2500 31St St Lawrence, KS 66047
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5,976 SF, high-potential income
Property size:
5,976 SFProperty Features for 2500 31St St
General Information
- Property type
- Office space
- Square Feet
- 5,976 SF
Building Details
- Year Built
- 1991
- Stories
- 2
- Units
- 2
Listing Agency: McGrew Commercial Listing Agent: Doug Brown
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This 5,976 square foot creative office space, located at 2500 W 31st, Unit H, Lawrence, KS 66047, presents a compelling investment opportunity. The two-story building, constructed in 1991, sits within the Long Island Business Center, a thriving commercial hub in Douglas County. Currently, the lower level (3,576 sq ft) is leased for $3,500 per month, yielding a 3.7% cap rate. The upper level (2,400 sq ft) is vacant, offering significant upside potential. Leasing this space at a projected $2,250 per month would increase the pro-forma cap rate to an impressive 8.6%. The property is zoned CS and includes association dues covering water, trash, exterior maintenance, and building insurance. The current 60% occupancy provides immediate income, while the vacant upper level allows for increased rental revenue. This property is ideal for investors seeking strong returns and a versatile space suitable for various business uses, including retail or office space. The building is part of an eight-unit complex, established since 1991, indicating a stable and desirable location. This offering represents a chance to capitalize on a below-market lease and a high-potential vacant space in a prime Lawrence location.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Redding Larry
Alternative Medicine Practice
Lawrence Fastpitch Softball ...
Gym & Fitness Center
Michael Mcrill
Foster Care Service
Omni Fitness
Gym & Fitness Center
Stuart Plumbing Co
Plumbing Service
Location Insight
- Map
- Local Demand
- City
- Lawrence
- County
- Douglas
- State
- Kansas
- Longitude
- -95.2660283
- Latitude
- 38.9286923
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FAQs
What type of property is this?
Office space - 5,976 SF, high-potential income
Where is this office 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: 5,976 SF creative office space in Lawrence, KS, offering significant upside potential.; Lower level (3,576 SF) leased at $3,500/month, 3.7% cap rate.; Vacant upper level (2,400 SF) projected to lease at $2,250/month, increasing cap rate to 8.6%.
