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    2120 Wanamaker Rd Topeka, KS 66614-5231

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    2120 Wanamaker Rd Topeka, KS 66614-5231

    View on Map
    • Outlet malls
    • 7.66 lot acres
    Off-Market
    Property ID
    US33-0930202
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Clearchoice Dental Implant Center / Dental Office
    • Target Grocery / Grocery & Convenience Store / Food Market
    • West Ridge Plaza / Shopping Center & Mall
    • Target Mobile / Mobile Phone Store / Electronics & Wireless Store
    • Reed SR22 Insurance / Marketing & Advertising

    Property Details for 2120 Wanamaker Rd

    Year built
    1988
    Lot size
    7.66 lot acres
    Zone code
    C4
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    142-09-0-20-02-004.00
    APU
    142090200200400

    Description

    West Ridge Plaza, located at 2120 SW Wanamaker Rd in Topeka, Kansas, offers a prime retail space totaling 1,940 square feet. This space is part of a larger, thriving 240,827 square foot shopping center boasting a diverse tenant mix including nationally recognized brands such as Target, Ashley Furniture Home Store, TJ Maxx, The Buckle, and Famous Footwear. The plaza enjoys a highly visible location at the southeast corner of Wanamaker Road and 21st Street in Shawnee County, Kansas, zip code 66614. Data from Placer indicates significant foot traffic, with a total of 3.2 million visits recorded between April 2022 and April 2023, demonstrating strong consumer engagement and a robust retail environment. The property is classified as a retail space suitable for restaurant or retail uses within a strip center or power center configuration. This single-suite space presents a unique opportunity for businesses seeking high visibility and access to a substantial customer base in a well-established and successful shopping center. The property is situated in a high-traffic area, making it ideal for businesses seeking maximum exposure. This space is ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Topeka
    County
    Shawnee
    State
    Kansas
    Longitude
    -95.7598
    Latitude
    39.0284
    CBSA code
    45820
    CBSA name
    TOPEKA, KS METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $257,514
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      27,698 SF

      5121 29th St

      WHOLESALE OUTLET, DISCOUNT STORE • 27,698 SF
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    • Value Estimation by Request
      2.41 Acres

      2919 Wanamaker Rd

      SHOPPING CENTER, STRIP CENTER • 2.41 Acres
      2919 Wanamaker Rd, Topeka, KS 66614-4972
      View Details
    • Value Estimation by Request
      0.61 Acres

      5501 29th St

      SHOPPING CENTER, STRIP CENTER • 0.61 Acres
      5501 29th St, Topeka, KS 66614-2479
      View Details
    • Value Estimation by Request
      10,920 SF

      5967 29th St

      SHOPPING CENTER, STRIP CENTER • 10,920 SF
      5967 29th St, Topeka, KS 66614-2537
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    • Value Estimation by Request
      3,520 SF

      3343 Gage Blvd

      SHOPPING CENTER, STRIP CENTER • 3,520 SF
      3343 Gage Blvd, Topeka, KS 66614-3814
      View Details
    • Value Estimation by Request
      13,284 SF

      2900 Oakley Ave

      SHOPPING CENTER, STRIP CENTER • 13,284 SF
      2900 Oakley Ave, Topeka, KS 66614-2663
      View Details

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    Topeka, KS 66614-5231
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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
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