Office Suite with Private
For Sale
Contact for pricing
5841-5897 SW 29th St, Topeka, KS 66614
Office suite includes reception area, five offices, and a private restroom with phone/voicemail system.
Property Size1,280 SF
Price / SF$54.69
Days on Market1329
Property Features for 5841-5897 SW 29th St
General Information
Standard status
Active
Size
1,280 SF
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Office Units
5
Amenities
fireplace
deck
private restroom
phone and voicemail system
Listing Agency:
Steve Ballou Real Estate LLC
Listed By:
Steve Ballou
(785) 224-0603
Source:
Moodyscre
Added: Jan 23, 2023
Changed: Sep 9
Last Checked: Sep 12 at 5:16AM
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 Steve Ballou Real Estate LLC
Investment Insights
Based on property information with market context.
This office suite is set up with a reception area and five offices, providing room for multiple workspaces. The layout also includes a private restroom, along with a phone and voicemail system for day-to-day communications. The property features two large offices, including one with a fireplace and deck.
Access is described as offering quick connectivity to I-470. The property is located one block east of Wanamaker.
Overall, the configuration supports a dedicated office environment with separate rooms for meetings and individual work.
Access is described as offering quick connectivity to I-470. The property is located one block east of Wanamaker.
Overall, the configuration supports a dedicated office environment with separate rooms for meetings and individual work.
Key Highlights
- Office suite with reception area plus 5 offices
- 2 large offices, including one with a fireplace and deck
- Private restroom in the suite
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
$4,345
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
6.21%
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%
$86,900
$86.9K
Cap Rate 7%
$62,071
$62.1K
Cap Rate 9%
$48,278
$48.3K
Market Conditions
NOI Build-Up for 1,280 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
$7.1K $5.52/SF
− Vacancy
−$1.3K −$0.99/SF
EGI
$5.8K $4.53/SF
− OpEx
−$1.4K −$1.13/SF
NOI
$4.3K $3.39/SF
Area
Topeka, KS
Vacancy
18.00%
Lease Rate
$5.52 /SF/Yr
Expense Ratio
25.00%
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%
$86,900
Cap Rate 7%
$62,071
Cap Rate 9%
$48,278
Alternative Uses
Best Use
Office B
$62.1K
$54.3K – $72.4K
NOI $4,345 @ 7.0% cap · market cap 6.21%
Second Best
—
—
no second resolved use
Theoretical Best
Self Storage
$144.4K
$126.3K – $168.5K
NOI $10,107 @ 7.0% cap · market cap 14.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
5
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
803
Businesses Nearby
Explore this area
Business Placement
Demographics for 66614, KS
31,332
Population
15,273
Households
2.1
Avg Household Size
41
Median Age
39%
College-Educated
97%
High-School Grad
24.1 sq mi
ZIP Area
1,300
Density / Sq Mi
$70,419
Median Household Income
$47,871
Median Earnings
$995
Median Rent
$181,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Office suite includes reception area, five offices, and a private restroom with phone/voicemail system.
Where is this office units located?
The property is located at 5841-5897 SW 29th St Topeka, KS.
What is the asking price?
The asking price for this property is $70,000.
What are key features of this property?
This property features: Office suite with reception area plus 5 offices; 2 large offices, including one with a fireplace and deck; Private restroom in the suite
