Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Property profile & analytics

    6th St & Hwy Lawrence, KS 66049

    • Land
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 6th St & Hwy

    Property type
    Land

    Description

    Two exceptional development parcels totaling approximately 23.5 acres are available in a rapidly expanding area of West Lawrence, Kansas. This prime real estate boasts convenient access to three major highways: US Highway 40, I-70, and Highway 10 (South Lawrence Trafficway), ensuring excellent connectivity and accessibility. The property is strategically located directly across from the new Rock Chalk Park and the recently completed LMH Health West Campus, providing immediate proximity to significant community amenities and a growing population base. Both lots are currently undeveloped, but utilities are readily available, simplifying the development process. The western lot (Lot A) encompasses approximately 5 acres, while the eastern lot (Lot B) comprises approximately 18.5 acres. The combined acreage offers a unique opportunity for large-scale development projects. The property is zoned AG and is offered at an attractive price of $1,995,000, translating to approximately $1.94 per square foot. This presents a compelling investment opportunity in a high-growth corridor of Lawrence, Kansas. The seller is Gateway, LLC.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lawrence
    County
    Douglas
    State
    Kansas
    Longitude
    -95.3028
    Latitude
    38.9716

    Comparable in this City

    • Value Estimation by Request

      5015 Bob Billings Pkwy

      Land
      5015 Bob Billings Pkwy, Lawrence, KS 66049
      View Details
    • Value Estimation by Request
      128.00 Acres

      1543 900Th Rd

      Land • 128.00 Acres
      1543 900Th Rd, Lawrence, KS 66049
      View Details
    • Value Estimation by Request
      1.40 Acres

      Bob Billings Pkwy & Research Park Dr

      Land • 1.40 Acres
      0 Bob Billings Pkwy & Research Park Dr, Lawrence, KS 66049
      View Details
    • Value Estimation by Request
      110.00 Acres

      895 1549 Rd

      Land • 110.00 Acres
      895 1549 Rd, Lawrence, KS 66049
      View Details
    • Value Estimation by Request

      515 Mcdonald Dr

      Land
      515 Mcdonald Dr, Lawrence, KS 66049
      View Details
    • Value Estimation by Request
      17.56 Acres

      Tbd

      Land • 17.56 Acres
      0 Tbd, Lawrence, KS 66049
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      90.00 Acres

      West Lawrence Commercial Land

      90 Acres, prime location, high-growth area.
      6265 Rock Chalk Dr, Lawrence, KS 66049
      View Details
    • $298,000

      Lawrence Commercial Land - $298K

      Prime Commercial Lot, Ready to Build
      3809 6Th St, Lawrence, KS 66049
      View Details
    • $350,000

      Prime Lawrence Commercial Land

      2.6-Acre Corner Lot, IBP Zoning
      5015 Bob Billings Pkwy, Lawrence, KS 66049
      View Details
    • $197,500
      5.00 Acres

      Buildable Land Parcel Near Lawrence

      5 acre buildable tract with road frontage near Lawrence, Kansas.
      5ac N 1000 Rd, Lawrence, KS 66049
      View Details
    • $180,000
      0.82 Acres

      Residential Land in Fall Creek

      Residential land with basketball court in Lawrence, Kansas.
      3708 Buck Brush Ct, Lawrence, KS 66049
      View Details
    • $140,000
      0.89 Acres

      Residential Land in Fall Creek

      Land for sale in Fall Creek Farms development.
      Fall Creek Rd, Lawrence, KS 66049
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Land Sites Near Rock Chalk

      Land sites adjacent to Rock Chalk Park and KU Athletics.
      6202 W 6Th St, Lawrence, KS 66049
      View Details
    • $9 SF/Yr
      24,000 SF

      Lakeview Road Office Suites

      Lawrence, KS Executive Office Space
      2901 Lakeview Rd, Lawrence, KS 66049
      View Details
    • $1,950 /Mo
      1,600 SF

      Lawrence Office Space For Rent

      1,600 SF office space with private offices and reception.
      536 Fireside Ct, Lawrence, KS 66049
      View Details
    • $430 /Mo
      90 SF

      Remodeled Office Space Available

      Private office space with shared amenities, utilities and Wi-Fi included.
      1505 Kasold Dr, Lawrence, KS 66049
      View Details
    • $14 SF/Yr
      1,646 SF

      Lawrence Retail Space Available

      Retail space available for lease in Lawrence, Kansas.
      1410 Kasold Dr, Lawrence, KS 66049
      View Details
    • $13 SF/Yr
      3,920 SF

      Mesa Way Office Space

      Office space for rent in central Lawrence location.
      501 Gateway Dr, Lawrence, KS 66049
      View Details
    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.
    6th St & Hwy
    Lawrence, KS 66049
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.