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2500 31St St Lawrence, KS 66047

Sponsored
For Sale
$550,000

Spacious Two-Story Office Building, High Potential

Description

Added:
Dec 11, 2024
Days on Market:
392
This exceptional two-story office building, situated at 2500 W 31st Street in Lawrence, Kansas, presents a compelling investment opportunity. Built in 1991, this 5,976 square foot property (3,576 sq ft lower level, 2,400 sq ft upper level) sits on a 3,600 square foot lot and is part of the Long Island Business Center, an established 8-unit complex. Currently, the lower level is leased for $3,500 per month, generating a 3.7% cap rate. The upper level offers significant upside potential, with rental projections of $2,250 per month, potentially increasing the overall cap rate to 8.6%. The adaptable space is ideal for a variety of uses, including retail, office headquarters, or a co-working space. The asking price is $550,000. Association dues cover water, trash, exterior maintenance, building insurance, lawn care, and snow removal, minimizing owner responsibilities. This property offers a blend of immediate income and substantial growth potential in a desirable Lawrence location, making it an attractive investment for discerning buyers. The zip code is 66047.

Property Features for 2500 31St St

General Information

Property type
Office Properties & Spaces

Building Details

Year Built
1991
Stories
2

HighLights

  • $550,000 asking price.
  • Two‑story, 5,976 square foot office building (3,576 sq ft lower level, 2,400 sq ft upper level) in Lawrence, KS.
  • Built in 1991, situated on a 3,600 square foot lot.
  • Located at 2500 W 31st Street, Lawrence, KS 66047.
  • Lower level currently leased for $3,500/month (3.7% cap rate), with potential to lease the upper level for an additional $2,250/month (potential 8.6% cap rate).
  • HOA covers water, trash, exterior maintenance, building insurance, lawn care, and snow removal.
Property Profile Location Intelligence

Current Use by Public Records

Redding Larry Massage Therapist Lawrence Fastpitch Softball ... Softball Club Michael Mcrill Social Worker Omni Fitness Gym Stuart Plumbing Co Plumber

Suggested Use

Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

Location Insight

  • Map
  • Local Demand
City
Lawrence
County
Douglas, KS
State
Kansas
Longitude
-95.2660283
Latitude
38.9286923

FAQs

What type of property is this?
Office Property / Space - Spacious Two-Story Office Building, High Potential
Where is this office property / space located?
The property is located at 2500 31St St Lawrence, KS.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: $550,000 asking price.; Two-story, 5,976 square foot office building (3,576 sq ft lower level, 2,400 sq ft upper level) in Lawrence, KS.; Built in 1991, situated on a 3,600 square foot lot.
More about this property
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