Warehouse with Office
For Sale
Contact for pricing
2210 Delaware St, Lawrence, KS 66046
Industrial building combining dedicated office space with a substantial warehouse area.
Property Size6,803 SF
Price / SF$95.55
Days on Market8
Property Features for 2210 Delaware St
General Information
Standard status
Active
Size
6,803 SF
Property subtype
Industrial
Lease Type
NNN
Warehouse & Industrial
Warehouse Space
6,053 SF
Office Build-Out
750 SF
Building Details
Year Renovated
2026
Tenancy
Single
Building Size
6,803 SF
Listing Agency:
Reece Commercial
(913) 945-3741
Listed By:
Ryan Schulteis · License #KS SP00237647
Source:
Crexi
Added: Aug 12
Changed: Aug 15
Last Checked: Aug 19 at 10:26AM
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 Reece Commercial
Investment Insights
Based on property information with market context.
This warehouse property totals 6,803 square feet and includes a 750-square-foot office component alongside 6,053 square feet of warehouse space. The configuration provides distinct administrative and storage or operational areas within one industrial building.
The property is located at 2210 Delaware St in Lawrence, Kansas 66046.
The property is located at 2210 Delaware St in Lawrence, Kansas 66046.
Key Highlights
- 6,803 SF total building area
- 750 SF of office space
- 6,053 SF of warehouse space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$55,384
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.52%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,107,680
$1.1M
Cap Rate 7%
$791,200
$791.2K
Cap Rate 9%
$615,378
$615.4K
Market Conditions
NOI Build-Up for 6,803 SF
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.
Gross rent
$69.4K $10.20/SF
− Vacancy
−$4.2K −$0.62/SF
EGI
$65.2K $9.58/SF
− OpEx
−$9.8K −$1.44/SF
NOI
$55.4K $8.14/SF
Area
Douglas County, KS
Vacancy
6.10%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,107,680
Cap Rate 7%
$791,200
Cap Rate 9%
$615,378
Alternative Uses
Best Use
Flex RnD
$1.39M
$1.21M – $1.62M
NOI $97,162 @ 7.0% cap · market cap 14.95%
Second Best
Warehouse
$791.2K
$692.3K – $923.1K
NOI $55,384 @ 7.0% cap · market cap 8.52%
Theoretical Best
Retail
$2.00M
$1.75M – $2.34M
NOI $140,135 @ 7.0% cap · market cap 21.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
530
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 66046, KS
19,903
Population
9,452
Households
2.1
Avg Household Size
31
Median Age
46%
College-Educated
96%
High-School Grad
40.8 sq mi
ZIP Area
488
Density / Sq Mi
$58,798
Median Household Income
$31,546
Median Earnings
$937
Median Rent
$217,100
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Industrial building combining dedicated office space with a substantial warehouse area.
Where is this warehouse located?
The property is located at 2210 Delaware St Lawrence, KS.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 6,803 SF total building area; 750 SF of office space; 6,053 SF of warehouse space
