Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    2500 31St St Lawrence, KS 66047

    Sponsored
    For Sale
    $550,000

    5,976 SF, high-potential income

    Property size:
    5,976 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    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 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

    HighLights

    • 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%.
    • Located in the Long Island Business Center, a thriving commercial hub.
    • CS zoning; HOA covers water, trash, exterior maintenance, and insurance.
    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
    State
    Kansas
    Longitude
    -95.2660283
    Latitude
    38.9286923

    Nearby Similar for Sale

    • $684,000
      2,728 SF

      Clock House Farm Estate

      Unique farm estate with a prominent clock tower feature.
      417 Highway 40 West, Lawrence, KS 66049
      View Details
    • $270,000

      Unique Investment Property Near Lawrence

      Investment opportunity with income potential near Lawrence, Kansas.
      25388 Chieftain Rd, Lawrence, KS 66044
      View Details
    • $270,000

      Unique Investment Property Near Lawrence

      Investment opportunity near Lawrence with multiple rental units.
      25388 Chieftain Rd, Lawrence, KS 66044
      View Details
    • $880,000
      0.92 Acres

      Profitable Market and Building Included

      Profitable market with building, equipment, and inventory included in sale.
      530 Colorado St, Lawrence, KS 66044
      View Details
    • $582,000
      3,667 SF

      Luxury Townhome with Golf Course Views

      Spacious 4BR townhome with high-end finishes and golf course views.
      1908 Crossgate Dr, Lawrence, KS 66047
      View Details
    • $1,640,000
      2,952 SF

      Lawrence Retail Building For Sale

      NNN leased retail investment opportunity in downtown Lawrence, Kansas.
      8 W 8Th St, Lawrence, KS 66044
      View Details
    • $249,000
      1,698 SF

      Charming Townhome with Finished Basement

      Two-bedroom townhome with sunroom, finished basement, and backyard patio.
      1439 Applegate Ct, Lawrence, KS 66049
      View Details
    • $255,000
      1,320 SF

      Move-In Ready Lawrence Home

      Open floor plan, updated kitchen, and convenient location in Lawrence.
      5245 Overland Dr, Lawrence, KS 66049
      View Details
    • Contact for pricing
      63,912 SF

      Downtown Lawrence Redevelopment Opportunity

      Premier downtown location with redevelopment potential and strong tenants.
      900 Massachusetts St, Lawrence, KS 66044
      View Details
    • $3,125,000
      57,406 SF

      Lawrence Office Building For Sale

      Prominent office building in downtown Lawrence, qualified opportunity zone.
      609 New Hampshire St, Lawrence, KS 66044
      View Details
    • $2,500,000
      23,200 SF

      Retail Anchor Space For Sale

      Prime retail space in Lawrence, Kansas, near University of Kansas.
      2329 Iowa St, Lawrence, KS 66046
      View Details
    • $250,000
      16,384 SF

      Versatile Commercial Property Near I-70

      Conveniently located commercial property suitable for various business uses.
      1401 N 1941 Diagonal Rd, Lawrence, KS 66044
      View Details

    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%.
    Request Owner's contact information
    2500 31St St Lawrence, KS 66047
    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.
    2500 31St St
    Lawrence, KS 66047
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    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.

    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.

    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
    2500 31St St Lawrence, KS 66047
    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
    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.