Fully Renovated
For Sale
Contact for pricing
1931 Northeast Seward Avenue, Topeka, KS 66616
Storefront with a complete interior renovation, new HVAC, and upgraded power, plus dedicated off-street parking and a rear restroom.
Property Size2,199 SF
Price / SF$81.86
Days on Market61
Property Features for 1931 Northeast Seward Avenue
General Information
Standard status
Active
Size
2,199 SF
Class
B
Total Parking Spaces
4
Property subtype
Retail, Office, Industrial
Zoning
C1
Investment Type
Owner/User
Additional Details
Utilities to Site
Yes
Amenities
new HVAC system
upgraded 200-AMP 240V electrical service
updated facade
new windows and shades
private restroom
building signage
Building Details
Year Built
1960
Year Renovated
2026
Units
1
Listing Agency:
Keller Williams Realty Partner
Listed By:
Steve Mercurio, CCIM · License #00242670
(816) 517-2456
Source:
Crexi
Added: Jul 24
Changed: Sep 13
Last Checked: Sep 21 at 3:53AM
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 Keller Williams Realty Partner
Investment Insights
Based on property information with market context.
This fully renovated storefront is designed for immediate occupancy, with a complete interior renovation that includes brand-new sheetrock, finished surfaces, and a modern paint palette throughout. The rear of the space includes a private restroom.
Mechanical and electrical upgrades support modern operations, including a new HVAC system and an upgraded 200-AMP 240V service with industrial-grade outlets and dedicated disconnects. Exterior updates include a refreshed facade, new windows/shades, and a high-durability front entry, along with building signage.
Parking is included with 4 off-street dedicated parking spaces, plus a large additional lot included with the sale for extra parking or future development. The building was built in 1960 and totals 2,199 SF.
Mechanical and electrical upgrades support modern operations, including a new HVAC system and an upgraded 200-AMP 240V service with industrial-grade outlets and dedicated disconnects. Exterior updates include a refreshed facade, new windows/shades, and a high-durability front entry, along with building signage.
Parking is included with 4 off-street dedicated parking spaces, plus a large additional lot included with the sale for extra parking or future development. The building was built in 1960 and totals 2,199 SF.
Key Highlights
- Complete interior renovation with brand‑new sheetrock, expert finishes, and modern paint
- New HVAC system plus upgraded 200‑AMP 240V service with industrial‑grade outlets and dedicated disconnects
- Updated facade, new windows/shades, and new high‑durability front entry with building signage
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
$12,745
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
7.08%
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%
$254,900
$254.9K
Cap Rate 7%
$182,071
$182.1K
Cap Rate 9%
$141,611
$141.6K
Market Conditions
NOI Build-Up for 2,199 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
$19.8K $9.00/SF
− Vacancy
−$1.6K −$0.72/SF
EGI
$18.2K $8.28/SF
− OpEx
−$5.5K −$2.48/SF
NOI
$12.7K $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%
$254,900
Cap Rate 7%
$182,071
Cap Rate 9%
$141,611
Alternative Uses
Best Use
Retail
$182.1K
$159.3K – $212.4K
NOI $12,745 @ 7.0% cap · market cap 7.08%
Second Best
—
—
no second resolved use
Theoretical Best
Self Storage
$248.0K
$217.0K – $289.4K
NOI $17,363 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
173
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 66616, KS
5,610
Population
2,714
Households
2.1
Avg Household Size
42
Median Age
16%
College-Educated
87%
High-School Grad
6.1 sq mi
ZIP Area
920
Density / Sq Mi
$50,795
Median Household Income
$33,762
Median Earnings
$1,023
Median Rent
$79,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Storefront property - Storefront with a complete interior renovation, new HVAC, and upgraded power, plus dedicated off-street parking and a rear restroom.
Where is this storefront property located?
The property is located at 1931 Northeast Seward Avenue Topeka, KS.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: Complete interior renovation with brand‑new sheetrock, expert finishes, and modern paint; New HVAC system plus upgraded 200‑AMP 240V service with industrial‑grade outlets and dedicated disconnects; Updated facade, new windows/shades, and new high‑durability front entry with building signage
