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2500 W 31st St - Unit H 2500 W 31st
5,976 SF Office/Retail Condo Unit Offered at $550,000 in Lawrence, KS 66047
Investment Highlights
- High Commercial Activity Area
- Potential for High Return
- Located on Major Arterial
Executive Summary
Unit H at Long Island Business Center represents more than just a commercial space; it's a gateway to success and prosperity in Lawrence's vibrant business landscape. Don't miss out on this rare opportunity to secure your foothold in one of the city's most sought-after locations. Schedule a viewing today and unlock the potential of Unit H for your business or investment portfolio. Current Income: The lower level is currently leased below market value at $3,500 per month, offering a cap rate of 3.7%. Upside Potential: With the upper level easily commanding a rental rate of $2,250 per month, the potential cap rate increases substantially to an impressive 8.6%. This presents an attractive opportunity for investors seeking to maximize returns. Located within the thriving Long Island Business Center in Lawrence, Kansas, Unit H presents an exceptional opportunity for business owners and investors alike. Situated strategically within a bustling commercial hub, this two-story office or commercial retail space boasts unparalleled visibility and accessibility. Property Details: Size: Spanning an impressive 5,976 square feet, Unit H offers ample space to accommodate a wide range of business operations. Layout: With 3,576 square feet on the lower level and an additional 2,400 square feet on the upper level, this versatile space can be tailored to suit various business needs. Longevity: Being part of an optimally located 8-unit building that has been a cornerstone of the local business community since 1991 speaks volumes about the stability and desirability of the location. Features & Benefits: Versatility: Whether you're looking to establish a flagship retail store, a bustling office headquarters, or a vibrant coworking space, Unit H offers the flexibility to realize your vision. Established Community: Join a thriving community of local businesses that have called Long Island Business Center home for decades. Benefit from the synergy of neighboring businesses and the continuous foot traffic generated by loyal patrons. Association Dues: Enjoy peace of mind with association dues covering essential services such as water, trash disposal, exterior maintenance, and building insurance. This ensures hassle-free ownership and preserves the pristine condition of the property. Leasing Opportunities: Take advantage of the current lease in place for the lower level, providing immediate rental income. Additionally, with the upper level currently vacant, there's tremendous potential to lease it out at a competitive market rate, substantially increasing the overall return on investment.
Property Facts
1 Unit Available
Unit H
| Unit Size | 5,976 SF | Sale Type | Investment or Owner User |
| Price | $550,000 | Cap Rate | 8.60% |
| Price Per SF | $92.03 | NOI | $47,300 |
| Condo Use | Office/Retail |
| Unit Size | 5,976 SF |
| Price | $550,000 |
| Price Per SF | $92.03 |
| Condo Use | Office/Retail |
| Sale Type | Investment or Owner User |
| Cap Rate | 8.60% |
| NOI | $47,300 |
Description
Size: Spanning an impressive 5,976 square feet, Unit H offers ample space to accommodate a wide range of business operations.
Layout: With 3,576 square feet on the lower level and an additional 2,400 square feet on the upper level, this versatile space can be tailored to suit various business needs.
Longevity: Being part of an optimally located 8-unit building that has been a cornerstone of the local business community since 1991 speaks volumes about the stability and desirability of the location.
Features & Benefits:
Versatility: Whether you're looking to establish a flagship retail store, a bustling office headquarters, or a vibrant coworking space, Unit H offers the flexibility to realize your vision.
Established Community: Join a thriving community of local businesses that have called Long Island Business Center home for decades. Benefit from the synergy of neighboring businesses and the continuous foot traffic generated by loyal patrons.
Association Dues: Enjoy peace of mind with association dues covering essential services such as water, trash disposal, exterior maintenance, and building insurance. This ensures hassle-free ownership and preserves the pristine condition of the property.
Leasing Opportunities: Take advantage of the current lease in place for the lower level, providing immediate rental income. Additionally, with the upper level currently vacant, there's tremendous potential to lease it out at a competitive market rate, substantially increasing the overall return on investment.
Investment Potential:
Current Income: The lower level is currently leased below market value at $3,500 per month, offering a cap rate of 3.7%.
Upside Potential: With the upper level easily commanding a rental rate of $2,250 per month, the potential cap rate increases substantially to an impressive 8.6%. This presents an attractive opportunity for investors seeking to maximize returns.
Conclusion:
Unit H at Long Island Business Center represents more than just a commercial space; it's a gateway to success and prosperity in Lawrence's vibrant business landscape. Don't miss out on this rare opportunity to secure your foothold in one of the city's most sought-after locations. Schedule a viewing today and unlock the potential of Unit H for your business or investment portfolio.
Sale Notes
Current Income: The lower level is currently leased below market value at $3,500 per month, offering a cap rate of 3.7%.
Upside Potential: With the upper level easily commanding a rental rate of $2,250 per month, the potential cap rate increases substantially to an impressive 8.6%. This presents an attractive opportunity for investors seeking to maximize returns.
Amenities
- Air Conditioning
zoning
| Zoning Code | CS (Office/Retail) |
| CS (Office/Retail) |
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2500 W 31st St - Unit H 2500 W 31st
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