Topeka Warehouse with Office
For Sale
Contact for pricing
1936 NW Lower Silver Lake Rd, Topeka, KS 66608
70,000+/- SF building with dock, office, and mezzanine.
Property Size69,300 SF
Price / SF$27.42
Days on Market1101
Property Features for 1936 NW Lower Silver Lake Rd
General Information
Standard status
Active
Size
69,300 SF
Property subtype
Industrial
Zoning
I-1
Lease Type
NNN
Building Details
Year Built
1974
Tenancy
Single
Listing Agency:
Kansas Commercial Real Estate Services Inc
(785) 272-2525
Listed By:
Ed Eller · License #KS 00217859
Source:
Crexi
Added: Aug 28, 2023
Changed: Aug 22
Last Checked: Sep 1 at 6:34AM
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 property features a 70,000+/- square foot building, including approximately 5,000 square feet of interior dock space, 1,600+/- square feet of office space, and a 633+/- square foot mezzanine. The property has potential for rail siding located approximately one-half mile south on Vail Avenue. It also offers the potential for a drive-thru building and includes a truck scale on the premises. The west warehouse incorporates a grated floor drain system. The owner is open to leasing the property to a suitable tenant. The property is located in Topeka, KS.
Key Highlights
- 70,000 SF building with potential for a variety of uses
- Interior dock (5,000 SF) for efficient loading/unloading
- Truck scale on premises for weighing shipments
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
$118,328
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
6.23%
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%
$2,366,560
$2.4M
Cap Rate 7%
$1,690,400
$1.7M
Cap Rate 9%
$1,314,756
$1.3M
Market Conditions
NOI Build-Up for 69,300 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
$149.7K $2.16/SF
− Vacancy
−$10.5K −$0.15/SF
EGI
$139.2K $2.01/SF
− OpEx
−$20.9K −$0.30/SF
NOI
$118.3K $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%
$2,366,560
Cap Rate 7%
$1,690,400
Cap Rate 9%
$1,314,756
Alternative Uses
Best Use
Office B
$3.36M
$2.94M – $3.92M
NOI $235,260 @ 7.0% cap · market cap 12.38%
Second Best
Warehouse
$1.69M
$1.48M – $1.97M
NOI $118,328 @ 7.0% cap · market cap 6.23%
Theoretical Best
Self Storage
$7.82M
$6.84M – $9.12M
NOI $547,193 @ 7.0% cap · market cap 28.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
38
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 66608, KS
5,247
Population
2,484
Households
2.1
Avg Household Size
40
Median Age
7%
College-Educated
87%
High-School Grad
4.3 sq mi
ZIP Area
1,220
Density / Sq Mi
$49,792
Median Household Income
$29,754
Median Earnings
$843
Median Rent
$77,500
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.
Similar Off Market Nearby
- Johnson Storage & Moving — 1936 NW Lower Silver Lake Rd, Topeka, KS 66608
- Security Van Lines — 1936 NW Lower Silver Lake Rd, Topeka, KS 66608
- Storage Rentals of America — 2227 NW Vail Ave, Topeka, KS 66618
- H P S Storage — 2836 US-24, Topeka, KS 66618
Frequently Asked Questions
What type of property is this?
Warehouse - 70,000+/- SF building with dock, office, and mezzanine.
Where is this warehouse located?
The property is located at 1936 NW Lower Silver Lake Rd Topeka, KS.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 70,000 SF building with potential for a variety of uses; Interior dock (5,000 SF) for efficient loading/unloading; Truck scale on premises for weighing shipments
