Remodeled Office
For Sale
Contact for pricing
5841 SW 29th St, Topeka, KS 66614
Office suite in a well-located building near the Wanamaker corridor with 2024 interior remodel and surface parking.
Property Size1,150 SF
Price / SF$73.91
Days on Market228
Property Features for 5841 SW 29th St
General Information
Standard status
Active
Size
1,150 SF
Property subtype
Office
Zoning
PUD, M2
Investment Type
Owner/User
Additional Details
Highway Access
Yes
Building Details
Year Built
1984
Year Renovated
2017
Listing Agency:
Kansas Commercial Real Estate Services Inc
Listed By:
Mike Morse, SIOR · License #KS SP00046992
Source:
Crexi
Added: Jan 23
Changed: Sep 2
Last Checked: Sep 8 at 8:49AM
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.
This for-sale office suite is located within a well-located office building in southwest Topeka. The space has an interior remodel completed in 2024, making it a strong option for an owner-user or an investor seeking a turn-key suite within the building.
Surface parking is available, and the property provides easy access to I-470. Monthly association fees are $325 per month.
The suite is positioned for visibility and convenience within the office building setting, supported by straightforward access from the surrounding road network.
Surface parking is available, and the property provides easy access to I-470. Monthly association fees are $325 per month.
The suite is positioned for visibility and convenience within the office building setting, supported by straightforward access from the surrounding road network.
Key Highlights
- Office suite in a well‑located office building near the Wanamaker corridor in southwest Topeka
- Interior remodel completed in 2024
- Surface parking available
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
$3,904
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
4.59%
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%
$78,080
$78.1K
Cap Rate 7%
$55,771
$55.8K
Cap Rate 9%
$43,378
$43.4K
Market Conditions
NOI Build-Up for 1,150 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
$6.3K $5.52/SF
− Vacancy
−$1.1K −$0.99/SF
EGI
$5.2K $4.53/SF
− OpEx
−$1.3K −$1.13/SF
NOI
$3.9K $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%
$78,080
Cap Rate 7%
$55,771
Cap Rate 9%
$43,378
Alternative Uses
Best Use
Office B
$55.8K
$48.8K – $65.1K
NOI $3,904 @ 7.0% cap · market cap 4.59%
Second Best
—
—
no second resolved use
Theoretical Best
Self Storage
$129.7K
$113.5K – $151.3K
NOI $9,080 @ 7.0% cap · market cap 10.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office suite in a well-located building near the Wanamaker corridor with 2024 interior remodel and surface parking.
Where is this office units located?
The property is located at 5841 SW 29th St Topeka, KS.
What is the asking price?
The asking price for this property is $85,000.
What are key features of this property?
This property features: Office suite in a well‑located office building near the Wanamaker corridor in southwest Topeka; Interior remodel completed in 2024; Surface parking available
