Automotive Repair Shop For
For Sale
Contact for pricing
1827 Haskell Ave, Lawrence, KS 66044
East Lawrence automotive repair shop with office and storage.
Property Size4,050 SF
Price / SF$111.11
Days on Market739
Property Features for 1827 Haskell Ave
General Information
Standard status
Active
Size
4,050 SF
Property subtype
Industrial
Zoning
IG
Building Details
Year Built
1975
Stories
1
Tenancy
Single
Listing Agency:
Foundations Commercial Real Estate
(785) 766-6568
Listed By:
Kirsten Flory · License #SP00220332
Source:
Crexi
Added: Aug 16, 2024
Changed: Aug 24
Last Checked: Aug 23 at 5:51AM
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 Foundations Commercial Real Estate
Investment Insights
Based on property information with market context.
This automotive repair shop is located on the East side of Lawrence, just off 19th and Haskell. The property features an open shop space, a lobby, and office space, along with ample storage. It includes one drive-in door and one dock door. The building has 14-foot ceilings and is equipped with 3-phase power. The property size is 4050 square feet.
Key Highlights
- Open shop space with one drive‑in door and one dock door.
- Located just off 19th and Haskell on the East side of Lawrence.
- Features 3‑Phase Power.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,153
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.03%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$543,060
$543.1K
Cap Rate 7%
$387,900
$387.9K
Cap Rate 9%
$301,700
$301.7K
Market Conditions
NOI Build-Up for 4,050 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$41.3K $10.20/SF
− Vacancy
−$2.5K −$0.62/SF
EGI
$38.8K $9.58/SF
− OpEx
−$11.6K −$2.87/SF
NOI
$27.2K $6.70/SF
Area
Douglas County, KS
Vacancy
6.10%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$543,060
Cap Rate 7%
$387,900
Cap Rate 9%
$301,700
Alternative Uses
Best Use
Retail
$1.19M
$1.04M – $1.39M
NOI $83,426 @ 7.0% cap · market cap 18.54%
Second Best
Industrial
$387.9K
$339.4K – $452.6K
NOI $27,153 @ 7.0% cap · market cap 6.03%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
532
Businesses Nearby
53k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
QuikTrip
Shops & Services
41,250 visits/mo
0.5 miles
Dollar General
Shops & Services
8,092 visits/mo
0.2 miles
Sunoco
Shops & Services
1,898 visits/mo
0.1 miles
Public Storage
Shops & Services
1,260 visits/mo
0.5 miles
Demographics for 66044, KS
28,276
Population
12,723
Households
2.2
Avg Household Size
28
Median Age
54%
College-Educated
95%
High-School Grad
64.2 sq mi
ZIP Area
440
Density / Sq Mi
$56,340
Median Household Income
$20,271
Median Earnings
$999
Median Rent
$228,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- King Enterprises — 939 E 23rd St suite b, Lawrence, KS 66046
- Midwest Auto Diagnostics & Repair — 2414 Ponderosa Dr, Lawrence, KS 66046
- Auto Exchange Service Center — 1200 E 25th St, Lawrence, KS 66046
- Lawrence Mitsubishi Service — 1219 E 23rd St, Lawrence, KS 66046
- Lawrence Kia Service — 1225 E 23rd St, Lawrence, KS 66046
Frequently Asked Questions
What type of property is this?
Auto shop - East Lawrence automotive repair shop with office and storage.
Where is this auto shop located?
The property is located at 1827 Haskell Ave Lawrence, KS.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Open shop space with one drive‑in door and one dock door.; Located just off 19th and Haskell on the East side of Lawrence.; Features 3‑Phase Power.
