Nine-Building Mixed-Use
For Sale
Contact for pricing
732-937 Massachusetts St, Lawrence, KS 66044
Retail and restaurant space, apartments, and professional offices occupy a downtown Lawrence property assemblage.
Property Size57,210 SF
Price / SF$156.44
Days on Market11
Property Features for 732-937 Massachusetts St
General Information
Standard status
Active
Size
57,210 SF
Property subtype
RETAIL
Additional Details
Road Access
Yes
Building Details
Buildings
9
Tenancy
Multi
Listing Agency:
NAI Heartland | Kansas City
(913) 362-1000
Listed By:
Evan Calkins
(913) 652-9669
Source:
Moodyscre
Added: Oct 5
Changed: Oct 10
Last Checked: Oct 14 at 11:00PM
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 NAI Heartland | Kansas City
Investment Insights
Based on property information with market context.
This Lawrence portfolio comprises nine mixed-use buildings totaling 57,210 square feet. Street-facing ground floors are occupied by retail and restaurant tenants, while apartments are located above. Professional office space is present at 801 and 930 Massachusetts Street. Apartment finishes range from updated units to vintage interiors, and the buildings are described as being in good condition.
The properties are located along the 700, 800, and 900 blocks of Massachusetts Street in downtown Lawrence. The buildings are offered together as one portfolio.
The properties are located along the 700, 800, and 900 blocks of Massachusetts Street in downtown Lawrence. The buildings are offered together as one portfolio.
Key Highlights
- Nine mixed‑use buildings offered as one portfolio
- 57,210 square feet across the assemblage
- Ground‑floor retail and restaurant tenants with apartments above
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$592,124
Cap Rate
6.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,842,480
$11.8M
Cap Rate 7%
$8,458,914
$8.5M
Cap Rate 9%
$6,579,156
$6.6M
Market Conditions
NOI Build-Up for 57,210 SF
Gross rent
$1.03M $18.00/SF
− Vacancy
−$82.4K −$1.44/SF
EGI
$947.4K $16.56/SF
− OpEx
−$355.3K −$6.21/SF
NOI
$592.1K $10.35/SF
Area
Douglas County, KS
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,842,480
Cap Rate 7%
$8,458,914
Cap Rate 9%
$6,579,156
Alternative Uses
Best Use
Retail
$16.84M
$14.73M – $19.64M
NOI $1,178,473 @ 7.0% cap · market cap 13.17%
Second Best
Mixed Use
$8.46M
$7.40M – $9.87M
NOI $592,124 @ 7.0% cap · market cap 6.62%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,923
Businesses Nearby
Explore this area
Business Placement
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Retail and restaurant space, apartments, and professional offices occupy a downtown Lawrence property assemblage.
Where is this mixed-use property located?
The property is located at 732-937 Massachusetts St Lawrence, KS.
What is the asking price?
The asking price for this property is $8,950,000.
What are key features of this property?
This property features: Nine mixed‑use buildings offered as one portfolio; 57,210 square feet across the assemblage; Ground‑floor retail and restaurant tenants with apartments above
