Flex Space with Drive-In
New
For Sale
Contact for pricing
2300 SE Lakewood Blvd, Topeka, KS 66605
A commercial building combines finished office area with warehouse space, central HVAC, and dedicated loading access.
Property Size10,000 SF
Price / SF$60
Days on Market6
Property Features for 2300 SE Lakewood Blvd
General Information
Standard status
Active
Size
10,000 SF
Total Parking Spaces
18
Property subtype
Industrial
Listing Agency:
CBRE - Kansas City
(816) 756-3535
Listed By:
Ben Whetstone · License #MO 00247020
Source:
Crexi
Added: Aug 5
Changed: Aug 10
Last Checked: Aug 9 at 8:25AM
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 CBRE - Kansas City
Investment Insights
Based on property information with market context.
Located at 2300 SE Lakewood Blvd in Topeka, Kansas, this flex property offers 10,000+/- SF of building area, including 3,648+/- SF of office space. The configuration combines finished administrative space with warehouse area and includes three restrooms.
Warehouse functionality includes 16' clear height and two drive-in doors measuring 12' W x 14' H. The property also provides 18 parking spaces. Central HVAC serves the finished area, while ceiling-hung gas heaters serve the warehouse.
Warehouse functionality includes 16' clear height and two drive-in doors measuring 12' W x 14' H. The property also provides 18 parking spaces. Central HVAC serves the finished area, while ceiling-hung gas heaters serve the warehouse.
Key Highlights
- 10,000+/- SF building with 3,648+/- SF of office area
- 16' clear height in the warehouse
- 2 drive‑in doors measuring 12' W x 14' H
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
$46,644
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
7.77%
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%
$932,880
$932.9K
Cap Rate 7%
$666,343
$666.3K
Cap Rate 9%
$518,267
$518.3K
Market Conditions
NOI Build-Up for 10,000 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
$78.0K $7.80/SF
− Vacancy
−$6.2K −$0.62/SF
EGI
$71.8K $7.18/SF
− OpEx
−$25.1K −$2.51/SF
NOI
$46.6K $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%
$932,880
Cap Rate 7%
$666,343
Cap Rate 9%
$518,267
Alternative Uses
Best Use
Flex RnD
$666.3K
$583.1K – $777.4K
NOI $46,644 @ 7.0% cap · market cap 7.77%
Second Best
Office B
$485.0K
$424.4K – $565.8K
NOI $33,948 @ 7.0% cap · market cap 5.66%
Theoretical Best
Self Storage
$1.13M
$987.0K – $1.32M
NOI $78,960 @ 7.0% cap · market cap 13.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
234
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 66605, KS
19,531
Population
8,655
Households
2.3
Avg Household Size
37
Median Age
20%
College-Educated
91%
High-School Grad
10.0 sq mi
ZIP Area
1,953
Density / Sq Mi
$57,623
Median Household Income
$41,818
Median Earnings
$856
Median Rent
$157,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - A commercial building combines finished office area with warehouse space, central HVAC, and dedicated loading access.
Where is this flex space located?
The property is located at 2300 SE Lakewood Blvd Topeka, KS.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 10,000+/- SF building with 3,648+/- SF of office area; 16' clear height in the warehouse; 2 drive‑in doors measuring 12' W x 14' H
