Turnkey Restaurant with Patio
For Sale
Contact for pricing
1350 N 3rd St, Lawrence, KS 66044
Turnkey restaurant featuring a large patio with covered bar.
Property Size4,194 SF
Price / SF$184.79
Days on Market723
Property Features for 1350 N 3rd St
General Information
Standard status
Active
Size
4,194 SF
Property subtype
Retail
Zoning
M-3
Occupancy
100%
Building Details
Year Built
1995
Listing Agency:
Colliers - Lawrence, Kansas
Listed By:
Allison Moore · License #KS BR00051570
(785) 865-3924
Source:
Crexi
Added: Oct 25, 2024
Changed: Oct 10
Last Checked: Oct 16 at 6:09AM
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
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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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,730
Cap Rate
7.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,234,600
$1.2M
Cap Rate 7%
$881,857
$881.9K
Cap Rate 9%
$685,889
$685.9K
Market Conditions
NOI Build-Up for 4,194 SF
Gross rent
$85.6K $20.40/SF
− Vacancy
−$3.3K −$0.78/SF
EGI
$82.3K $19.62/SF
− OpEx
−$20.6K −$4.91/SF
NOI
$61.7K $14.72/SF
Area
Douglas County, KS
Vacancy
3.80%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,234,600
Cap Rate 7%
$881,857
Cap Rate 9%
$685,889
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 authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
131
Businesses Nearby
6k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 74%
Shops & Services 13%
Hotels & Casinos 13%
Burger King
Dining
4,413 visits/mo
0.4 miles
Dollar Tree
Shops & Services
784 visits/mo
0.4 miles
Motel 6
Hotels & Casinos
745 visits/mo
0.4 miles
Demographics for 66044, KS
28,276
Population
12,723
Households
2.2
Avg Household Size
28
Median Age
54%
College-Educated
95%
High-School Grad
64.2 sq mi
ZIP Area
440
Density / Sq Mi
$56,340
Median Household Income
$20,271
Median Earnings
$999
Median Rent
$228,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
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.
