and it features a newer roof.
In addition to the building, there is approximately 5,200± SF of outside storage that is partially fenced. The site totals 0.26± acres and is zoned D-3 (Downtown Mixed-Use District).
In addition to the building, there is approximately 5,200± SF of outside storage that is partially fenced. The site totals 0.26± acres and is zoned D-3 (Downtown Mixed-Use District).
Key Highlights
- 4,878± SF single‑tenant warehouse with 325± SF office space
- Clear height of 12'6" to 19' with 2 drive‑through loading doors
- 400 amps, 3‑phase electrical service
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
$22,753
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
6.69%
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%
$455,060
$455.1K
Cap Rate 7%
$325,043
$325.0K
Cap Rate 9%
$252,811
$252.8K
Market Conditions
NOI Build-Up for 4,878 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
$38.0K $7.80/SF
− Vacancy
−$3.0K −$0.62/SF
EGI
$35.0K $7.18/SF
− OpEx
−$12.3K −$2.51/SF
NOI
$22.8K $4.66/SF
Area
Topeka, KS
Vacancy
8.00%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
35.00%
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%
$455,060
Cap Rate 7%
$325,043
Cap Rate 9%
$252,811
Alternative Uses
Best Use
Flex RnD
$325.0K
$284.4K – $379.2K
NOI $22,753 @ 7.0% cap · market cap 6.69%
Second Best
Industrial
$96.9K
$84.8K – $113.1K
NOI $6,785 @ 7.0% cap · market cap 2.00%
Theoretical Best
Self Storage
$550.2K
$481.5K – $642.0K
NOI $38,517 @ 7.0% cap · market cap 11.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
19 ft
Clear height
2
Drive-in doors
Yes
Heavy power
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
639
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 66603, KS
1,569
Population
1,151
Households
1.4
Avg Household Size
38
Median Age
17%
College-Educated
91%
High-School Grad
0.9 sq mi
ZIP Area
1,743
Density / Sq Mi
$38,992
Median Household Income
$25,556
Median Earnings
$593
Median Rent
$91,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Single-tenant warehouse with 12'–19' clear height, office space, and two drive-through loading doors.
Where is this flex space located?
The property is located at 134 NW Van Buren St Topeka, KS.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: 4,878± SF single‑tenant warehouse with 325± SF office space; Clear height of 12'6" to 19' with 2 drive‑through loading doors; 400 amps, 3‑phase electrical service
