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    2223 Louisiana St Lawrence, KS 66046
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    Property profile & analytics

    2223 Louisiana St, Lawrence, KS 66046

    View on Map
    • Strip malls
    • 6,641 SF
    • 2.09 lot acres
    For Lease
    $15 SF/Yr
    View Listing →
    Lawrence Retail/Office/Restaurant Space For Lease
    $15 SF/Yr

    Lawrence Retail/Office/Restaurant Space

    Retail, office, and restaurant spaces available for lease in Lawrence.

    2223 - 2233 Louisiana Street, Lawrence, KS 66046
    View Listing
    Property ID
    US33-0887369
    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.
    Value Estimations
    $565,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Thai Diner / Restaurant
    • Endless Summer Tan / Tanning Salon
    • MoneyGram / Bank / Credit Union
    • Western Union / Bank / Credit Union
    • Tea Spa Massage / Alternative Medicine Practice / Spa & Massage Center

    Property Details for 2223 Louisiana St

    Year built
    1986
    Lot size
    2.09 lot acres
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    111-01-0-40-21-015.00-0
    APU
    1110104021015000

    Description

    The Louisiana Purchase Shopping Center, located at 2223-2233 Louisiana Street in Lawrence, Kansas (zip code 66046), offers a prime retail, office, and restaurant opportunity. This multi-tenant property boasts a total of 22,997 square feet, with 16,357 square feet currently vacant and available for lease. The building is ideally situated in Douglas County, enjoying excellent traffic flow due to its proximity to the University of Kansas and Lawrence High School. Spaces are divisible to a minimum of 995 square feet, with a maximum contiguous space of 4,345 square feet, providing flexibility for various business needs. Ample parking is available with a total of 25,081 spaces. The property is classified as a neighborhood center, offering traditional and executive office spaces, making it suitable for a wide range of tenants. This location presents a unique opportunity to establish or expand a business in a thriving and well-connected area of Lawrence, Kansas. The property's convenient location and substantial available space make it an attractive investment for businesses seeking high visibility and accessibility. Contact us today to learn more about leasing opportunities at this exceptional property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $730,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $397,000
      Market price range: $148k - $398k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $730,000
      MEDICAL BUILDING
      $705,000
      OFFICE BUILDING
      $655,000
      RETAIL STORES
      $640,000
      AUTO REPAIR, GARAGE
      $525,000
      WAREHOUSE, STORAGE
      $430,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Lawrence
    County
    Douglas
    State
    Kansas
    Longitude
    -95.2426
    Latitude
    38.9434
    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
    $77,607
    $533,173
    $58,253
    $591,426
    -
    $2,132,690
    $233,010
    $2,365,700

    Comparable in this City

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      $590,000
      20,376 SF

      1910 Haskell Ave

      SHOPPING CENTER, STRIP CENTER
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    • Value Estimation
      $1,170,000
      27,782 SF

      2540 Iowa St

      SHOPPING CENTER, STRIP CENTER
      2540 Iowa St, Lawrence, KS 66046-5776
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    • Value Estimation
      $2,350,000
      91,075 SF

      2525 Iowa St

      SHOPPING CENTER, STRIP CENTER
      2525 Iowa St, Lawrence, KS 66046-4042
      View Details
    • Value Estimation
      $1,315,000
      49,813 SF

      2329 Iowa St

      SHOPPING CENTER, STRIP CENTER
      2329 Iowa St, Lawrence, KS 66046-5854
      View Details
    • Value Estimation
      $760,000
      5,632 SF

      3310 Iowa St

      SHOPPING CENTER, STRIP CENTER
      3310 Iowa St, Lawrence, KS 66046-5206
      View Details
    • Value Estimation by Request
      10,010 SF

      1918 23rd St

      SHOPPING CENTER, STRIP CENTER
      1918 23rd St, Lawrence, KS 66046-5069
      View Details

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    • $6,000,000

      395 Acres of Land

      Large land parcel available near Lawrence, Kansas.
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      Exceptional Condition, High Visibility
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      Retail spaces available in high-traffic Lawrence shopping center.
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      Retail Space in Lawrence, Kansas

      Retail spaces available in high-traffic Lawrence shopping center.
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      Retail Space Available For Lease

      Retail property available for lease in Lawrence, Kansas.
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      6,153 SF

      Freestanding Restaurant Building For Lease

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      View Details
    View Listing
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    Lawrence, KS 66046
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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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