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Property profile & analytics
OFF-MARKET
Estimated value
$1,840,000
Office Spaces
1204 24th St Lawrence, KS 66046-5128
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US33-1577923
Property summary
AI-generated overview
This exceptional industrial flex space, located at 1204 E 24th St, Lawrence, KS 66046, offers a range of unit sizes from 2,300 to 11,100 square feet, perfect for businesses needing adaptable space. The property is a brand-new construction, completed in 2024, ensuring modern amenities and efficient design. Situated in Douglas County, this single-tenant building provides ample space for various operational needs. The high ceilings, measuring 18 feet, offer significant vertical clearance, ideal for storage or specialized equipment. The flex space design allows for customization to suit a variety of business types, providing flexibility for both office and warehouse functions. The property's location in Lawrence, Kansas offers easy access to major transportation routes, making it a strategic location for distribution and logistics. This build-to-suit opportunity allows for potential customization to meet specific tenant requirements, ensuring a space perfectly tailored to your business needs. Contact us today to learn more about this prime industrial flex space and explore the possibilities for your business.
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2021
Total area
11,520 SF
Lot
1.67 ac (72,745 SF)
APN
103-08-0-20-02-003.01-0
UPID
US33-1577923
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
-
Ground Theory Jiu Jitsu Training Center Sports School
-
Uncle Huck Sewer & Septic Plumbing Service
-
Inspired Aerial Arts Theater & Performing Art Venue
-
Kaw Valley CrossFit Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.84M
Comparable Approach
Comparable
$1.84M
Blend (final)
Blend
$1.84M
Owner & transaction history
Bp3 LLC · 4 yrs held
Bp3 LLC
since 2022
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.8M
+43.8%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$1,985,000
6.5%
$1,835,000
7%
$1,705,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,265,000
Current use
RESTAURANT
$1,820,000
Change: +44% · Conversion: Difficult
MEDICAL BUILDING
$1,220,000
Change: -4% · Conversion: Easy
OFFICE BUILDING
$1,135,000
Change: -11% · Conversion: Easy
RETAIL STORES
$1,105,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$1.84M
Range $1.66M – $2.02M · ±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
$160 / 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
$39,702
Tax year 2023
Assessed value
$304,201
Assessed 2024
Previous assessed
$304,201
+0.0% YoY
Effective rate
13.05%
On assessed value
Assessed land
$37,783
Assessed improvement
$266,418
Land market value
$151,130
Improvement market value
$1,065,670
Total market value
$1,216,800
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 Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
2021
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Total area
11,520 SF
Lot
1.67 ac (72,745 SF)
APN
103-08-0-20-02-003.01-0
UPID
US33-1577923
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
COMMERCIAL (GENERAL) Current
Est. value
$1.3M
RESTAURANT
Est. value
$1.8M
MEDICAL BUILDING
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.1M
RETAIL STORES
Est. value
$1.1M
COMMERCIAL (GENERAL) Current
RESTAURANT
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
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
2021
Heating
YES
Cooling
Yes
Stories
1
Lot
1.67 ac
Current owner
From public records · entity-resolved
Bp3 LLC
Entity
Mailing address
PO BOX 8330, TOPEKA, KS 66608-0330
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 18, 2024
—
Bp3 LLC
—
Deed
related
$950,000 · Citizens State Bank
May 9, 2022
—
Bp3 LLC
8n LLC
Warranty Deed
$1,183,000 · Citizens State Bank
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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