Two-Story Warehouse with On-Grade
For Sale
Contact for pricing
400 SE Quincy, Topeka, KS 66603
Two-story warehouse with on-grade access on each level.
Property Size32,470 SF
Price / SF$22.33
Days on Market2378
Property Features for 400 SE Quincy
General Information
Standard status
Active
Size
32,470 SF
Property subtype
Industrial, Mixed Use, Office
Zoning
C5
Building Details
Year Built
1965
Year Renovated
1995
Stories
2
Listing Agency:
Kansas Commercial Real Estate Services Inc
(785) 272-2525
Listed By:
Mike Morse, SIOR · License #KS SP00046992
Source:
Crexi
Added: Feb 18, 2020
Changed: Aug 21
Last Checked: Aug 22 at 4:20PM
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 is a two-story warehouse with on-grade access available on each level. The property is suitable for mixed-use, industrial, and office purposes. The property size is 32470 square feet.
Key Highlights
- Two‑story warehouse offers ample space.
- On‑grade access on each level facilitates easy loading and unloading.
- Warehouse suitable for various industrial or storage purposes.
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
$55,442
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
7.65%
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%
$1,108,840
$1.1M
Cap Rate 7%
$792,029
$792.0K
Cap Rate 9%
$616,022
$616.0K
Market Conditions
NOI Build-Up for 32,470 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
$70.1K $2.16/SF
− Vacancy
−$4.9K −$0.15/SF
EGI
$65.2K $2.01/SF
− OpEx
−$9.8K −$0.30/SF
NOI
$55.4K $1.71/SF
Area
Topeka, KS
Vacancy
7.00%
Lease Rate
$2.16 /SF/Yr
Expense Ratio
15.00%
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%
$1,108,840
Cap Rate 7%
$792,029
Cap Rate 9%
$616,022
Alternative Uses
Best Use
Mixed Use
$2.85M
$2.49M – $3.32M
NOI $199,447 @ 7.0% cap · market cap 27.51%
Second Best
Office B
$1.57M
$1.38M – $1.84M
NOI $110,229 @ 7.0% cap · market cap 15.20%
Theoretical Best
Self Storage
$3.66M
$3.20M – $4.27M
NOI $256,383 @ 7.0% cap · market cap 35.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,695
Businesses Nearby
Explore this area
Business Placement
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 Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story warehouse with on-grade access on each level.
Where is this mixed-use property located?
The property is located at 400 SE Quincy Topeka, KS.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Two‑story warehouse offers ample space.; On‑grade access on each level facilitates easy loading and unloading.; Warehouse suitable for various industrial or storage purposes.
