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    Property profile & analytics

    1 Riverfront Plz Lawrence, KS 66044

    • Office buildings
    • 111,000 SF
    For Sale
    View listing
    $5,000,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US33-0849848
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • TDI Global Solutions, Inc. / Packaging Company
    • City Hall Riverfront - Planning & Development Services / Government Office
    • Leo Center Benevolence / Social Services Organization
    • City of Lawrence, KS Community Development Division / Urban Planning Department
    • Lawrence Building Inspection / City Government Office

    Property Details for 1 Riverfront Plz

    Year built
    1988
    Property size
    111,000 SF
    Property type
    Office buildings
    APN
    079-30-0-30-22-001.03-1
    APU
    793003022001031

    Description

    This exceptional investment opportunity presents two buildings totaling 110,000 net rentable square feet situated at 1 Riverfront Plaza and 1 Riverfront Plz Bldg West in Lawrence, Kansas, 66044. Currently configured as office space, with 22% occupancy (22,000 sq ft leased to the City of Lawrence), this property offers significant redevelopment potential. The asking price is $5,000,000, translating to $45.45 per square foot. The property's location offers fantastic river views and is ideally positioned in downtown Lawrence, a vibrant city just 20 miles east of Topeka and 35 miles west of Kansas City. The surrounding area boasts a highly educated population, thanks to the presence of the University of Kansas, Haskell Indian Nations University, and Baker University. The property is zoned for multifamily or condo redevelopment, presenting a unique chance for owner-occupied or tenant redevelopment. The flexible space, ranging from 44,000 to 66,000 square feet per building, allows for diverse development options. This is a rare chance to acquire a substantial property in a thriving Kansas community with excellent growth prospects. The lease type is NNN, and the tenancy is multi.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,145,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lawrence
    County
    Douglas
    State
    Kansas
    Longitude
    -95.2331
    Latitude
    38.9732
    CBSA code
    29940
    CBSA name
    LAWRENCE, KS METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $118,887
    $0.00
    $906,663
    $906,663
    -
    $0.00
    $3,626,650
    $3,626,650

    Comparable in this City

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      211 8th St

      OFFICE BUILDING (MULTI-STORY) • 18,229 SF
      211 8th St, Lawrence, KS 66044-2717
      View Details
    • Value Estimation by Request
      25,503 SF

      6 6th St

      OFFICE BUILDING (MULTI-STORY) • 25,503 SF
      6 6th St, Lawrence, KS 66044-2268
      View Details
    • Value Estimation
      $420,000
      2,177 SF

      1207 Iowa St

      OFFICE BUILDING (MULTI-STORY) • 2,177 SF
      1207 Iowa St, Lawrence, KS 66044-1923
      View Details
    • Value Estimation
      $285,000
      1,853 SF

      1127 Iowa St

      OFFICE BUILDING (MULTI-STORY) • 1,853 SF
      1127 Iowa St, Lawrence, KS 66044-1921
      View Details
    • Value Estimation
      $350,000
      3,102 SF

      842 Louisiana St

      OFFICE BUILDING (MULTI-STORY) • 3,102 SF
      842 Louisiana St, Lawrence, KS 66044-2656
      View Details
    • Value Estimation
      $315,000
      2,768 SF

      1037 Vermont St

      OFFICE BUILDING (MULTI-STORY) • 2,768 SF
      1037 Vermont St, Lawrence, KS 66044-2921
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      63,912 SF

      Downtown Lawrence Redevelopment Opportunity

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      900 Massachusetts St, Lawrence, KS 66044
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      Lawrence Office Building For Sale

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    • $4,000,000
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      Lawrence Office Building For Sale

      Office building with tenant in place through 2028.
      1 Riverfront Plz, Lawrence, KS 66044
      View Details
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      Riverfront Plaza Office Building

      Prime Lawrence, KS Office Redevelopment
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      Lawrence Commercial Property For Sale

      Commercial property in Lawrence, Kansas, featuring dedicated parking and basement.
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    • $5,000,000
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      Prime Lawrence Redevelopment Opportunity

      Downtown Lawrence Office/Retail, High Potential
      1 Riverfront Plz, Lawrence, KS 66044
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    Similar Nearby for Lease

    • $20 SF/Yr
      74,484 SF

      Lawrence, KS Office Space for Lease

      Prime Lawrence location, mixed-use building, flexible space.
      901 New Hampshire St, Lawrence, KS 66044
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    • $30 SF/Yr
      49,739 SF

      Prime Lawrence Office Space

      Stylish 22,000 SF Office Building in Lawrence, KS
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      View Details
    • $825 /Mo
      466 SF

      Windowed Office Space in Lawrence

      Second-level office space with abundant natural light for lease.
      947 New Hampshire St, Lawrence, KS 66044
      View Details
    • $25,800
      11,000 SF

      Prime Lawrence Office Space

      11,000 SF Office Building, KS
      450 Iowa St, Lawrence, KS 66044
      View Details
    • $8,400 /Mo
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      Downtown Lawrence Salon Suites

      Modern Suites, Vibrant Location, All-Inclusive
      911 Massachusetts St, Lawrence, KS 66044
      View Details
    • $12 SF/Yr
      9,312 SF

      Downtown Lawrence Retail/Office Space

      Prime Location, Two Suites Available
      646 Vermont St, Lawrence, KS 66044
      View Details
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    1 Riverfront Plz
    Lawrence, KS 66044
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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