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    450 Iowa St Lawrence, KS 66044

    For Sale
    $989,000

    High-yield warehouse with office space.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This Lawrence, Kansas industrial property offers a compelling investment opportunity. The 11,000 square foot property, situated on a 1.16-acre lot, comprises two buildings: a 5,400 square foot office building and a 5,600 square foot warehouse. Constructed in 2000 with significant renovations in 2014, 2019, and 2023, the property boasts a metal-on-steel frame construction. The property features 40 parking stalls and is currently 87.73% occupied, generating a strong NOI of $75,048 and a 7.59% cap rate. The asking price is $989,000. Zoned PCD, this versatile property offers various usage possibilities, including owner-occupancy. A 1,350 square foot office suite is currently available for lease at $2,150 per month gross. This property presents a rare chance to acquire a well-maintained, high-performing asset in a desirable location. The property's recent renovations and strong occupancy rate make it an attractive investment for both seasoned and new investors. Don't miss this chance to own a piece of Lawrence's thriving commercial real estate market.

    Property Features for 450 Iowa St

    General Information

    Property type
    Distribution properties
    Lot Size
    50,530 SF

    Building Details

    Year Built
    2000

    HighLights

    • 2000‑built industrial warehouse with recent renovations (2014, 2019, 2023).
    • 11,000 square foot building totaling 5,400 SF of office space and 5,600 SF of warehouse space.
    • 1,350 SF office suite available for lease at $2,150/month gross.
    • 1.16‑acre site with 40 parking stalls.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    AeroVironment, Inc. Aerospace Company Rotech Inc Clothing Store

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Wholesale Shop Clothing Store Hotel & Motel Gym & Fitness Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lawrence
    County
    Douglas
    State
    Kansas
    Longitude
    -95.2600086
    Latitude
    38.9926622

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    FAQs

    What type of property is this?
    Distribution property - High-yield warehouse with office space.
    Where is this distribution property located?
    The property is located at 450 Iowa St Lawrence, KS.
    What is the asking price?
    The asking price for this property is $989,000.
    What are key features of this property?
    This property features: 2000-built industrial warehouse with recent renovations (2014, 2019, 2023).; 11,000 square foot building totaling 5,400 SF of office space and 5,600 SF of warehouse space.; 1,350 SF office suite available for lease at $2,150/month gross.
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    Lawrence, KS 66044
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    450 Iowa St Lawrence, KS 66044
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