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Property profile & analytics
OFF-MARKET
Estimated value
$565,000
Office buildings
1045 23rd St Lawrence, KS 66046-5003
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US33-0908104
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
2005
Construction
FRAME
Total area
6,400 SF
Lot
0.54 ac (23,522 SF)
APN
103-08-0-20-02-004.00-0
UPID
US33-0908104
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Brian Mills - Aflac Insurance Agent Insurance Agency
-
Sharma Mckinney Pediatrician Physician
-
SHARMA CATHERINE PROSSER MCKINNEY Pediatrician Physician
-
Lawrence Business Center Real Estate Agency
-
AREN EMMALINE WESTFALL Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$450k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$678k
Blend (final)
Blend
$565k
Owner & transaction history
Hms Capital LLC · 8 yrs held
Hms Capital LLC
since 2017
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$705,000
+11.9%
Medical building
$680,000
+7.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lawrence submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lawrence submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$450,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$630,000
Current use
COMMERCIAL (GENERAL)
$705,000
Change: +12% · Conversion: Easy
MEDICAL BUILDING
$680,000
Change: +8% · Conversion: Easy
RETAIL STORES
$615,000
Change: -2% · Conversion: Moderate
AUTO REPAIR, GARAGE
$510,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$565k
Range $509k – $622k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$88 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$23,255
Tax year 2023
Assessed value
$177,350
Assessed 2023
Previous assessed
$177,350
+0.0% YoY
Effective rate
13.11%
On assessed value
Assessed land
$57,420
Assessed improvement
$119,930
Land market value
$229,680
Improvement market value
$479,720
Total market value
$709,400
Applied tax rate
41.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
2005
Construction
FRAME
Heating
YES
Cooling
AC.PACKAGE
Stories
2
Total area
6,400 SF
Lot
0.54 ac (23,522 SF)
APN
103-08-0-20-02-004.00-0
UPID
US33-0908104
Jurisdiction
DOUGLAS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$630,000
COMMERCIAL (GENERAL)
Est. value
$705,000
MEDICAL BUILDING
Est. value
$680,000
RETAIL STORES
Est. value
$615,000
AUTO REPAIR, GARAGE
Est. value
$510,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
MEDICAL BUILDING
RETAIL STORES
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2005
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
2
Lot
0.54 ac
Current owner
From public records · entity-resolved
Hms Capital LLC
Entity
Mailing address
1045 E 23RD ST, LAWRENCE, KS 66046-5003
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 21, 2025
—
Hms Capital LLC
—
Deed
related
—
Jun 26, 2020
—
Hms Capital LLC
—
Deed
related
$640,000 · The Kaw Valley State Bank & Trust Co
Jan 22, 2018
—
Hms Capital LLC
—
Deed
related
$30,000 · Kaw Valley State Bank
Sep 5, 2017
—
Hms Capital LLC
Lawrence Business Center LLC
Warranty Deed
$548,000 · Kaw Valley State Bank
May 10, 2016
—
Lawrence Business Center LLC
—
Deed
related
$552,500 · Central Bank Of The Midwest
Apr 25, 2016
—
Joseph M Whelan
Redwine Properties LLC
Warranty Deed
—
Oct 1, 2015
—
Redwine Properties LLC
Commercial Loan Solutions III LLC
Special Warranty Deed
$310,250 · Central Bank Of The Midwest
Nov 27, 2012
$540,000
Commercial Loan Solutions III LLC
Larry H Midyett
Sheriffs Deed
related
—
Feb 11, 2011
—
23rd Street Holdings L L C
Larry H Midyett
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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