Long-Term Verizon Retail
4651 Bauer Farm Dr, Lawrence, KS 66049
For Sale
$1,690,000
A retail storefront sold with a long-term lease to an authorized Verizon retailer with multiple renewal options.
Property Size2,400 SF
Days on Market148
Property Features for 4651 Bauer Farm Dr
General Information
Standard status
Size
Property subtype
Building Details
Building Size
Year Built
Tenancy
Listing Agency:
CP Partners
Listed By:
John Andreini · License CA #01440360
(415) 274-2715
Source:
Cppcre
Added: Jun 16
Changed: Nov 2
Last Checked: Nov 8 at 3:21AM
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 CP Partners
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property is a retail storefront offered for sale with an existing long-term lease to the largest authorized Verizon retailer in the U.S. The lease has more than three years remaining in the base term, along with three, five-year options to extend. Rental increases are scheduled at 10% for the renewal periods.
The asset is located in Lawrence, a densely populated college town home to the University of Kansas, with 30,770 students.
For buyers seeking a stabilized, single-tenant retail investment with an ongoing operator in place, this offering centers on the remaining base term and the clearly defined extension options. Prospective investors and retail-focused buyers can underwrite the lease duration and the stated rent increase structure for future option periods, using the current lease as the primary driver of cash flow expectations.
The asset is located in Lawrence, a densely populated college town home to the University of Kansas, with 30,770 students.
For buyers seeking a stabilized, single-tenant retail investment with an ongoing operator in place, this offering centers on the remaining base term and the clearly defined extension options. Prospective investors and retail-focused buyers can underwrite the lease duration and the stated rent increase structure for future option periods, using the current lease as the primary driver of cash flow expectations.
Key Highlights
- Built in 2019
- Long‑term lease to an authorized Verizon retailer
- Lease includes 3+ years remaining in the base term
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,438
Cap Rate
2.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$988,760
$988.8K
Cap Rate 7%
$706,257
$706.3K
Cap Rate 9%
$549,311
$549.3K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$72.3K $30.12/SF
− Vacancy
−$1.7K −$0.69/SF
EGI
$70.6K $29.43/SF
− OpEx
−$21.2K −$8.83/SF
NOI
$49.4K $20.60/SF
Area
Douglas County, KS
Vacancy
2.30%
Lease Rate
$30.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$988,760
Cap Rate 7%
$706,257
Cap Rate 9%
$549,311
Alternative Uses
Best Use
Retail
$706.3K
$618.0K – $824.0K
NOI $49,438 @ 7.0% cap · market cap 2.93%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
584
Businesses Nearby
231k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 40%
Superstores 26%
Groceries 21%
Shops & Services 10%
Walmart
Superstores
60,353 visits/mo
0.4 miles
Dillons
Groceries
35,718 visits/mo
0.1 miles
McDonald's
Dining
27,197 visits/mo
0.3 miles
Sprouts Farmers Market
Groceries
11,974 visits/mo
0.1 miles
The Big Biscuit
Dining
11,083 visits/mo
0.2 miles
Demographics for 66049, KS
32,131
Population
15,405
Households
2.1
Avg Household Size
37
Median Age
62%
College-Educated
96%
High-School Grad
45.2 sq mi
ZIP Area
711
Density / Sq Mi
$90,755
Median Household Income
$49,826
Median Earnings
$1,145
Median Rent
$362,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - A retail storefront sold with a long-term lease to an authorized Verizon retailer with multiple renewal options.
Where is this retail space located?
The property is located at 4651 Bauer Farm Dr Lawrence, KS.
What is the asking price?
The asking price for this property is $1,690,000.
What are key features of this property?
This property features: Built in 2019; Long‑term lease to an authorized Verizon retailer; Lease includes 3+ years remaining in the base term
