Add Listing
    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

    923 North 2nd Street Lawrence, KS 66044

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Commercial property available for rent in Lawrence, Kansas.

    Type:SCR
    Added:
    Aug 23, 2022
    Days on Market:
    1325
    Last Refresh:
    Apr 3 at 5:01 am

    Property Features for 923 North 2nd Street

    General Information

    Standard status
    Active
    Property subtype
    SCR

    Spaces For Lease

    at 923 North 2nd Street Contact us

    We can help!

    Listing Contact
    Evan Holt

    Listing agent Evan Holt License #KS00238805

    Listing office KW Commercial Integrity

    Listing date Aug 23, 2022

    Source Realnex

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

    All listing content including descriptions, pricing, images are the copyrighted material of KW Commercial Integrity

    Overview

    Commercial Space for Rent

    Located at 923 North 2nd Street in Lawrence, Kansas, this commercial property is available for rent. It is classified as a specialty property, specifically categorized under 'other specialty properties' and 'commercial real estate'.
    Location Intelligence

    Current Use by Public Records

    North Lawrence Farmer's ... Specialty Food Shop Englewood Florist & Flower ... (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Nail Salon Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Lawrence
    County
    Douglas
    State
    Kansas
    Longitude
    -95.2340788
    Latitude
    38.9877527

    Nearby Similar for Lease

    • Contact for pricing

      Downtown Lawrence Office Space Available

      Second-level office space in downtown Lawrence with elevator access.
      930 Massachusetts St, Lawrence, KS
      View Details
    • Contact for pricing

      Retail Space Near University of Kansas

      Retail space with open floor plan and ample parking.
      1520 Wakarusa Dr, Lawrence, KS
      View Details
    • $15/mo

      Retail Space with Street Visibility

      7,735 SF retail space with historic charm available for lease.
      645-647 Massachusetts St, Lawrence, KS
      View Details
    • Contact for pricing

      Historic Storefront on Massachusetts Street

      Charming retail space near Granada and University of Kansas.
      1025 Massachusetts St, Lawrence, KS
      View Details
    • Contact for pricing

      Turn-Key Restaurant with Outdoor Potential

      Spacious restaurant with bar, large kitchen, and dining area.
      805 New Hampshire St, Lawrence, KS
      View Details
    • Contact for pricing

      Kansas Dillons Grocery Store Suites

      In-store office/retail suites available in various Kansas Dillons locations.
      4701 W 6th St, Lawrence, KS 66049
      View Details
    • Contact for pricing

      Retail Suites Inside Dillons Stores

      In-store retail and office suites available in Kansas Dillons.
      4701 W 6th St, Lawrence, KS 66049
      View Details
    • $30/mo

      Retail Space Near Target

      3,661 SF retail space anchored by Target.
      3221 Iowa St, Lawrence, KS
      View Details
    • Contact for pricing

      Downtown Lawrence Storefront Opportunity

      Prime 1,075 SF storefront in Downtown Lawrence for lease.
      812 Massachusetts St, Lawrence, KS
      View Details
    • $22/mo

      Retail Space in Lawrence Center

      Retail spaces available in high-traffic Lawrence shopping center.
      2000 W 31st St, Lawrence, KS
      View Details
    • Contact for pricing

      Lawrence Office Space For Rent

      Office suite available in professionally-maintained building near K-10 Bypass.
      5200 Bob Billings Pkwy, Lawrence, KS
      View Details
    • Contact for pricing

      Downtown Office Space For Rent

      High-visibility office space in downtown location near Massachusetts Street.
      12 W 8th St, Lawrence, KS 66044
      View Details

    FAQs

    What type of property is this?
    Specialty property - Commercial property available for rent in Lawrence, Kansas.
    Where is this specialty property located?
    The property is located at 923 North 2nd Street Lawrence, KS.
    What are key features of this property?
    This property features: Commercial property available for rent.; Located in Lawrence, Kansas.; Property is for commercial use.
    (785) 640-8923
    We can help!
    Listing Contact
    Evan Holt
    Real Estate License ID: KS00238805
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!