8-10 W 8th St
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8-10 W 8th St
2,952 SF Retail Building Lawrence, KS 66044 $1,640,000 ($556/SF) 7.36% Cap Rate
Investment Highlights
- Noodles & Company just exercised a 5-year extension with zero landlord requests.
- With a cap rate of 7.35%, this investment offers a stable and attractive income stream.
- Noodles & Company has operated at this location for over 15 years showing a dedication to this location.
- The property is strategically situated in a prime “ground zero” location in downtown Lawrence and near the University of Kansas campus
- Noodles & Company takes care of the majority of maintenance, making this investment hassle-free for landlords.
- 5 mile population exceeds 95,000, 5 mile median household income exceeds $63,000, and 1 mile median home value exceeds $308,000.
Executive Summary
NAI Heartland is pleased to present a NNN leased retail investment opportunity. 8 W 8th Street in Lawrence, Kansas is a 2,952 SF retail building leased to Noodles & Company. Noodles & Company is dedicated to this location operating here for over 15 years. Plus, they just exercised their first lease option extending their term for 5 more years with zero landlord requests.
In addition to the long-term national tenant, this investment opportunity also benefits from a prime “ground zero” location on 8th Street and Massachusetts Street in downtown Lawrence. The area is a top destination in the region with historic walkable landscapes, one-of-a-kind mix of shopping, dining, and entertainment, coupled with hosting an abundance of spectacular community events and located at the doorstep of the University of Kansas.
In addition to the long-term national tenant, this investment opportunity also benefits from a prime “ground zero” location on 8th Street and Massachusetts Street in downtown Lawrence. The area is a top destination in the region with historic walkable landscapes, one-of-a-kind mix of shopping, dining, and entertainment, coupled with hosting an abundance of spectacular community events and located at the doorstep of the University of Kansas.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
2,952 SF
Building Class
B
Year Built/Renovated
1984/2008
Price
$1,640,000
Price Per SF
$556
Cap Rate
7.36%
NOI
$120,725
Tenancy
Single
Building Height
1 Story
Building FAR
0.97
Lot Size
0.07 AC
Zoning
C-3
Parking
15 Spaces (5.08 Spaces per 1,000 SF Leased)
Frontage
Walk Score®
Walker's Paradise (95)
Bike Score®
Biker's Paradise (94)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $187,763 | |
| Land Assessment | $121,388 | Total Assessment | $309,151 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$121,388
Improvements Assessment
$187,763
Total Assessment
$309,151
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8-10 W 8th St
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