West Topeka Office
For Sale
Contact for pricing
2121 SW Chelsea Dr, Topeka, KS 66614
Professional office building for sale or lease in West Topeka.
Property Size20,790 SF
Price / SF$88.99
Days on Market1033
Property Features for 2121 SW Chelsea Dr
General Information
Standard status
Active
Size
20,790 SF
Class
B
Property subtype
Office, Mixed Use
Occupancy
50%
Lease Type
NNN
Investment Type
Owner/User
Building Details
Year Built
1997
Tenancy
Multi
Listing Agency:
Foundations Commercial Real Estate
Listed By:
Kirsten Flory · License #SP00220332
(785) 766-6568
Source:
Crexi
Added: Dec 19, 2023
Changed: Oct 15
Last Checked: Oct 16 at 7:10AM
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 Foundations Commercial Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This professional office building, located in West Topeka off of 21st and Fairlawn, is available for sale or lease and offers close access to I-470. The property, with a size of 20790 square feet, could accommodate an owner/occupant, or the existing owner could remain as a tenant. The space features multiple entrances, sizeable open bullpen areas, private offices, storage, meeting/training space, and ample parking. Additionally, the building includes a former recording studio with high ceilings and a drive-in door for delivery access.
Key Highlights
- Prime location in West Topeka near 21st and Fairlawn with close access to I‑470.
- Flexible occupancy: suitable for owner/occupant or lease with existing owner as tenant.
- Versatile space: includes open bullpen areas, private offices, storage, and meeting/training space.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,578
Cap Rate
3.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,411,560
$1.4M
Cap Rate 7%
$1,008,257
$1.0M
Cap Rate 9%
$784,200
$784.2K
Market Conditions
NOI Build-Up for 20,790 SF
Gross rent
$114.8K $5.52/SF
− Vacancy
−$20.7K −$0.99/SF
EGI
$94.1K $4.53/SF
− OpEx
−$23.5K −$1.13/SF
NOI
$70.6K $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 Rate 5%
$1,411,560
Cap Rate 7%
$1,008,257
Cap Rate 9%
$784,200
Alternative Uses
Best Use
Office B
$1.01M
$882.2K – $1.18M
NOI $70,578 @ 7.0% cap · market cap 3.82%
Second Best
—
—
no second resolved use
Theoretical Best
Self Storage
$2.35M
$2.05M – $2.74M
NOI $164,158 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
531
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Professional office building for sale or lease in West Topeka.
Where is this office building located?
The property is located at 2121 SW Chelsea Dr Topeka, KS.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Prime location in West Topeka near 21st and Fairlawn with close access to I‑470.; Flexible occupancy: suitable for owner/occupant or lease with existing owner as tenant.; Versatile space: includes open bullpen areas, private offices, storage, and meeting/training space.
