2500 W 31st. Unit H Lawrence, KS 66047
Two-story commercial space in a thriving business center.
Type:Office
Property size:
5,976 SF- Added:
- Apr 1, 2024
- Days on Market:
- 748
- Last Refresh:
- Mar 17 at 1:25 pm
Property Features for 2500 W 31st. Unit H
General Information
- Standard status
- Active
- Size
- 5,976 SF
- Property subtype
- Office
Building Details
- Year Built
- 1991
Listing agent Doug Brown License #Kansas 00031909
Listing office McGrew Commercial
Listing date Apr 1, 2024
Source Crexi
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
Overview
Versatile Commercial Space in Lawrence
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%.
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
- -95.2662554
- Latitude
- 38.9283816
Nearby Similar for Sale
FAQs
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.
