204 Southwest 5th Street Topeka, KS 66603

Located at 204 SW 5th Street, this prime downtown Topeka redevelopment opportunity is situated near the Kansas State Capitol. The site, approximately 30,000 square feet, is currently a paved surface parking lot. Zoned D1 – Planned Development District, it offers flexibility for commercial, residential, or mixed-use redevelopment. Its location in the downtown core, near state government offices, professional services, and association users, positions it favorably for office, residential, or mixed-use development catering to Capitol-related tenants. Area momentum is building with the recently approved $50 million luxury residential development “The Hutch,” planned a few blocks south near 6th & Van Buren. This development is projected to include approximately 192 residential units, ground-floor boutique retail, and amenity space, with construction expected to begin in Q3 2026. Potential incentive programs may include Neighborhood Revitalization Program (NRP), Downtown TIF participation, and potential Industrial Revenue Bond (IRB) financing, depending on project scope and City approval. The property currently generates parking income and may support interim holding strategies while redevelopment plans are finalized. Phase I and Phase II Environmental Site Assessment reports have been completed and are included in the listing documents. The property is currently publicly owned and tax-exempt; future property taxes will be determined following transfer to private ownership.