Finished Office Space For
For Sale
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5885 Southwest 29th Street, Topeka, KS 66614
810 SF finished office space ready for occupancy.
Property Size810 SF
Price / SF$83.33
Days on Market180
Property Features for 5885 Southwest 29th Street
General Information
Standard status
Active
Size
810 SF
Total Parking Spaces
3
Property subtype
Office
Zoning
Office
Investment Type
Owner/User
Building Details
Year Built
1984
Units
1
Listing Agency:
Reecenichols Topeka Elite LLC
Listed By:
Andre Mehrens · License #KS S00224205
Source:
Crexi
Added: Mar 4
Changed: Aug 15
Last Checked: Aug 28 at 9:10PM
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 Reecenichols Topeka Elite LLC
Investment Insights
Based on property information with market context.
This 810 square foot finished office space presents an opportunity for professionals seeking their own office. The space is located on the lower level of a building and features windows that provide natural light. It is ready for occupancy and includes desks, storage shelves, and file cabinets, which the seller is willing to leave. Parking is available.
Key Highlights
- 810 sq ft finished office space ready for occupancy
- Ideal for work‑from‑home professionals or business owners
- Includes desks, storage shelves, and file cabinets
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
$2,750
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
4.07%
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%
$55,000
$55.0K
Cap Rate 7%
$39,286
$39.3K
Cap Rate 9%
$30,556
$30.6K
Market Conditions
NOI Build-Up for 810 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
$4.5K $5.52/SF
− Vacancy
−$805 −$0.99/SF
EGI
$3.7K $4.53/SF
− OpEx
−$917 −$1.13/SF
NOI
$2.7K $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%
$55,000
Cap Rate 7%
$39,286
Cap Rate 9%
$30,556
Alternative Uses
Best Use
Office B
$39.3K
$34.4K – $45.8K
NOI $2,750 @ 7.0% cap · market cap 4.07%
Second Best
—
—
no second resolved use
Theoretical Best
Self Storage
$91.4K
$80.0K – $106.6K
NOI $6,396 @ 7.0% cap · market cap 9.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 - 810 SF finished office space ready for occupancy.
Where is this office units located?
The property is located at 5885 Southwest 29th Street Topeka, KS.
What is the asking price?
The asking price for this property is $67,500.
What are key features of this property?
This property features: 810 sq ft finished office space ready for occupancy; Ideal for work‑from‑home professionals or business owners; Includes desks, storage shelves, and file cabinets
