Coffee Shop Building with Double
For Sale
$499,000
722 SW Kansas AVE, Topeka, KS 66603
COMMERCIAL - Topeka, KS
Property Size7,500 SF
Price / SF$66.53
Days on Market881
Property Features for 722 SW Kansas AVE
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-5 Commercial
Parking features
On Street
Subdivision
Original Town
Lot features
Downtown Area
Directions
10th Street to Kansas Avenue North to property - on East side of street.
Standard status
Active
APN
10931040070090000
Taxes and HOA fees
Tax Annual Amount
5178
Amenities
store front
double entry entrance
men and women's restroom
banquet/private party room
storage room
utility room
high efficiency HVAC
Building Details
Year built
1900
Floors in Building
2
Flooring type
Carpet, Wood
Roof type
Flat
Listing Agency:
Platinum Realty LLC
(888) 220-0988
Listed By:
Jim Davis · License #422001454
(785) 806-2370
Added: Apr 3, 2024
Changed: Aug 4
Last Checked: Aug 31 at 6:06AM
MLS# 233379
Copyright © 2026 Sunflower Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This coffee shop building offers a solid, well-maintained structure with a storefront and a double entry entrance. The property is presented as more than just a single use, with space described at over 7,500 SF and the layout noted as flexible for conversion to other business or professional uses. Restrooms are available on both levels for men and women, with a men’s and women’s restroom called out on each floor. Upstairs also includes a banquet/private party room that could serve as additional office space, along with storage and a utility room. High efficiency HVAC is noted on both levels. Flooring is listed as carpet and wood, and the roof is flat.
Located in the heart of downtown Topeka, the building is described as just a half block away from Evergy Plaza, and it is currently the home of the Classic Bean Downtown.
Parking is identified as on-street parking. The property is built with a two-level configuration that could support a main-level lobby plus additional office and/or apartment space upstairs, depending on the intended use.
Located in the heart of downtown Topeka, the building is described as just a half block away from Evergy Plaza, and it is currently the home of the Classic Bean Downtown.
Parking is identified as on-street parking. The property is built with a two-level configuration that could support a main-level lobby plus additional office and/or apartment space upstairs, depending on the intended use.
Key Highlights
- Over 7,500 SF commercial building with storefront and double entry entrance
- C‑5 Commercial zoning for flexible business and professional use
- Men’s and women’s restrooms on both levels
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
$43,470
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
8.71%
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%
$869,400
$869.4K
Cap Rate 7%
$621,000
$621.0K
Cap Rate 9%
$483,000
$483.0K
Market Conditions
NOI Build-Up for 7,500 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
$67.5K $9.00/SF
− Vacancy
−$5.4K −$0.72/SF
EGI
$62.1K $8.28/SF
− OpEx
−$18.6K −$2.48/SF
NOI
$43.5K $5.80/SF
Area
Topeka, KS
Vacancy
8.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
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%
$869,400
Cap Rate 7%
$621,000
Cap Rate 9%
$483,000
Alternative Uses
Best Use
Specialty Retail
$770.5K
$674.2K – $898.9K
NOI $53,933 @ 7.0% cap · market cap 10.81%
Second Best
Retail
$621.0K
$543.4K – $724.5K
NOI $43,470 @ 7.0% cap · market cap 8.71%
Theoretical Best
Self Storage
$846.0K
$740.3K – $987.0K
NOI $59,220 @ 7.0% cap · market cap 11.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,985
Businesses Nearby
67k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 75%
Shops & Services 21%
Hotels & Casinos 4%
McDonald's
Dining
27,176 visits/mo
0.4 miles
Wendy's
Dining
12,612 visits/mo
0.3 miles
BP
Shops & Services
7,494 visits/mo
0.2 miles
El Mezcal
Dining
6,677 visits/mo
0.5 miles
Sunoco
Shops & Services
4,476 visits/mo
0.4 miles
Demographics for 66603, KS
1,569
Population
1,151
Households
1.4
Avg Household Size
38
Median Age
17%
College-Educated
91%
High-School Grad
0.9 sq mi
ZIP Area
1,743
Density / Sq Mi
$38,992
Median Household Income
$25,556
Median Earnings
$593
Median Rent
$91,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Forward Nutrition — 929 S Kansas Ave, Topeka, KS 66612
- JUICED LLC — 800 SW Jackson St Ste 618 #559, Topeka, KS 66612
- Classic Bean — 722 S Kansas Ave, Topeka, KS 66603
- Adams Street Coffee + Bakery — 528 SE Adams St, Topeka, KS 66607
Frequently Asked Questions
What type of property is this?
Coffee shop - C-5 Commercial building with a storefront, double entry, and on-street parking in downtown Topeka.
Where is this coffee shop located?
The property is located at 722 SW Kansas AVE Topeka, KS.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Over 7,500 SF commercial building with storefront and double entry entrance; C‑5 Commercial zoning for flexible business and professional use; Men’s and women’s restrooms on both levels
