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Property profile & analytics
OFF-MARKET
Estimated value
$310,000
Banks
1600 23rd St Lawrence, KS 66046-5014
Individually Owned
Absentee Owner
Free & Clear
Property ID
US33-0871774
Property summary
AI-generated overview
This exceptional commercial land offering in Lawrence, Kansas, presents a unique investment opportunity. Located at 1600 E 23rd St, this property encompasses a sizable area ranging from 0.55 to 1.43 acres, providing ample space for various commercial ventures. The site is strategically positioned along a major thoroughfare, 23rd Street, which is undergoing significant road improvements slated for completion in Fall 2023. Upon completion, this area is projected to see approximately 25,000 vehicles daily, ensuring high visibility and accessibility for any business established here. The property is divided into two distinct lots. Lot 1 features the footprint of a former drive-thru bank building, offering potential for redevelopment or repurposing. Lot 2 presents a raw land pad, ideal for new construction tailored to specific business needs. This prime location in Douglas County, Kansas, zip code 66046, offers unparalleled potential for growth and return on investment, making it an attractive proposition for developers and entrepreneurs alike. The property's coordinates are 38.943184 latitude and -95.2150572 longitude.
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1995
Total area
1,174 SF
Lot
1.44 ac (62,726 SF)
APN
103-05-0-30-12-009.01-0
UPID
US33-0871774
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
-
U.S. Bank Branch Bank Loan Service
-
U.S. Bank ATM - Southeast Kansas Bank Check Cashing
-
U.S. Bank-Selene Zepeda-Ortiz-Mortgage Loan Officer Loan Service Bank
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$420k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$310k
Owner & transaction history
MERCANTILE BANK LAWRENCE NA
MERCANTILE BANK LAWRENCE NA
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$420,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$310k
Range $279k – $341k · ±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
$264 / 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
$18,113
Tax year 2023
Assessed value
$137,215
Assessed 2023
Previous assessed
$137,215
+0.0% YoY
Effective rate
13.20%
On assessed value
Assessed land
$106,727
Assessed improvement
$30,488
Land market value
$576,900
Improvement market value
$121,950
Total market value
$698,850
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1995
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Total area
1,174 SF
Lot
1.44 ac (62,726 SF)
APN
103-05-0-30-12-009.01-0
UPID
US33-0871774
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
Building & site characteristics
From public records
Year built
1995
Heating
YES
Cooling
Yes
Stories
1
Lot
1.44 ac
Current owner
From public records · entity-resolved
MERCANTILE BANK LAWRENCE NA
Individual
Free & Clear · 0 yrs held
Mailing address
3640 S NOLAND RD STE #200, INDEPENDENCE, MO 64055-3391
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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