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    2025 SW Urish Rd Topeka, KS 66615

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    20,602 SF strip center in Topeka, Kansas.

    Property size:
    20,602 SF
    Lot size:
    2.85 Acres

    Property Features for 2025 SW Urish Rd

    General Information

    Standard status
    Active
    Size
    20,602 SF
    Lot size
    2.85 Acres

    Building Details

    Year built
    2006

    We can help!

    Listing Contact
    Craig Fuller
    Craig Fuller
    Source: Crexi

    Listing Agency: Marcus & Millichap - Columbus Listing Agent: Craig Fuller

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Topeka Strip Center For Sale

    This 20,602 square foot strip center is located in Topeka, Kansas. Constructed in 2006, the property is situated on a 2.85 acre lot. It features a mix of tenants including a bar/grill, liquor and convenience store, medical office, salon, home decor shop, tanning spa, grocery store, and donuts/coffee shop. The property offers potential for market rent upside, with rents averaging $11.85 per square foot. 36 percent of the gross leasable area, represented by five tenants, lack option terms, and the weighted average lease term is 1.63 years. There are immediate backfill opportunities, including the 2,311 square foot Sherwood Animal Clinic space and Suite #110, measuring 2,541 square feet. The seller is offering master-lease opportunities on both spaces. The property operates under favorable triple-net lease structures, with tenants reimbursing tax, CAM, and insurance expenses, as well as third-party management fees. The surrounding area has dense demographics, with a population of 5,115 within one mile, 38,616 within three miles, and 79,640 within five miles. The average household income in the area exceeds $103,000.
    Location Intelligence

    Current Use by Public Records

    Electronic Life Electronics & Wireless Store Baila Fitness Studio ... Gym & Fitness Center Sunsations SUN • SPRAY ... Tanning Salon K & K Liquor (Bike/Boat/Book/etc) Store Sherwood Animal Clinic Veterinary Clinic

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Topeka
    County
    Shawnee
    State
    Kansas
    Longitude
    -95.7816309
    Latitude
    39.0295903

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    FAQs

    What type of property is this?
    Strip mall - 20,602 SF strip center in Topeka, Kansas.
    Where is this strip mall located?
    The property is located at 2025 SW Urish Rd Topeka, KS.
    What are key features of this property?
    This property features: - High going-in yield offered well below replacement cost at $150 per square foot.; - Upside market to market rent opportunity: well-below market rents averaging only $11.85 per square foot; 36 percent of GLA/five tenants lack option terms.; - Immediate backfill opportunities: two spaces available for immediate lease-up, including end-cap space with drive-thru potential.
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    2025 SW Urish Rd Topeka, KS 66615
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    Topeka, KS 66615
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2025 SW Urish Rd Topeka, KS 66615
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    Listing Contact
    Craig Fuller
    Craig Fuller
    Real Estate License ID: 2008001551
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