West Topeka Office
2121 SW Chelsea Dr Topeka, KS 66614
2121 SW Chelsea Dr, Topeka, KS, 66614
Contact for pricing
For Sale
Contact for pricing
Professional office building for sale or lease in West Topeka.
Property Size20,790 SF
Price / SF$95.96
Days on Market942
Property Features for 2121 SW Chelsea Dr
General Information
- Standard status
- Active
- Size
- 20,790 SF
- Property subtype
- Office, Mixed Use
Building Details
- Year Built
- 1997
Listing Agency
Foundations Commercial Real Estate
(785) 766-6568
Listed by
Kirsten Flory · License #SP00220332
Source
Crexi
Added: Dec 19, 2023 Checked: Jul 17 at 9:31 am
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
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.
Local Financial Insights For Flex RnD
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $162.2k | $7.80 |
| − Vacancy | −$13.0k | −$0.62 |
| EGI | $149.2k | $7.18 |
| − OpEx | −$52.2k | −$2.51 |
| NOI | $97.0k | $4.66 |
20,790 SF · lease $7.80/SF/yr · vacancy 8.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$1.39M
$1.21M – $1.62M
NOI $96,973 @ 7.0% cap · market cap 4.86%
Second Best
Office B
$1.01M
$882.2K – $1.18M
NOI $70,578 @ 7.0% cap · market cap 3.54%
Theoretical Best
Self Storage
$2.35M
$2.05M – $2.74M
NOI $164,158 @ 7.0% cap · market cap 8.23%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Substance Abuse Screening ...
Medical Clinic
HealthSource Integrated Solutions
Medical Clinic
ComplianceOne
Drug Testing Service
Substance Abuse Screening
Drug Testing Service
Kansas Health Solutions
Information Services
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FAQs
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 $1,995,000.
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.
