1600 23Rd StLawrence, KS 66046

Property Details for 1600 23Rd St

Year built

1995

Lot size

1.44 AC

Property size (Sq ft)

1,174 SF

Property type

Banks

APN

103-05-0-30-12-009.01-0

APU

1030503012009010

Description

This exceptional commercial land offering in Lawrence, Kansas, presents a unique investment opportunity. Located at 1600 E 23rd St, this property encompasses a sizable area ranging from 0.55 to 1.43 acres, providing ample space for various commercial ventures. The site is strategically positioned along a major thoroughfare, 23rd Street, which is undergoing significant road improvements slated for completion in Fall 2023. Upon completion, this area is projected to see approximately 25,000 vehicles daily, ensuring high visibility and accessibility for any business established here. The property is divided into two distinct lots. Lot 1 features the footprint of a former drive-thru bank building, offering potential for redevelopment or repurposing. Lot 2 presents a raw land pad, ideal for new construction tailored to specific business needs. This prime location in Douglas County, Kansas, zip code 66046, offers unparalleled potential for growth and return on investment, making it an attractive proposition for developers and entrepreneurs alike. The property's coordinates are 38.943184 latitude and -95.2150572 longitude.

• CAP approach

  CAP return

  Valuation

  6%

  $290,407

  6.5%

  $268,068

  7%

  $248,920

• Comparable approach

  Method

  Valuation

  Relative Method

  $211,620

  Geo Method

  $211,620

• Alternative Use

  Use

  Valuation

  Residential

  $226,125

  Hospitality

  $207,130

  Educational

  $172,329

  Medical

  $178,256

  Retail

  $268,068

Location Insight

City

Lawrence

County

Douglas

State

Kansas

Latitude

38.9431

Longitude

-95.2148

CBSA code

29940

CBSA name

LAWRENCE, KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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