901 S Kansas Ave - Office FOR SALE


Topeka, KS 66612- Downtown Topeka
$8,950,000 USD
816-679-4954
901 S Kansas Ave, Topeka, KS for Sale
$8,950,000 USD
Office - FOR SALE
1/5
null | 9.86% Cap Rate

901 S Kansas Ave
Topeka, KS 66612
Downtown Topeka


HIGHLIGHTS

  • 100% leased to State of Kansas tenants
  • 11+ Year WALT
  • Strategic location adjacent to the State Capitol and near I-70
  • Renovated in 2016

OVERVIEW

Newmark Zimmer, as exclusive advisor, is pleased to present the Mills Building (the “Property”), located at 901 S Kansas Avenue, Topeka, Kansas. The property is 100% leased to five State of Kansas tenants with a 11+ Year WALT. The Property is being offered at a 9.86% cap rate, for $8,950,000 ($97.00/SF), offering compelling returns. The Property is 65% leased to the Kansas Department of Revenue (KDOR) through 2041–committing to over $17M of revenue for the property. Other tenants include the Kansas Attorney General and the Kansas Department of Administration. Originally built in 1911, the property was renovated in 2016. The Property is located in Downtown Topeka, one block from the State Capitol, and three blocks from I-70. Office occupancy in Topeka has remained strong historically, averaging 4.5% in the last decade.

FOR SALE DETAILS

PRICE

$8,950,000 USD

PRICE/SF

$97 USD /SF

CAP RATE

9.86%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Mills Building

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

7

BUILDING CLASS

B

YEAR BUILT

1911

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.35 AC

LAND SF

15,246 SF

ZONING

C5

APN/PARCEL ID

109-31-0-40-13-001-000

ASK ABOUT THIS PROPERTY

816-679-4954

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816-679-4954

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