406 45th St Topeka, KS 66609-1800

Property Details for 406 45th St

Year built

1997

Lot size

2.65 lot acres

Zone code

I1

Property type

Warehouses

Property subtype

Self storage facilities

APN

134-19-0-40-03-009.00

APU

134190400300900

Description

This exceptional self-storage facility in Topeka, Kansas, presents a compelling investment opportunity. The property, located at 406 SE 45th St, boasts 18,775 net rentable square feet across 133 units, offering a blend of traditional and drive-up storage options. Built in 1997 and extensively renovated in 2017, the facility sits on a 2.65-acre lot and enjoys convenient access to major roadways like I-470 and Highway 75, serving a wide area including South, Southwest, and Southeast Topeka, as well as neighboring communities. Currently operating at 73% physical occupancy and 67% economic occupancy, the property benefits from a robust local market. The 5-mile radius boasts a strong 7.50 net rentable square feet per capita, with no new competing developments projected. Further bolstering the investment potential is a median household income exceeding $55,726 and over $120,000,000 in planned and under-construction multifamily and residential projects within a 10-mile radius. The property also includes additional land, offering potential for future expansion. The asking price is $1,540,000, translating to $82.02 per square foot and $11,578.95 per unit. The facility includes 54 parking spaces.