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    534 Kansas Ave Topeka, KS 66603

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    For Lease
    Contact for pricing

    Kansas City, KS: Modern Executive & Creative Offices

    Lot size:
    400,000 SF

    Property Features for 534 Kansas Ave

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    400,000 SF
    Class
    A
    Total Rate
    533333.33

    Building Details

    Year Built/Renovated
    1970/2023
    Buildings
    4
    Stories
    16

    Spaces For Lease

    at 534 Kansas Ave, Topeka, KS 66603 Contact us
    Unit 4-100

    $16 /Mo

    Size
    4,000 SF
    Contact us
    Unit Suite 600

    $18 /Mo

    Size
    11,600 SF
    Contact us
    Unit Suite 1130

    $18 /Mo

    Size
    2,922 SF
    Contact us
    Unit Suite 1200

    $18 /Mo

    Size
    7,110 SF
    Contact us
    Unit Suite 1310

    $18 /Mo

    Size
    1,945 SF
    Contact us
    Unit Suite 1430

    $18 /Mo

    Size
    1,353 SF
    Contact us
    Unit Suite 1500

    $18 /Mo

    Size
    11,600 SF
    Contact us
    Unit 500 S Kansas Ave

    $18 /Mo

    Size
    5,252 SF
    Contact us
    Unit 3-200

    $18 /Mo

    Size
    19,000 SF
    Contact us
    Unit 4-200

    $18 /Mo

    Size
    8,000 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    Ken Schmanke
    Ken Schmanke

    Listing Agency: K1 Realty LLC Listing Agent: Ken Schmanke

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Townsite Tower offers exceptional office space in Topeka, Kansas, within the Kansas City submarket. This Class A property, encompassing four buildings with a total of 400,000 square feet, underwent a complete renovation in 2023. The complex boasts 16 stories and five elevators for convenient access. Tenants can choose from various spaces, with a minimum divisible area of 750 square feet and a maximum contiguous space of 40,000 square feet. Currently, 79,210 square feet of space is available for lease. The property, originally built in 1970, provides multiple tenancy options, catering to both executive and creative office needs. Located at 534 S Kansas Ave, Topeka, KS 66603, in Shawnee County, this prime location offers easy access to amenities and transportation. The modern design and updated amenities create a dynamic and productive work environment, perfect for attracting and retaining top talent. This is an unparalleled opportunity to secure high-quality office space in a thriving submarket. The building's updated infrastructure and contemporary design ensure a comfortable and efficient workspace. The flexible space options allow businesses of all sizes to find the perfect fit for their operational needs.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Sloan, Eisenbarth, Glassman, ... Law Firm Info Origin Inc (Bike/Boat/Book/etc) Store Devine & Donley, LLC Law Firm Essential Recovery Medical Clinic Heptig Michael S Law Firm

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Law Firm Nail Salon 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
    -95.67329438
    Latitude
    39.05157493

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    FAQs

    What type of property is this?
    Office space - Kansas City, KS: Modern Executive & Creative Offices
    Where is this office space located?
    The property is located at 534 Kansas Ave Topeka, KS.
    What is the lease rate?
    The lease rate is $16-$18 SF/Yr.
    What are key features of this property?
    This property features: Modernized Elevators; New HVAC System; Renovated Common Areas
    (785) 554-8140 Call to check price and availability
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    534 Kansas Ave Topeka, KS 66603
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    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
    534 Kansas Ave Topeka, KS 66603
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    Contact for Pricing
    Please call us for current price
    and status of this listing Ken Schmanke
    Ken Schmanke
    Real Estate License ID: BR00033234
    (785) 554-8140
    Learn more
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