Two-Tenant NNN
2905 Southwest Topeka Boulevard, Topeka, KS 66611
For Sale
Contact for pricing
A fitness club and bicycle retailer occupy the fully leased building under separate net leases.
Property Size39,266 SF
Lot Size4.03 Acres
Price / SF$137.07
Days on Market15
Property Features for 2905 Southwest Topeka Boulevard
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Net Operating Income
Financials
Asking Price
Cap Rate
Additional Details
Tenant in Place
Building Details
Buildings
Tenancy
Listing Agency:
Peranich Huffman Net Lease Group
Listed By:
Harrison Warr · License TX #773332
Source:
Crexi
Added: Oct 26
Changed: Nov 9
Last Checked: Nov 8 at 5:59PM
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 Peranich Huffman Net Lease Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The 39,266-square-foot property occupies 4.03 acres and is fully leased to Crunch Fitness and Capp’s Bike Shop. Crunch uses 30,954 square feet under a lease running through May 31, 2031, with two five-year renewal options. Capp’s occupies 8,312 square feet, with its lease extending to December 31, 2032, and one five-year option remaining. Both leases are NNN, with tenants covering their proportional shares of taxes, insurance, and common-area maintenance; the landlord’s stated obligations are limited to structural work and roof replacement.
Crunch Fitness is backed by a guarantee from Fitness Ventures, LLC, identified as the largest Crunch franchisee, with 115 clubs across 30 states as of May 2026. The broader Crunch system operates more than 550 gyms and serves 3.5 million members.
Crunch Fitness is backed by a guarantee from Fitness Ventures, LLC, identified as the largest Crunch franchisee, with 115 clubs across 30 states as of May 2026. The broader Crunch system operates more than 550 gyms and serves 3.5 million members.
Key Highlights
- 39,266‑square‑foot building on 4.03 acres
- Fully leased to Crunch Fitness and Capp’s Bike Shop
- Crunch Fitness occupies 30,954 square feet through May 31, 2031, with two 5‑year options
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$227,586
Cap Rate
4.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,551,720
$4.6M
Cap Rate 7%
$3,251,229
$3.3M
Cap Rate 9%
$2,528,733
$2.5M
Market Conditions
NOI Build-Up for 39,266 SF
Gross rent
$353.4K $9.00/SF
− Vacancy
−$28.3K −$0.72/SF
EGI
$325.1K $8.28/SF
− OpEx
−$97.5K −$2.48/SF
NOI
$227.6K $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 Rate 5%
$4,551,720
Cap Rate 7%
$3,251,229
Cap Rate 9%
$2,528,733
Alternative Uses
Best Use
Retail
$3.25M
$2.84M – $3.79M
NOI $227,586 @ 7.0% cap · market cap 4.23%
Second Best
—
—
no second resolved use
Theoretical Best
Self Storage
$4.43M
$3.88M – $5.17M
NOI $310,044 @ 7.0% cap · market cap 5.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
455
Businesses Nearby
182k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 72%
Shops & Services 17%
Groceries 9%
Electronics 2%
McDonald's
Dining
32,460 visits/mo
0.3 miles
Chick-fil-A
Dining
28,713 visits/mo
0.5 miles
Taco Bell
Dining
19,860 visits/mo
0.3 miles
Aldi
Groceries
16,047 visits/mo
0.2 miles
Dollar Tree
Shops & Services
14,451 visits/mo
0.2 miles
Demographics for 66611, KS
9,843
Population
4,814
Households
2
Avg Household Size
39
Median Age
32%
College-Educated
95%
High-School Grad
3.3 sq mi
ZIP Area
2,983
Density / Sq Mi
$54,612
Median Household Income
$36,823
Median Earnings
$963
Median Rent
$139,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
NNN property - A fitness club and bicycle retailer occupy the fully leased building under separate net leases.
Where is this nnn property located?
The property is located at 2905 Southwest Topeka Boulevard Topeka, KS.
What is the asking price?
The asking price for this property is $5,382,000.
What are key features of this property?
This property features: 39,266‑square‑foot building on 4.03 acres; Fully leased to Crunch Fitness and Capp’s Bike Shop; Crunch Fitness occupies 30,954 square feet through May 31, 2031, with two 5‑year options
