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Property profile & analytics
FOR LEASE
Retail space
2311 Wakarusa Dr Lawrence, KS 66047-3311
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US33-0908994
No photos on file
For Lease
$475,000
2311 Wakarusa Dr, Lawrence, KS 66047-3311
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1998
Total area
7,690 SF
Lot
0.77 ac (33,541 SF)
APN
112-09-0-00-00-006.01-0
UPID
US33-0908994
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
-
WalkerTouch Alternative Medicine Practice Spa & Massage Center
-
Auntie Em's Deli & Bakery Take-out & Catering
-
Marks Physical Therapy Physician
-
Back in Balance Family Chiropractic Alternative Medicine Practice
-
Sara Fox - Coldwell Banker Griffith and Blair Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$475k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$809k
Blend (final)
Blend
$475k
Owner & transaction history
Arc Investments LLC · 8 yrs held
Arc Investments LLC
since 2018
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.0M
+47.6%
Commercial (general)
$845,000
+21.8%
Medical building
$815,000
+17.5%
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
$475,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$695,000
Current use
OFFICE BUILDING
$1,025,000
Change: +48% · Conversion: Easy
COMMERCIAL (GENERAL)
$845,000
Change: +22% · Conversion: Easy
MEDICAL BUILDING
$815,000
Change: +18% · Conversion: Difficult
AUTO REPAIR, GARAGE
$780,000
Change: +12% · Conversion: Difficult
Blend value · Realmo final
$475k
Range $428k – $523k · ±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
$62 / 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
$33,781
Tax year 2023
Assessed value
$257,625
Assessed 2023
Previous assessed
$257,625
+0.0% YoY
Effective rate
13.11%
On assessed value
Assessed land
$64,845
Assessed improvement
$192,780
Land market value
$259,380
Improvement market value
$771,120
Total market value
$1,030,500
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
1998
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Total area
7,690 SF
Lot
0.77 ac (33,541 SF)
APN
112-09-0-00-00-006.01-0
UPID
US33-0908994
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
RETAIL STORES Current
Est. value
$695,000
OFFICE BUILDING
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$845,000
MEDICAL BUILDING
Est. value
$815,000
AUTO REPAIR, GARAGE
Est. value
$780,000
RETAIL STORES Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
MEDICAL BUILDING
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
1998
Heating
YES
Cooling
Yes
Stories
1
Lot
0.77 ac
Current owner
From public records · entity-resolved
Arc Investments LLC
Entity
Mailing address
3719 SW CLARION PARK DR, TOPEKA, KS 66610-1277
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 31, 2018
—
Arc Investments LLC
Joe C Voth
Warranty Deed
$1,008,000 · Envista Cu
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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