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Property profile & analytics
OFF-MARKET
Estimated value
$715,000
Strip malls
565 Wakarusa Dr Lawrence, KS 66049-3212
Entity Owned
Absentee Owner
Free & Clear
Property ID
US33-0884500
Property summary
AI-generated overview
This exceptional 2,500 square foot retail endcap space is situated at 565 Wakarusa Drive in Lawrence, Kansas, zip code 66049. Located on a highly visible corner lot at the intersection of West 6th Street and Wakarusa Drive, this property boasts a prime location within the Wakarusa & West submarket. The building, constructed in 2017, is a single-story Class B structure totaling 10,703 square feet and sits on a 1.89-acre lot. The space is currently vacant and immediately available for lease. The zoning is PCD. This is a single-suite property, with the entire 2,500 square feet available for lease. The minimum divisible space is 2,500 square feet, and the maximum contiguous space is also 2,500 square feet. This presents a unique opportunity for businesses seeking high visibility and accessibility in a thriving commercial area. The property's strategic location ensures significant foot traffic and exposure, making it ideal for a variety of retail uses. Don't miss this chance to establish your business in a highly sought-after location.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2017
Total area
10,681 SF
Lot
1.89 ac (82,328 SF)
APN
068-28-0-00-00-023.00-0
UPID
US33-0884500
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
-
Dr. Anjali Doshi Dental Office
-
Dr. Nicholas Bell Dental Office
-
Orangetheory Fitness Gym & Fitness Center
-
Smoothie King Restaurant Take-out & Catering
-
AT&T Store Telecommunications Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$790k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$640k
Blend (final)
Blend
$715k
Owner & transaction history
565 WAKARUSA DRIVE LLC
565 WAKARUSA DRIVE LLC
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.2M
+157.0%
Medical building
$1.1M
+147.9%
Auto repair, garage
$1.1M
+136.3%
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
$790,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$455,000
Current use
COMMERCIAL (GENERAL)
$1,175,000
Change: +157% · Conversion: Easy
MEDICAL BUILDING
$1,135,000
Change: +148% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,080,000
Change: +136% · Conversion: Difficult
OFFICE BUILDING
$980,000
Change: +115% · Conversion: Moderate
RETAIL STORES
$965,000
Change: +111% · Conversion: Easy
WAREHOUSE, STORAGE
$695,000
Change: +52% · Conversion: Difficult
Blend value · Realmo final
$715k
Range $644k – $787k · ±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
$67 / 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
$112,490
Tax year 2023
Assessed value
$857,875
Assessed 2023
Previous assessed
$857,875
+0.0% YoY
Effective rate
13.11%
On assessed value
Assessed land
$288,550
Assessed improvement
$569,325
Land market value
$1,154,200
Improvement market value
$2,277,300
Total market value
$3,431,500
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2017
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Total area
10,681 SF
Lot
1.89 ac (82,328 SF)
APN
068-28-0-00-00-023.00-0
UPID
US33-0884500
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$455,000
COMMERCIAL (GENERAL)
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.1M
OFFICE BUILDING
Est. value
$980,000
RETAIL STORES
Est. value
$965,000
WAREHOUSE, STORAGE
Est. value
$695,000
NEIGHBORHOOD: SHOPPING CENTER Current
COMMERCIAL (GENERAL)
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
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
2017
Heating
YES
Cooling
Yes
Stories
1
Lot
1.89 ac
Current owner
From public records · entity-resolved
565 WAKARUSA DRIVE LLC
Entity
Free & Clear · 0 yrs held
Mailing address
1580 COPPERFIELD PKWY, COLLEGE STATION, TX 77845-4674
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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