Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Building on Kansas Avenue Title is generated by Realmo AI

    623 S Kansas Ave, Topeka, KS 66603

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

    Stand-alone retail building with basement and second floor.

    Type:Office, Retail
    Property size:
    4,500 SF
    Lot size:
    0.08 Acres
    Price / SF:
    $76/SF
    Added:
    Feb 2, 2026
    Days on Market:
    103
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for 623 S Kansas Ave

    General Information

    Standard status
    Active
    Size
    4,500 SF
    Lot size
    0.08 Acres
    Property subtype
    Office, Retail

    We can help!

    Listing Contact
    Josh Haith
    Josh Haith

    Listing agent Josh Haith License #2011012354

    Listing office Haith & Company Realtors

    Listing date Feb 2, 2026

    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 Haith & Company Realtors

    HighLights

    • 4,500 SF 1st Floor Retail Space
    • Stand‑Alone Retail Building
    • Located Directly Across from Evergy Plaza
    • Includes a 2,250 SF 2nd Floor
    • Features a 4,000 SF Basement
    • Building Dimensions: 25' Wide x 140' Deep

    Overview

    This stand-alone retail building, formerly David’s Jewelers, is available for sale. The property features 4,500 square feet of retail space on the first floor, with an additional 2,250 square feet on the second floor and a 4,000-square-foot basement. The building is located directly across from Evergy Plaza. The roof is approximately 20 years old. The parcel spans 0.08 acres, with the building measuring 25 feet wide by 140 feet deep. A gas meter is in place, although the service is currently disconnected. The property is located at 623 S Kansas Avenue in Topeka, KS 66603.

    Financial Insights

    Value Estimation Calculated for Retail

    Conservative
    $289.8K
    NOI $26,082 @ 9.00% cap · cautious / downside scenario
    Moderate
    $372.6K
    NOI $26,082 @ 7.00% cap · market / base-case scenario
    Aggressive
    $521.6K
    NOI $26,082 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Retail

    Component $ $/SF
    Gross rent $40.5k $9.00
    − Vacancy −$3.2k −$0.72
    EGI $37.3k $8.28
    − OpEx −$11.2k −$2.48
    NOI $26.1k $5.80
    4,500 SF · lease $9.00/SF/yr · vacancy 8.00% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Retail
    $372.6K
    $326.0K – $434.7K (±1% cap)
    NOI $26,082 @ 7.0% cap · market cap 7.56%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Self Storage
    $507.6K
    $444.2K – $592.2K (±1% cap)
    NOI $35,532 @ 7.0% cap · market cap 10.30%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    David's Jewelers (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Law Firm Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Topeka
    County
    Shawnee
    State
    Kansas
    Longitude
    -95.674162
    Latitude
    39.0509474

    Nearby Similar for Sale

    • $1,385,000
      11,600 SF

      Topeka Office/Warehouse on 12 Acres

      Versatile 11,600 SF office/warehouse on 12 acres in Topeka.
      5301 SW Topeka BLVD, Topeka, KS 66609
      View Details
    • $149,000
      1,600 SF

      Topeka Duplex: Investor Opportunity

      Side-by-side duplex with income potential in a convenient location.
      2921 SW Atwood AVE, Topeka, KS 66614
      View Details
    • $404,900

      Remodeled Fourplex Investment Opportunity

      Recently remodeled fourplex with income potential in Topeka, Kansas.
      1192 SW Hillsdale ST, Topeka, KS 66604
      View Details
    • $250,000

      Topeka Auto Repair Garage

      Two-bay auto repair garage in a convenient Topeka location.
      500 SE 29th ST, Topeka, KS 66605
      View Details
    • $125,000

      Updated Office Space For Sale

      Office space in high-traffic Topeka location, rented until 2028.
      5857 SW 29th ST, Topeka, KS 66614
      View Details
    • $225,000

      Topeka Office Space For Sale

      Office spaces in high-traffic area of SW Topeka near Wanamaker.
      5853 SW 29th ST, Topeka, KS 66614
      View Details
    • $110,000

      Topeka Office Space For Sale

      Office space in high-traffic area near Wanamaker corridor.
      5853 SW 29th ST, Topeka, KS 66614
      View Details
    • $165,000

      Topeka Triplex: Income Potential

      Fully rented triplex in Topeka with positive cash flow.
      615 SW High AVE, Topeka, KS 66606
      View Details
    • $275,000
      5,164 SF

      Topeka Mixed-Use Commercial Building

      Mixed-use building with retail, storage, tavern, and apartments.
      1834 NW Topeka Boulevard, Topeka, KS 66608
      View Details
    • $274,900
      1,900 SF

      Topeka Twin Home Near Amenities

      Updated twin home in west Topeka, close to amenities.
      1020 Red Oaks Place, Topeka, KS 66615
      View Details
    • $274,999
      2,437 SF

      Topeka Duplex with Finished Basement

      Well-maintained duplex with finished basement in southwest Topeka.
      2448 SW Golf View Court, Topeka, KS 66614
      View Details
    • $295,000

      Topeka Multifamily Investment Opportunity

      Three side-by-side duplexes, six units, fully occupied, income-producing.
      2104 SE California AVE, Topeka, KS 66605
      View Details

    FAQs

    What type of property is this?
    Storefront property - Stand-alone retail building with basement and second floor.
    Where is this storefront property located?
    The property is located at 623 S Kansas Ave Topeka, KS.
    What is the asking price?
    The asking price for this property is $345,000.
    What are key features of this property?
    This property features: 4,500 SF 1st Floor Retail Space; Stand‑Alone Retail Building; Located Directly Across from Evergy Plaza
    (913) 888-3456 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Josh Haith
    Josh Haith
    Real Estate License ID: 2011012354
    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

    Thank You for Inquiry
    623 S Kansas Ave, Topeka, KS 66603
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!