Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Versatile Commercial Property Near I-70 Title is generated by Realmo AI

    1401 N 1941 Diagonal Rd, Lawrence, KS 66044

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Commercial property suitable for various uses near farming and lake communities.

    Type:Industrial
    Property size:
    6,384 SF
    Price / SF:
    $39/SF
    Added:
    Feb 27, 2024
    Days on Market:
    830
    Last Refresh:
    May 12 at 9:58 pm

    Property Features for 1401 N 1941 Diagonal Rd

    General Information

    Standard status
    Active
    Size
    6,384 SF
    Property subtype
    Industrial

    Building Details

    Year Built
    1904

    We can help!

    Listing Contact
    Allison Moore

    Listing agent Allison Moore License #KS BR00051570

    Listing office Colliers - Lawrence, Kansas

    Listing date Feb 27, 2024

    Source Crexi

    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

    HighLights

    • Convenient location: 4 minutes from I‑70, 23 minutes to Topeka, and 35 minutes to Kansas City.
    • Suited for various commercial uses: grain storage, service & repair, boat storage & sales, etc.
    • Serves farming and lake communities.
    • Opportunity to revitalize the former Midland Farm Store.
    • Ideal for gas & fuel sales, equipment sales & rentals, lawn & landscape businesses.
    • Suitable for meat locker or contractor shop.

    Overview

    This commercial property is located approximately four minutes from I-70, with drive times of 23 minutes to Topeka and 35 minutes to Kansas City. The property is suited for various users serving the neighboring farming and lake communities. Potential uses include grain storage, service and repair shop, boat storage and sales, gas and fuel sales, equipment sales and rentals, lawn and landscape services, a meat locker, and a contractor shop. The property offers an opportunity to revitalize the former Midland Farm Store. The property size is 6384 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Midland Farm Store (Bike/Boat/Book/etc) Store

    Suggested Use

    Big Box & Wholesale Store Pet Store & Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Lawrence
    County
    Douglas
    State
    Kansas
    Longitude
    -95.257039
    Latitude
    39.036913

    Nearby Similar for Sale

    • $890,000
      10,143 SF

      Lawrence Multifamily Investment Opportunity

      18-unit apartment complex near University of Kansas.
      622 Schwarz Road, Lawrence, KS 66049
      View Details
    • $410,000

      Lawrence Retail/Office Space For Sale

      Retail/Office space with parking, easy access to K10.
      2852 Four Wheel Drive, Lawrence, KS 66047
      View Details
    • $289,000
      1,852 SF

      Duplex with Two 2-Bed Units

      Well-maintained duplex with two 2-bedroom, 1-bath units, each with a 1-car garage and shared fenced yard.
      1027 Jana Drive, Lawrence, KS 66049
      View Details
    • $240,000
      1,957 SF

      Lawrence Triplex Near Downtown

      Triplex near downtown Lawrence with three separate units.
      1105 Connecticut Street, Lawrence, KS 66044
      View Details
    • $225,000
      1,182 SF

      Updated Duplex in Prime Location

      Updated 2 bed, 2 bath duplex in Lawrence, Kansas.
      2508 Crestline Court, Lawrence, KS 66407
      View Details
    • $229,900

      Updated Duplex with Income Potential

      Well-maintained duplex with recent upgrades, ideal for investors/owner-occupants.
      1219 Brook St, Lawrence, KS 66044
      View Details
    • $2,943,704
      2,845 SF

      Lawrence, Kansas Coffee Shop Investment

      Single-tenant 151 Coffee absolute NNN asset for sale.
      1533 W 23rd St, Lawrence, KS
      View Details
    • $450,000
      1,998 SF

      Lawrence Duplex with Garages

      Well-rented duplex with garages and fenced yards in Lawrence.
      3519 and 3521 Morning Dove Circle, Lawrence, KS 66049
      View Details
    • $1,300,000
      5,773 SF

      Turnkey Restaurant Space with Charm

      Renovated restaurant space in walkable, highly-visible area.
      619 Massachusetts St, Lawrence, KS
      View Details
    • $585,000
      2,728 SF

      Historic Estate Residence with Metal Shop

      Historic Greek Revival estate on 5 acres with a chef’s kitchen, three bedrooms, and a large insulated steel shop building.
      417 Highway 40 West, Lawrence, KS 66049
      View Details
    • $5,250,000
      63,912 SF

      Downtown Lawrence Redevelopment Opportunity

      Premier downtown location with redevelopment potential and strong tenants.
      900 Massachusetts St, Lawrence, KS
      View Details
    • $395,000
      2,407 SF

      Downtown Lawrence Retail Space

      Charming retail space in the heart of Downtown Lawrence.
      742 Massachusetts Street, Lawrence, KS 66044
      View Details

    FAQs

    What type of property is this?
    Warehouse - Commercial property suitable for various uses near farming and lake communities.
    Where is this warehouse located?
    The property is located at 1401 N 1941 Diagonal Rd Lawrence, KS.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: Convenient location: **4 minutes from I‑70**, 23 minutes to Topeka, and 35 minutes to Kansas City.; Suited for various commercial uses: grain storage, service & repair, boat storage & sales, etc.; Serves farming and lake communities.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Allison Moore
    Real Estate License ID: KS BR00051570
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1401 N 1941 Diagonal Rd, Lawrence, KS 66044
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!