Add Listing
    For Lease
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2949 S Kansas Ave Topeka, KS 66611

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Former restaurant space available for rent in central location.

    Type:Retail
    Added:
    Apr 19, 2022
    Days on Market:
    1473
    Last Refresh:
    Mar 17 at 1:18 pm

    Property Features for 2949 S Kansas Ave

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Building Details

    Year Built
    1967

    Spaces For Lease

    at 2949 S Kansas Ave Contact us

    $9 /Mo

    Size
    4,337 SF
    Type
    Retail
    Contact us

    We can help!

    Listing Contact
    Mark Rezac

    Listing agent Mark Rezac License #KS 00045158

    Listing office Kansas Commercial Real Estate Services Inc

    Listing date Apr 19, 2022

    Source Crexi

    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

    Overview

    Retail Space on Kansas Avenue

    This former restaurant space is available for rent in a central location on Kansas Avenue, near 29th Street. The property is situated close to numerous local and national restaurants, retailers, and businesses. The owner intends to provide the tenant with a vanilla shell, which includes a new HVAC system, new electrical services, and plumbing in working order or new plumbing.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop 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
    -95.6824424
    Latitude
    39.0132683

    Nearby Similar for Lease

    • $17 SF/Yr

      Retail Space on Wanamaker Road

      Prime retail space in Topeka's busiest corridor, excellent condition.
      1530 SW Wanamaker Rd., Topeka, KS 66604
      View Details
    • $1,200/Mo

      Topeka Flex Space For Lease

      1,200 sq ft flex space with garage door.
      710 SE 70th St, Topeka, KS
      View Details
    • Contact for pricing

      Dock-High Warehouse with Office Space

      Warehouse with office, break room, dock doors, and trailer parking.
      929 SW University Blvd, Topeka, KS 66619
      View Details
    • Contact for pricing

      Kansas Retail Suites For Rent

      In-store retail and office suites available in Kansas Dillons stores.
      5311 SW 22nd Pl, Topeka, KS 66614
      View Details
    • Contact for pricing

      In-Store Suites in Kansas Dillons

      In-store office/retail suites available in various Kansas Dillons locations.
      5311 SW 22nd Pl, Topeka, KS 66614
      View Details
    • $6 SF/Yr

      Industrial Space Available For Lease

      Industrial property offering 4800 square feet for lease.
      4145 NW 25th St, Topeka, KS
      View Details
    • $1,400/Mo

      Retail Space For Rent

      Retail space available with high traffic count and great visibility.
      708-718 SW Gage Blvd, Topeka, KS
      View Details
    • $6 SF/Yr

      Topeka Retail Space Available

      Retail space available for lease in Topeka, Kansas.
      405 SE 10th Ave, Topeka, KS
      View Details
    • $8 SF/Yr

      Retail Space in Topeka, Kansas

      Retail space available for lease in Topeka, Kansas.
      4002 SW Huntoon St, Topeka, KS
      View Details
    • $13 SF/Yr

      Office Space Available For Rent

      1370 square feet office space for rent in Topeka.
      2900 SW Wanamaker Dr, Topeka, KS
      View Details
    • Contact for pricing

      Kansas Retail Suites For Rent

      In-store retail suites available within Dillons Grocery Stores.
      5311 SW 22nd Pl, Topeka, KS 66614
      View Details
    • $1,500/Mo

      Topeka Warehouse with Dock Doors

      Warehouse space featuring dock doors and office space for lease.
      6800 SE Evans St, Topeka, KS
      View Details

    FAQs

    What type of property is this?
    Retail space - Former restaurant space available for rent in central location.
    Where is this retail space located?
    The property is located at 2949 S Kansas Ave Topeka, KS.
    What is the lease rate?
    The lease rate is $9 SF/Yr.
    What are key features of this property?
    This property features: Great central location on Kansas Avenue, near 29th Street.; Vanilla shell provided by owner, ready for customization.; New HVAC system included.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Mark Rezac
    Real Estate License ID: KS 00045158
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!