Versatile Commercial Space in
For Sale
Contact for pricing
Pending
2500 W 31st. Unit H, Lawrence, KS 66047
Two-story commercial space in a thriving business center.
Property Size5,976 SF
Days on Market884
Property Features for 2500 W 31st. Unit H
General Information
Standard status
Pending
Size
5,976 SF
Property subtype
Office
Zoning
CS
Occupancy
60%
Building Details
Year Built
1991
Stories
2
Units
2
Listing Agency:
McGrew Commercial
(800) 530-5490
Listed By:
Doug Brown · License #Kansas 00031909
Source:
Crexi
Added: Apr 1, 2024
Changed: Aug 8
Last Checked: Aug 7 at 6:47AM
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 McGrew Commercial
Investment Insights
Based on property information with market context.
Located in the Long Island Business Center in Lawrence, Kansas, Unit H is a two-story commercial space suitable for office or retail use. The unit offers 5,976 square feet of space, with 3,576 square feet on the lower level and 2,400 square feet on the upper level. The building has been a part of the local business community since 1991. The space offers the flexibility to accommodate various business operations. Association dues cover water, trash disposal, exterior maintenance, and building insurance. The lower level is currently leased, providing rental income. The upper level is currently vacant, offering the potential to lease it out. The lower level is currently leased below market value at $3,500 per month, offering a cap rate of 3.7%. With the upper level easily commanding a rental rate of $2,250 per month, the potential cap rate increases substantially to an impressive 8.6%.
Key Highlights
- High investment potential with a current 3.7% cap rate and upside to 8.6% by leasing the vacant upper level.
- Substantial space: 5,976 sq ft total, suitable for diverse business needs.
- Existing lease on the lower level provides immediate rental income.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
522
Businesses Nearby
Explore this area
Business Placement
Demographics for 66047, KS
19,396
Population
9,368
Households
2.1
Avg Household Size
35
Median Age
55%
College-Educated
97%
High-School Grad
58.2 sq mi
ZIP Area
333
Density / Sq Mi
$61,491
Median Household Income
$33,082
Median Earnings
$1,107
Median Rent
$303,100
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Two-story commercial space in a thriving business center.
Where is this office units located?
The property is located at 2500 W 31st. Unit H 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: High investment potential with a current 3.7% cap rate and upside to 8.6% by leasing the vacant upper level.; Substantial space: **5,976 sq ft total**, suitable for diverse business needs.; Existing lease on the lower level provides immediate rental income.
