Corner Warehouse with Loading
For Sale
Contact for pricing
1435 SE Madison ST, Topeka, KS 66607
Vacant industrial space includes a garage, upstairs loft, bathroom, and concrete loading dock.
Property Size3,277 SF
Price / SF$40.59
Days on Market89
Property Features for 1435 SE Madison ST
General Information
Standard status
Active
Size
3,277 SF
Property subtype
Industrial, Office, Retail
Zoning
I-1 Light Industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Warehouse Space
3,200 SF
Building Details
Year Built
1920
Listing Agency:
Platinum Realty LLC
(785) 215-9513
Listed By:
Tyler Frank · License #00237237
Source:
Crexi
Added: Jun 4
Changed: Aug 30
Last Checked: Aug 30 at 8:54AM
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 Platinum Realty LLC
Investment Insights
Based on property information with market context.
Built in 1920, this 3,277-square-foot warehouse offers a flexible industrial layout with a garage area, bathroom, and loft space on the upper level. The building is vacant and available for immediate occupancy, with a concrete loading dock supporting material movement and receiving needs.
The property occupies a corner lot with frontage along two sides. Its setting is a few blocks from the I-70 entrance and the downtown area, providing convenient access to both regional routes and central Topeka. I-1 Light Industrial zoning supports the property’s industrial classification, while the existing configuration can accommodate an owner-user or rental occupancy.
The property occupies a corner lot with frontage along two sides. Its setting is a few blocks from the I-70 entrance and the downtown area, providing convenient access to both regional routes and central Topeka. I-1 Light Industrial zoning supports the property’s industrial classification, while the existing configuration can accommodate an owner-user or rental occupancy.
Key Highlights
- 3,277‑square‑foot warehouse built in 1920
- I‑1 Light Industrial zoning
- Corner lot with frontage on two sides
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
$5,595
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
4.21%
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%
$111,900
$111.9K
Cap Rate 7%
$79,929
$79.9K
Cap Rate 9%
$62,167
$62.2K
Market Conditions
NOI Build-Up for 3,277 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
$7.1K $2.16/SF
− Vacancy
−$495 −$0.15/SF
EGI
$6.6K $2.01/SF
− OpEx
−$987 −$0.30/SF
NOI
$5.6K $1.71/SF
Area
Topeka, KS
Vacancy
7.00%
Lease Rate
$2.16 /SF/Yr
Expense Ratio
15.00%
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%
$111,900
Cap Rate 7%
$79,929
Cap Rate 9%
$62,167
Alternative Uses
Best Use
Warehouse
$79.9K
$69.9K – $93.3K
NOI $5,595 @ 7.0% cap · market cap 4.21%
Second Best
—
—
no second resolved use
Theoretical Best
Self Storage
$369.6K
$323.4K – $431.3K
NOI $25,875 @ 7.0% cap · market cap 19.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
606
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 66607, KS
10,414
Population
3,933
Households
2.6
Avg Household Size
34
Median Age
7%
College-Educated
81%
High-School Grad
7.0 sq mi
ZIP Area
1,488
Density / Sq Mi
$28,791
Median Household Income
$27,606
Median Earnings
$804
Median Rent
$45,600
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- AEOLIAN Mini-Warehouse & Storage — 1000 SE 10th Ave #1, Topeka, KS 66612
- Topeka Terminal LLC — 610 SE 10th Ave, Topeka, KS 66607
- Public Storage — 710 SE 8th Ave, Topeka, KS 66607
Frequently Asked Questions
What type of property is this?
Warehouse - Vacant industrial space includes a garage, upstairs loft, bathroom, and concrete loading dock.
Where is this warehouse located?
The property is located at 1435 SE Madison ST Topeka, KS.
What is the asking price?
The asking price for this property is $133,000.
What are key features of this property?
This property features: 3,277‑square‑foot warehouse built in 1920; I‑1 Light Industrial zoning; Corner lot with frontage on two sides
