3846 Topeka BlvdTopeka, KS 66609

Property Details for 3846 Topeka Blvd

Year built

1974

Lot size

1.40 AC

Zone code

C4

Property type

Motels

APN

134-19-0-20-03-020.00

APU

134190200302000

Description

This exceptional 1.41-acre commercial land parcel, located at 3846 SW Topeka Blvd in Topeka, Kansas (zip code 66609), presents a compelling redevelopment opportunity. Situated in Shawnee County and zoned C-4, this property enjoys a prime location adjacent to the newly constructed Kansas Turnpike Authority (KTA) offices. The area is experiencing significant revitalization, creating a dynamic environment for future development. The property's strategic position benefits from the ongoing renaissance of the Topeka Boulevard area, a transformation described as exceeding the impact of previous major developments. To facilitate redevelopment, the possibility of utilizing Community Improvement District (CID) and Tax Increment Financing (TIF) options exists. CID taxes levied within a designated district can fund public infrastructure improvements, while TIF leverages future property tax increases to repay debt incurred for redevelopment projects. These financing mechanisms can significantly enhance the attractiveness of this property to investors and developers. Interested parties are encouraged to contact local economic development agencies or city officials to explore the specifics of available CID and TIF programs and their potential benefits. The seller is actively pursuing economic development funding to prepare the site for development and upgrade infrastructure. This proactive approach aims to make the property "shovel ready" and expedite the redevelopment process. The property is currently vacant.

• CAP approach

  CAP return

  Valuation

  6%

  $11,697,356

  6.5%

  $10,797,559

  7%

  $10,026,305

• Comparable approach

  Method

  Valuation

  Relative Method

  $10,287,445

  Geo Method

  $10,287,445

• Alternative Use

  Use

  Valuation

  Residential

  $11,787,797

  Hospitality

  $10,797,559

  Educational

  $8,983,442

  Medical

  $9,292,397

  Retail

  $13,974,244

Location Insight

City

Topeka

County

Shawnee

State

Kansas

Latitude

38.9961

Longitude

-95.6862

CBSA code

45820

CBSA name

TOPEKA, KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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