2500 31St St Lawrence, KS 66047

This 5,976 square foot creative office space, located at 2500 W 31st, Unit H, Lawrence, KS 66047, presents a compelling investment opportunity. The two-story building, constructed in 1991, sits within the Long Island Business Center, a thriving commercial hub in Douglas County. Currently, the lower level (3,576 sq ft) is leased for $3,500 per month, yielding a 3.7% cap rate. The upper level (2,400 sq ft) is vacant, offering significant upside potential. Leasing this space at a projected $2,250 per month would increase the pro-forma cap rate to an impressive 8.6%. The property is zoned CS and includes association dues covering water, trash, exterior maintenance, and building insurance. The current 60% occupancy provides immediate income, while the vacant upper level allows for increased rental revenue. This property is ideal for investors seeking strong returns and a versatile space suitable for various business uses, including retail or office space. The building is part of an eight-unit complex, established since 1991, indicating a stable and desirable location. This offering represents a chance to capitalize on a below-market lease and a high-potential vacant space in a prime Lawrence location.