1116 23Rd StLawrence, KS 66046
- Retail space
- 7,802 SF
Property Details for 1116 23Rd St
- Year built
- 1986
- Construction
- FRAME
- Lot size
- 0.68 AC
- Property size (Sq ft)
- 7,802 SF
- Property type
- Retail space
- APN
- 111-01-0-40-20-014.01-0
- APU
- 1110104020014010
Description
This exceptional multi-tenant retail property in Lawrence, Kansas, presents a compelling investment opportunity. Located at 1116 W 23rd St, this 7,622 square foot, single-story building sits on a 0.66-acre lot and boasts 100% occupancy across three units. Currently generating a Net Operating Income (NOI) of $102,695, the property offers a strong 7.75% capitalization rate and an asking price of $1,330,000 ($174.49/sq ft). Built in 1986 and zoned CS, the property benefits from a highly desirable location less than a mile from the University of Kansas, serving a large student population exceeding 28,000. The strong demographics of the area, with over 97,432 residents within a 5-mile radius and an average household income of $83,900, further enhance its appeal. The property is shadow-anchored by a high-performing Dillons grocery store and enjoys excellent visibility and accessibility from West 23rd Street, experiencing over 30,039 vehicles per day. Current tenants include Boost Mobile, with 1.7 years remaining on their lease. This value-add opportunity allows for potential rent increases or future re-tenanting. The property's strategic location, strong tenant base, and high cap rate make it an attractive investment for discerning buyers.
Location Insight
- City
- Lawrence
- County
- Douglas
- State
- Kansas
- Latitude
- 38.9431
- Longitude
- -95.249
- CBSA code
- 29940
- CBSA name
- LAWRENCE, KS METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker?
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].