1800 23Rd StLawrence, KS 66046

Property Details for 1800 23Rd St

Year built

1999

Lot size

4.86 AC

Property size (Sq ft)

48,786 SF

Property type

Community centers

APN

103-05-0-40-01-007.01-0

APU

1030504001007010

Description

This exceptional retail investment opportunity is located at 1800 E 23rd St, Lawrence, KS 66046, within the thriving Douglas County market. The property, known as 10 Marketplace, is a well-maintained strip center totaling 56,443 square feet, originally constructed in 1999. Currently, there are several spaces available, ranging from a minimum of 850 square feet to a maximum contiguous space of 2,290 square feet. A significant portion of 7,272 square feet is currently vacant, presenting a substantial opportunity for immediate occupancy or lease-up. The flexible space allows for a variety of retail uses, catering to diverse business needs. The property's strategic location on E 23rd St ensures high visibility and accessibility, attracting a substantial customer base. The available space includes a former 15,128 square foot call center, offering a unique layout adaptable to various retail configurations. This property represents a compelling investment prospect in a dynamic and growing market. The minimum divisible space is 850 square feet, making it suitable for smaller businesses, while the larger contiguous spaces cater to businesses requiring more extensive footprints. This prime retail location offers a blend of established infrastructure and significant growth potential.

• CAP approach

  CAP return

  Valuation

  6%

  $12,067,970

  6.5%

  $11,139,664

  7%

  $10,343,974

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,793,950

  Geo Method

  $8,793,950

• Alternative Use

  Use

  Valuation

  Residential

  $9,396,724

  Hospitality

  $8,607,348

  Educational

  $7,161,213

  Medical

  $7,407,498

  Retail

  $11,139,664

Location Insight

City

Lawrence

County

Douglas

State

Kansas

Latitude

38.9433

Longitude

-95.2116

CBSA code

29940

CBSA name

LAWRENCE, KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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