Former Medical Building in
For Sale
Contact for pricing
6730 SW 29th St, Topeka, KS 66614
Medical building with offices and front door parking for sale.
Property Size9,576 SF
Price / SF$146.20
Days on Market728
Property Features for 6730 SW 29th St
General Information
Standard status
Active
Size
9,576 SF
Class
C
Property subtype
Office
Zoning
PUD
Building Details
Year Built
1995
Listing Agency:
Kansas Commercial Real Estate Services Inc
Listed By:
Mike Morse, SIOR · License #KS SP00046992
Source:
Crexi
Added: Aug 15, 2024
Changed: Aug 8
Last Checked: May 19 at 9:09PM
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 former medical building features multiple offices, a reception area, and front door parking. It is situated at the intersection of 29th Street and Urish Road within the Mission Woods Office Park, offering visibility from 29th Street. The Mission Woods location is adjacent to a Dillons store and is surrounded by residential housing. The property has a size of 9576 square feet.
Key Highlights
- High visibility location on 29th Street in Mission Woods Office Park.
- Front door parking.
- Located in Mission Woods Office Park, adjacent to Dillons.
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
$67,327
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
4.81%
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%
$1,346,540
$1.3M
Cap Rate 7%
$961,814
$961.8K
Cap Rate 9%
$748,078
$748.1K
Market Conditions
NOI Build-Up for 9,576 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
$120.7K $12.60/SF
− Vacancy
−$8.4K −$0.88/SF
EGI
$112.2K $11.72/SF
− OpEx
−$44.9K −$4.69/SF
NOI
$67.3K $7.03/SF
Area
Topeka, KS
Vacancy
7.00%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
40.00%
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%
$1,346,540
Cap Rate 7%
$961,814
Cap Rate 9%
$748,078
Alternative Uses
Best Use
Healthcare Medical
$961.8K
$841.6K – $1.12M
NOI $67,327 @ 7.0% cap · market cap 4.81%
Second Best
Office B
$464.4K
$406.4K – $541.8K
NOI $32,509 @ 7.0% cap · market cap 2.32%
Theoretical Best
Self Storage
$1.08M
$945.2K – $1.26M
NOI $75,612 @ 7.0% cap · market cap 5.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
265
Businesses Nearby
Under-served
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Topeka Home Veterinary Services — 3220 SW Gainsboro Rd, Topeka, KS 66614
- Beuerlein Joe DVM — 3220 SW Gainsboro Rd, Topeka, KS 66614
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical building with offices and front door parking for sale.
Where is this medical office space located?
The property is located at 6730 SW 29th St Topeka, KS.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: High visibility location on 29th Street in Mission Woods Office Park.; Front door parking.; Located in Mission Woods Office Park, adjacent to Dillons.
