Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    645-647 Massachusetts St Lawrence, KS 66044

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $15 SF/Yr ($9,668 /Mo)

    7,735 SF retail space with historic charm available for lease.

    Property size:
    7,735 SF
    Lot size:
    0.36 Acres

    Property Features for 645-647 Massachusetts St

    General Information

    Size
    7,735 SF
    Lot size
    0.36 Acres

    We can help!

    Listing Contact
    Allison Moore, Sior
    Source: Moodyscre

    Listing Agent: Allison Moore, Sior

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Retail Space with Street Visibility

    This retail space, built in 1949, offers 7,735 square feet of area. It features street-facing windows suitable for merchandising and visibility. The property includes storage space with elevator access and rear access for deliveries and additional parking. The location has historic charm with modern potential. The zoning is CD-UC. The lease rate is $8,300 per month, modified gross.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lawrence
    County
    Douglas
    State
    Kansas
    Longitude
    -95.2361562
    Latitude
    38.9716404

    Nearby Similar for Lease

    • Contact for pricing
      61,000 SF

      Class A Medical/Office Space

      New medical/office building with high-end finishes and various amenities.
      6265 Rock Chalk Dr, Lawrence, KS
      View Details
    • $1,300,000
      5,773 SF

      Turnkey Restaurant Space with Charm

      Renovated restaurant space in walkable, highly-visible area.
      619 Massachusetts St, Lawrence, KS 66044
      View Details
    • Contact for pricing
      3,992 SF

      Mixed-Use Property in University Heights

      Mixed-use property with retail space and residential apartments for rent.
      1420 Crescent Rd, Lawrence, KS 66044
      View Details
    • $20 SF/Yr
      74,484 SF

      Lawrence, KS Office Space for Lease

      Prime Lawrence location, mixed-use building, flexible space.
      901 New Hampshire St, Lawrence, KS 66044
      View Details
    • Contact for pricing
      5,200 SF

      Downtown Lawrence Restaurant/Bar with Patio

      Renovated restaurant/bar with patio in walkable downtown Lawrence, KS.
      815 New Hampshire St, Lawrence, KS 66044
      View Details
    • $23 SF/Yr
      3,803 SF

      Lawrence Office Space For Rent

      Professional office space with convenient access and abundant natural light.
      1441 Wakarusa Dr, Lawrence, KS 66049
      View Details
    • $15 SF/Yr
      22,997 SF

      Louisiana Purchase Shopping Center

      Lawrence, KS Retail/Office Space Available
      2223 Louisiana St, Lawrence, KS 66046
      View Details
    • $22 SF/Yr
      5,576 SF

      Prime Lawrence Office Space

      5,576 sq ft Freestanding Office Building
      3500 Clinton Parkway Ct, Lawrence, KS 66047
      View Details
    • $3,000 /Mo
      1,476 SF

      Lawrence Office Space on Wakarusa

      Well-maintained office suite in a prime Lawrence location.
      1811 Wakarusa Dr, Lawrence, KS 66047
      View Details
    • $10 SF/Yr
      2,040 SF

      Industrial Space Near K-10 Highway

      Multi-tenant industrial building with dock doors and highway access.
      919 E 29Th St, Lawrence, KS 66046
      View Details
    • $30 SF/Yr
      49,739 SF

      Prime Lawrence Office Space

      Stylish 22,000 SF Office Building in Lawrence, KS
      730 New Hampshire St, Lawrence, KS 66044
      View Details
    • $12 SF/Yr
      56,443 SF

      Lawrence Retail Center Investment Opportunity

      Prime Lawrence retail space, multiple units available.
      1800 23Rd St, Lawrence, KS 66046
      View Details

    FAQs

    What type of property is this?
    Retail space - 7,735 SF retail space with historic charm available for lease.
    Where is this retail space located?
    The property is located at 645-647 Massachusetts St Lawrence, KS.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: - High visibility with street-facing windows ideal for merchandising.; - Large available space: 7,735 SF.; - Adequate storage space with elevator access.
    (785) 865-5100
    Request Owner's contact information
    645-647 Massachusetts St Lawrence, KS 66044
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    645-647 Massachusetts St
    Lawrence, KS 66044
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    645-647 Massachusetts St Lawrence, KS 66044
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Allison Moore, Sior
    (785) 865-5100
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.