Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2007 Mission Ave Topeka, KS 66604

    • Commercial real estate
    • 1.02 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US33-1095787
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 2007 Mission Ave

    Year built
    1960
    Lot size
    1.02 lot acres
    Property type
    Commercial real estate

    Description

    This well-located Topeka, Kansas multifamily property offers a compelling investment opportunity. The 36-unit apartment complex, situated on a 1.02-acre lot at 2007 SW Mission Ave, boasts 24,455 square feet of net rentable space across three, two-story buildings. Built in 1960 and extensively renovated in 2021, the property currently enjoys a 90% occupancy rate. Recent capital improvements include the replacement of all windows and roofs. The property features on-site laundry and a 100% utility pass-through to tenants. A significant rent premium is achievable, presenting a clear path to increased profitability. The property's Class C designation and strong operational upside make it an attractive acquisition for investors seeking both short-term and long-term capital appreciation. The property is offered as a fee simple sale, and non-recourse structured finance options have been identified. This is a turnkey opportunity with potential for immediate cash flow and future value enhancement. Located near SW Gage Blvd and West 21st Street in Shawnee County, zip code 66604, this property benefits from a convenient location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Topeka
    County
    Shawnee
    State
    Kansas
    Longitude
    -95.7265477
    Latitude
    39.0309455

    Comparable in this City

    • $75,000
      986 SF

      Topeka Condo with Balcony

      Second-floor condo with open living space, balcony, and community pool.
      5458 SW 12Th Ter, Topeka, KS 66604
      View Details
    • $199,900
      2,192 SF

      Topeka Triplex with Rental Upside

      Centrally located Topeka triplex with immediate income potential.
      1500 SW Mulvane St, Topeka, KS 66604
      View Details
    • $110,000

      Well-Maintained Duplex with Income Potential

      Duplex featuring two 1-bedroom apartments, offering immediate income potential.
      1527 SW Mulvane St, Topeka, KS 66604
      View Details
    • $135,000
      0.13 Acres

      Topeka Multifamily Investment Opportunity

      Three properties in one package deal for investors.
      1109 SW Lincoln St, Topeka, KS 66604
      View Details
    • $140,000
      0.11 Acres

      Topeka Turnkey Investment Opportunity

      Turnkey investment property near Washburn University, suitable for various tenants.
      1531 SW 15Th St, Topeka, KS 66604
      View Details
    • $625,000
      13,000 SF

      Topeka Mixed-Use Investment Opportunity

      14,000 SF, Multi-Purpose Building, $625,000
      1239 Western Ave, Topeka, KS 66604
      View Details

    Similar Nearby for Sale

    • $75,000
      986 SF

      Topeka Condo with Balcony

      Second-floor condo with open living space, balcony, and community pool.
      5458 SW 12Th Ter, Topeka, KS 66604
      View Details
    • $199,900
      2,192 SF

      Topeka Triplex with Rental Upside

      Centrally located Topeka triplex with immediate income potential.
      1500 SW Mulvane St, Topeka, KS 66604
      View Details
    • $135,000
      0.13 Acres

      Topeka Multifamily Investment Opportunity

      Three properties in one package deal for investors.
      1109 SW Lincoln St, Topeka, KS 66604
      View Details
    • $110,000

      Well-Maintained Duplex with Income Potential

      Duplex featuring two 1-bedroom apartments, offering immediate income potential.
      1527 SW Mulvane St, Topeka, KS 66604
      View Details
    • $140,000
      0.11 Acres

      Topeka Turnkey Investment Opportunity

      Turnkey investment property near Washburn University, suitable for various tenants.
      1531 SW 15Th St, Topeka, KS 66604
      View Details
    • $625,000
      13,000 SF

      Topeka Mixed-Use Investment Opportunity

      14,000 SF, Multi-Purpose Building, $625,000
      1239 Western Ave, Topeka, KS 66604
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      14,950 SF

      Topeka Retail Space - 545 SF Available

      Prime Topeka retail space near Washburn University.
      1501 21St St, Topeka, KS 66604
      View Details
    • Contact for pricing
      6,000 SF

      College Park Office Suites Available

      Modern office spaces, flexible layouts, prime location.
      2611 17Th St, Topeka, KS 66604
      View Details
    • Contact for pricing

      Wanamaker Pad Site For Rent

      2.1+/- acre commercial land with multiple access points.
      1224 SW Wanamaker Rd, Topeka, KS 66604
      View Details
    • Contact for pricing
      1,205 SF

      Retail Space Near West Ridge

      Retail space in a busy area near West Ridge Mall.
      5900 SW Huntoon St, Topeka, KS 66604
      View Details
    • Contact for pricing
      2,013 SF

      Free Standing Building With Drive-Thru

      2,013 SF building with drive-thru, redevelopment potential.
      1241 SW Gage Blvd, Topeka, KS 66604
      View Details
    • $12 SF/Yr
      6,202 SF

      Topeka Executive Office Suites

      Prime Topeka Office Space, Two Suites Available
      1195 Buchanan St, Topeka, KS 66604
      View Details

    Property Visit Statistics

    • Visits by month
      8.4k
    • Visitors by month
      7.8k
    • Avg Time on site
      30 min
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2007 Mission Ave
    Topeka, KS 66604
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.