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    1901 Kansas Ave Topeka, KS 66608

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    For Sale
    Contact for pricing

    Turnkey event venue, fully equipped.

    Property size:
    20,100 SF

    Property Features for 1901 Kansas Ave

    General Information

    Property type
    Specialty properties
    Square Feet
    20,100 SF
    Lot Size
    556,697 SF

    Building Details

    Year Built/Renovated
    1954/2016
    Buildings
    1
    Stories
    1

    We can help!

    Listing Contact
    Drew Torkelson

    Listing Agency: Berkshire Hathaway First Listing Agent: Drew Torkelson

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

    Learn more

    Property Insight Report

    Overview

    This exceptional Topeka, Kansas, event center presents a unique investment opportunity. Priced at $740,000, this 20,100 square foot facility sits on a 12.78-acre lot (including an additional 1.46 acres on NW Blaine Ave.) and boasts a rich history, evident in preserved Moose Club memorabilia. The single-story, 1954 building underwent extensive renovations between 2016 and 2023, including a new roof. The property is zoned C4, M1, and R1, offering versatility. The interior features multiple event spaces, allowing for simultaneous events. A fully equipped kitchen includes an exhaust hood and coolers. A substantial woodshed contains a large inventory of locally sourced lumber. All existing event contracts will transfer to the new owner. The maximum ceiling height is 12 feet. Note that an on-site cell tower is not included in the sale. This turnkey operation includes all furnishings, fixtures, and equipment, making it an ideal opportunity for immediate revenue generation.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Elite Towing LLC Auto Repair Shop The Woodshed Event Center Hotel & Motel The Woodshed Flea Market (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Topeka
    County
    Shawnee
    State
    Kansas
    Longitude
    -95.661997
    Latitude
    39.0812795

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    FAQs

    What type of property is this?
    Specialty property - Turnkey event venue, fully equipped.
    Where is this specialty property located?
    The property is located at 1901 Kansas Ave Topeka, KS.
    What is the asking price?
    The asking price for this property is $740,000.
    What are key features of this property?
    This property features: $740,000 asking price for a turnkey event center with all furnishings, fixtures, and equipment (FF&E).; 20,100 square foot, single-story building with multi-event capacity, recently updated rooms, and a new roof (2016-2023 renovations).; Unique character preserved with Moose Club memorabilia.
    (785) 271-2888 Call to check price and availability
    Request Owner's contact information
    1901 Kansas Ave Topeka, KS 66608
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    Topeka, KS 66608
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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
    1901 Kansas Ave Topeka, KS 66608
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Drew Torkelson
    Real Estate License ID: KS 00248438
    (785) 271-2888
    Learn more
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