Industrial Building with Retail
For Sale
Contact for pricing
3120 S Kansas Ave, Topeka, KS 66611
Industrial building with retail exposure on a busy thoroughfare.
Property Size19,634 SF
Price / SF$48.64
Days on Market827
Property Features for 3120 S Kansas Ave
General Information
Standard status
Active
Size
19,634 SF
Property subtype
Industrial
Zoning
I2
Lease Type
Modified Gross
Building Details
Year Built
1962
Tenancy
Multi
Listing Agency:
Kansas Commercial Real Estate Services Inc
Listed By:
Ed Eller · License #KS 00217859
(785) 272-2525
Source:
Crexi
Added: Jul 3, 2024
Changed: Oct 7
Last Checked: Oct 5 at 4:44PM
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 former refrigerated/freezer food production building, previously occupied by food distribution users, presents an opportunity to acquire an industrial property with retail exposure. The 19,634-square-foot building is situated on the south side of Topeka, just south of 29th Street on Kansas Avenue, in the heart of the auto dealership district. Kansas Avenue and Topeka Boulevard offer various surrounding retail and auto-related locations. The property features two grade-level doors on the front of the building and has entrances on Kansas Ave. and 31st Street. It is included in the NRP zone.
Key Highlights
- Former refrigerated/freezer food production building suitable for food distribution or similar businesses.
- Prime location with retail exposure on a busy thoroughfare in the auto dealership district.
- Two grade‑level doors on the front of the building for easy access.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,525
Cap Rate
3.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$670,500
$670.5K
Cap Rate 7%
$478,929
$478.9K
Cap Rate 9%
$372,500
$372.5K
Market Conditions
NOI Build-Up for 19,634 SF
Gross rent
$42.4K $2.16/SF
− Vacancy
−$3.0K −$0.15/SF
EGI
$39.4K $2.01/SF
− OpEx
−$5.9K −$0.30/SF
NOI
$33.5K $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 Rate 5%
$670,500
Cap Rate 7%
$478,929
Cap Rate 9%
$372,500
Alternative Uses
Best Use
Warehouse
$478.9K
$419.1K – $558.8K
NOI $33,525 @ 7.0% cap · market cap 3.51%
Second Best
—
—
no second resolved use
Theoretical Best
Self Storage
$2.21M
$1.94M – $2.58M
NOI $155,030 @ 7.0% cap · market cap 16.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
570
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 66611, KS
9,843
Population
4,814
Households
2
Avg Household Size
39
Median Age
32%
College-Educated
95%
High-School Grad
3.3 sq mi
ZIP Area
2,983
Density / Sq Mi
$54,612
Median Household Income
$36,823
Median Earnings
$963
Median Rent
$139,100
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 Industrial in Midwest region
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Similar Off Market Nearby
- Wilco Storage — 3310 SW Harrison St, Topeka, KS 66611
- 911 Storage — 3245 sw topeka blvd, topeka, ks 66611
- Capital City Storage — 3200 S Kansas Ave, Topeka, KS 66611
- CubeSmart Self Storage — 240 SE 29th St, Topeka, KS 66605
- Armor Storage - Topeka — 447 SE 29th St, Topeka, KS 66605
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial building with retail exposure on a busy thoroughfare.
Where is this warehouse located?
The property is located at 3120 S Kansas Ave Topeka, KS.
What is the asking price?
The asking price for this property is $955,000.
What are key features of this property?
This property features: Former refrigerated/freezer food production building suitable for food distribution or similar businesses.; Prime location with retail exposure on a busy thoroughfare in the auto dealership district.; Two grade‑level doors on the front of the building for easy access.
