Topeka Commercial Building For
For Sale
Contact for pricing
2925 SE Walnut Dr, Topeka, KS 66605
3,575 SF commercial building in established Topeka location.
Property Size3,575 SF
Lot Size0.61 Acres
Price / SF$167.41
Days on Market190
Property Features for 2925 SE Walnut Dr
General Information
Standard status
Active
Size
3,575 SF
Class
C
Lot size
0.61 Acres
Property subtype
Office, Retail
Zoning
OI2
Building Details
Year Built
2008
Listing Agency:
Kansas Commercial Real Estate Services Inc
(785) 272-2525
Listed By:
Mark Rezac · License #KS 00045158
Source:
Crexi
Added: Feb 2
Changed: Aug 8
Last Checked: Aug 8 at 6:43AM
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 Kansas Commercial Real Estate Services Inc
Investment Insights
Based on property information with market context.
Located at 2925 SE Walnut Rd in Topeka, Kansas, this single-story commercial building offers an excellent investment opportunity. The property encompasses 3,575+/- square feet and is situated on a 0.61-acre lot. Currently operating as a successful veterinary clinic, the building's single-level design ensures convenient access for both clients and staff. Ample on-site parking is available. The property is located in an established area of southeast Topeka, benefiting from its proximity to surrounding residential neighborhoods and nearby commercial businesses, which provides consistent traffic and strong visibility. This commercial asset offers strong long-term potential.
Key Highlights
- Currently operating as a successful veterinary clinic.
- Single‑story commercial building with 3,575+\/- SF of space.
- Located in an established southeast Topeka area with strong visibility.
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
$25,135
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
4.20%
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%
$502,700
$502.7K
Cap Rate 7%
$359,071
$359.1K
Cap Rate 9%
$279,278
$279.3K
Market Conditions
NOI Build-Up for 3,575 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
$45.0K $12.60/SF
− Vacancy
−$3.2K −$0.88/SF
EGI
$41.9K $11.72/SF
− OpEx
−$16.8K −$4.69/SF
NOI
$25.1K $7.03/SF
Area
Topeka, KS
Vacancy
7.00%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
40.00%
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%
$502,700
Cap Rate 7%
$359,071
Cap Rate 9%
$279,278
Alternative Uses
Best Use
Healthcare Medical
$359.1K
$314.2K – $418.9K
NOI $25,135 @ 7.0% cap · market cap 4.20%
Second Best
Office B
$173.4K
$151.7K – $202.3K
NOI $12,136 @ 7.0% cap · market cap 2.03%
Theoretical Best
Self Storage
$403.3K
$352.9K – $470.5K
NOI $28,228 @ 7.0% cap · market cap 4.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
138
Businesses Nearby
Under-served
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Family Pet Hospital — 2925 SE Walnut Dr, Topeka, KS 66605
Frequently Asked Questions
What type of property is this?
Medical Office Space - 3,575 SF commercial building in established Topeka location.
Where is this medical office space located?
The property is located at 2925 SE Walnut Dr Topeka, KS.
What is the asking price?
The asking price for this property is $598,500.
What are key features of this property?
This property features: Currently operating as a successful veterinary clinic.; Single‑story commercial building with 3,575+\/- SF of space.; Located in an established southeast Topeka area with strong visibility.
