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    45th And California Topeka, KS 66609

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    For Sale
    Contact for pricing

    Prime 6.54-acre site, multiple uses.

    Property size:
    330,208 SF

    Property Features for 45th And California

    General Information

    Property type
    Restaurants
    Square Feet
    330,208 SF
    Lot Size
    284,882 SF

    We can help!

    Listing Contact
    Ed Eller
    Ed Eller

    Listing Agency: Kansas Commercial Real Estate Services Inc Listing Agent: Ed Eller

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

    Learn more

    Overview

    This exceptional 6.54-acre commercial property, located at the southeast corner of 45th and California in Topeka, Kansas (zip code 66609), presents a unique investment opportunity. The site boasts a total of 330,208 square feet and is zoned C-2 Commercial, allowing for a wide range of development possibilities. The property is ideally suited for a variety of uses, including a small retail development, convenience store, dry cleaner, professional office space, bank branch, quick-service restaurant, or other service-oriented retail businesses. The asking price for the entire 330,208 square foot parcel is $450,000, translating to a price per square foot of $1.36. Alternatively, the property is also divisible into two separate lots: Lot 2, encompassing 44,986 square feet, is available for $175,000; and Lot 3, comprising 285,222 square feet, is priced at $275,000. This prime location in Shawnee County offers excellent visibility and accessibility, making it an attractive proposition for investors and developers seeking a high-impact commercial venture in a thriving Kansas market. The property's versatility and strategic location make it a compelling investment opportunity with significant potential for future growth and return.
    Property Profile Location Intelligence

    Current Use by Public Records

    Grocery and convenience stores

    Map

    City
    Topeka
    County
    Shawnee
    State
    Kansas
    Longitude
    -95.65160998
    Latitude
    38.98465458

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    FAQs

    What type of property is this?
    Restaurant - Prime 6.54-acre site, multiple uses.
    Where is this restaurant located?
    The property is located at 45th And California Topeka, KS.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: $450,000 asking price for 330,208 square feet.; 6.54-acre lot zoned C-2 Commercial.; Ideal for retail development, including convenience store, restaurant, or office uses.
    (785) 272-2525 Call to check price and availability
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    45th And California Topeka, KS 66609
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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
    45th And California Topeka, KS 66609
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    Contact for Pricing
    Please call us for current price
    and status of this listing Ed Eller
    Ed Eller
    Real Estate License ID: 00217859
    (785) 272-2525 (785) 228-5302 (785) 608-6159
    Learn more
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