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Urish Center 2025 SW Urish Rd 20,602 SF 78% Leased Retail Building Topeka, KS 66615 $3,095,000 ($150.23/SF) 8% Cap Rate
Executive Summary
Urish Center | Tangible Upside | Below-Market Rents | Prime Location at Major Roundabout | Topeka
• 20,602 Square Foot Strip Center | Topeka, Kansas | State Capital with Over 233k People
• Major Upside Potential with High Going-In Yield
• Offered Well Below Replacement Cost at $150 per Square Foot | High End Construction Built in in 2006 | Situated on Large 2.85 Acre Lot
• Strong Mixture of Diversified, Ecommerce-Proof Tenants | Bar/Grill, Liquor & Convenience, Medical, Salon, Home Décor, Tanning Spa, Grocery, and Donuts/Coffee
UPSIDE:
• Market to Market Rent Opportunity:
- Well-Below Market Rents Averaging Only $11.85 per Square Foot
- 36% of GLA/Five Tenants Lack Option Terms
- WALT Only 1.63-Years
- No Tenants Have More Than One Option Term Remaining (Spans Three to Five Year Terms)
• Immediate Backfill Opportunities:
- Currently Two Spaces Available for Immediate Lease-Up – Including:
- Sherwood Animal Clinic – Business Winding Down After Recent Passing of Owner (2,311 Square Feet of End-Cap Space – Ability to Install Drive-Thu
- Suite #110 - Cambridge Quartz & Granite Relocated From This Space in 2025 Measures 2,541 SF
• Seller Offering Master-Lease Opportunities on Both Spaces to Guarantee Rent for Period of Time - Ask Broker for Details
• Steady/Guaranteed Income or Owner User Opportunity
• Favorable Triple-Net Lease Structures | Recapture of Tax, CAM, Insurance Expenses | 3rd Party Management Fees Reimbursed by Tenants | Minimal Landlord Responsibilities
• Dense & Mature Demographics | Population Counts of 5,115 within One Mile, 38,616 within Three-Miles, and 79,640 within Five-Miles | Average Household Income in Excess of $103,000
• 20,602 Square Foot Strip Center | Topeka, Kansas | State Capital with Over 233k People
• Major Upside Potential with High Going-In Yield
• Offered Well Below Replacement Cost at $150 per Square Foot | High End Construction Built in in 2006 | Situated on Large 2.85 Acre Lot
• Strong Mixture of Diversified, Ecommerce-Proof Tenants | Bar/Grill, Liquor & Convenience, Medical, Salon, Home Décor, Tanning Spa, Grocery, and Donuts/Coffee
UPSIDE:
• Market to Market Rent Opportunity:
- Well-Below Market Rents Averaging Only $11.85 per Square Foot
- 36% of GLA/Five Tenants Lack Option Terms
- WALT Only 1.63-Years
- No Tenants Have More Than One Option Term Remaining (Spans Three to Five Year Terms)
• Immediate Backfill Opportunities:
- Currently Two Spaces Available for Immediate Lease-Up – Including:
- Sherwood Animal Clinic – Business Winding Down After Recent Passing of Owner (2,311 Square Feet of End-Cap Space – Ability to Install Drive-Thu
- Suite #110 - Cambridge Quartz & Granite Relocated From This Space in 2025 Measures 2,541 SF
• Seller Offering Master-Lease Opportunities on Both Spaces to Guarantee Rent for Period of Time - Ask Broker for Details
• Steady/Guaranteed Income or Owner User Opportunity
• Favorable Triple-Net Lease Structures | Recapture of Tax, CAM, Insurance Expenses | 3rd Party Management Fees Reimbursed by Tenants | Minimal Landlord Responsibilities
• Dense & Mature Demographics | Population Counts of 5,115 within One Mile, 38,616 within Three-Miles, and 79,640 within Five-Miles | Average Household Income in Excess of $103,000
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
20,602 SF
Building Class
B
Year Built
2006
Price
$3,095,000
Price Per SF
$150.23
Cap Rate
8%
NOI
$247,600
Percent Leased
78%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.08
Lot Size
5.77 AC
Zoning
RR1
Parking
111 Spaces (5.39 Spaces per 1,000 SF Leased)
Frontage
450’ on Southwest Urish Road
Space Availability
- Space
- Size
- Space Use
- Position
- Available
2,200 square foot office/retail suite.
Over 2,300 square foot retail suite.
| Space | Size | Space Use | Position | Available |
| 1st Floor | 2,200 SF | Office/Retail | - | Now |
| 100 | 2,311 SF | Office/Retail | End Cap | Now |
1st Floor
| Size |
| 2,200 SF |
| Space Use |
| Office/Retail |
| Position |
| - |
| Available |
| Now |
100
| Size |
| 2,311 SF |
| Space Use |
| Office/Retail |
| Position |
| End Cap |
| Available |
| Now |
1st Floor
| Size | 2,200 SF |
| Space Use | Office/Retail |
| Position | - |
| Available | Now |
2,200 square foot office/retail suite.
100
| Size | 2,311 SF |
| Space Use | Office/Retail |
| Position | End Cap |
| Available | Now |
Over 2,300 square foot retail suite.
Nearby Major Retailers
Property Taxes
| Parcel Number | 143-06-0-40-01-007-000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $69,716 |
Property Taxes
Parcel Number
143-06-0-40-01-007-000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$69,716
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Urish Center | 2025 SW Urish Rd
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