Turnkey Restaurant with Patio
1350 N 3rd St Lawrence, KS 66044
1350 N 3rd St, Lawrence, KS, 66044
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For Sale
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Turnkey restaurant featuring a large patio with covered bar.
Property Size4,194 SF
Price / SF$184.79
Days on Market632
Property Features for 1350 N 3rd St
General Information
- Standard status
- Active
- Size
- 4,194 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1995
Listing Agency
Colliers - Lawrence, Kansas
(785) 865-3924
Listed by
Allison Moore · License #KS BR00051570
Source
Crexi
Added: Oct 25, 2024 Checked: Jul 17 at 9:31 am
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 Colliers - Lawrence, Kansas
Investment Insights
Based on property information with market context.
This is a turnkey restaurant property featuring a large, open-concept interior space with an optional indoor stage and dance floor. The property also includes a large outdoor patio area with a covered bar. Ample parking is available. The property benefits from high visibility and accessibility from I-70, US 59, and US 40 Highways. The building size is 4,194 square feet. This property is suitable for conventional restaurant use.
Key Highlights
- Turnkey restaurant ready for immediate operation.
- Large outdoor patio with covered bar.
- Ample parking.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $85.6k | $20.40 |
| − Vacancy | −$3.3k | −$0.78 |
| EGI | $82.3k | $19.62 |
| − OpEx | −$20.6k | −$4.91 |
| NOI | $61.7k | $14.72 |
4,194 SF · lease $20.40/SF/yr · vacancy 3.80% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$881.9K
$771.6K – $1.03M
NOI $61,730 @ 7.0% cap · market cap 7.97%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$1.23M
$1.08M – $1.44M
NOI $86,392 @ 7.0% cap · market cap 11.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Fire Canyon Barbeque
Food And Beverage Consultant
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FAQs
What type of property is this?
Conventional restaurant - Turnkey restaurant featuring a large patio with covered bar.
Where is this conventional restaurant located?
The property is located at 1350 N 3rd St Lawrence, KS.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Turnkey restaurant ready for immediate operation.; Large outdoor patio with covered bar.; Ample parking.
