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Shopping Strip

Shops of West Lawrence | Sprouts Anchored

4801 Bauer Farm Dr, Lawrence, KS 66049

Listing Price: $4,100,000

Cap Rate
5.73%
Gross SF
9,800
Rentable SF
9,800
Price/Gross SF
$418.37
Lot Size
1.05 acres
Year Built
2010

Investment Overview

Marcus & Millichap is pleased to present the Shops of West Lawrence located at 4801 W. Bauer Farm Drive in Lawrence, Kansas. The Shops of West Lawrence was constructed in 2010 on a 1.05-acre lot at the northwest corner of 6th St. & Wakarusa Dr. which see's approx. 48,000 vehicles per day. The intersection of 6th St. & Wakarusa Dr. is anchored by the long standing Dillon's (Kroger), as well as Walmart, Sprouts, PetSmart, CVS, high-end apartments, national restaurants, shopping, entertainment, and Free State High School with 1,800 students. Additionally, the Shops of West Lawrence is just 1-mile from the $22 million Rock Chalk Park/Sports Pavilion and the new $100 million LMH Health West Campus. Also, the property is just three-miles from University of Kansas with nine of its Graduate programs in the top 10, KUMed in the top 10, and is considered one of the most prestigious college basketball programs in the country with six overall national championships including the 2022 NCAA Division I Men's Basketball Championship. The Shops of West Lawrence is a 100 percent occupied 6-tenant strip center with 9,800 SF of rentable space. All tenants are original with the exception of the new Jersey Mike’s on the end-cap (summer '22, 10-yr lease). T-Mobile is a 796 unit operator and Great Clips just signed a new 10-year lease with rental increases. All leases are NNN with full recovery for all expenses, including management. Landlord is responsible for roof and structure. The average household income is $117,307 in a one-mile radius and 64 percent of Population has Bachelor’s Degree or Higher.

Investment Highlights

  • 100 Percent Occupied Six-Tenant Strip Featuring Airtight NNN Leases with Rental Increases, Expense Recovery & Tenant Guarantees | 80 Percent Original Tenants with Strong Sales & Nationwide Branding.
  • Extremely Strong Location Anchored by Walmart, Kroger & Sprouts | Affluent Demographics of $117,307 Avg. HHI within One-Mile | 64 Percent of Population has Bachelor's Degree or Higher.
  • Booming Lawrence Market - Ranked 1st in 12-Month Employment Growth at 5.3 Percent by Mid-America Regional Council. | Fastest Growing Population in Kansas (since 2010) | County Seat with "AAA" Rating.
  • College Town for the University of Kansas. K.U. is a 1,000 Acre, 28,000 Student, Division-1 University with Nine of its Graduate Programs in the Top 10 and the 2022 NCAA Division I Men's Basketball Champions
  • Walking Distance from Free State High School with 1,793 Students ("A" ranking by Niche.com) | One Mile from the New $100 Million Lawrence Memorial Hospital (LMH) & the Rock Chalk Park Sports Pavilion, a $22.5 Million Public/Private Partnership w/ 181,000 Square-Foot Facility for KU Athletics & Youth Sports
  • Costar Analytics: One Mile Radius has a 1.9 Percent Retail Vacancy Rate and Rents in the Submarket Grew by 3.7 Percent Over the Past 12 Months.

Exclusively Listed By

Shopping Strip

Shops of West Lawrence | Sprouts Anchored

Listing Price: $4,100,000

Cap Rate
5.73%
Gross SF
9,800
Rentable SF
9,800
Price/Gross SF
$418.37
Lot Size
1.05 acres
Year Built
2010

Investment Highlights

  • 100 Percent Occupied Six-Tenant Strip Featuring Airtight NNN Leases with Rental Increases, Expense Recovery & Tenant Guarantees | 80 Percent Original Tenants with Strong Sales & Nationwide Branding.
  • Extremely Strong Location Anchored by Walmart, Kroger & Sprouts | Affluent Demographics of $117,307 Avg. HHI within One-Mile | 64 Percent of Population has Bachelor's Degree or Higher.
  • Booming Lawrence Market - Ranked 1st in 12-Month Employment Growth at 5.3 Percent by Mid-America Regional Council. | Fastest Growing Population in Kansas (since 2010) | County Seat with "AAA" Rating.
  • College Town for the University of Kansas. K.U. is a 1,000 Acre, 28,000 Student, Division-1 University with Nine of its Graduate Programs in the Top 10 and the 2022 NCAA Division I Men's Basketball Champions
  • Walking Distance from Free State High School with 1,793 Students ("A" ranking by Niche.com) | One Mile from the New $100 Million Lawrence Memorial Hospital (LMH) & the Rock Chalk Park Sports Pavilion, a $22.5 Million Public/Private Partnership w/ 181,000 Square-Foot Facility for KU Athletics & Youth Sports
  • Costar Analytics: One Mile Radius has a 1.9 Percent Retail Vacancy Rate and Rents in the Submarket Grew by 3.7 Percent Over the Past 12 Months.

Investment Overview

Marcus & Millichap is pleased to present the Shops of West Lawrence located at 4801 W. Bauer Farm Drive in Lawrence, Kansas. The Shops of West Lawrence was constructed in 2010 on a 1.05-acre lot at the northwest corner of 6th St. & Wakarusa Dr. which see's approx. 48,000 vehicles per day. The intersection of 6th St. & Wakarusa Dr. is anchored by the long standing Dillon's (Kroger), as well as Walmart, Sprouts, PetSmart, CVS, high-end apartments, national restaurants, shopping, entertainment, and Free State High School with 1,800 students. Additionally, the Shops of West Lawrence is just 1-mile from the $22 million Rock Chalk Park/Sports Pavilion and the new $100 million LMH Health West Campus. Also, the property is just three-miles from University of Kansas with nine of its Graduate programs in the top 10, KUMed in the top 10, and is considered one of the most prestigious college basketball programs in the country with six overall national championships including the 2022 NCAA Division I Men's Basketball Championship. The Shops of West Lawrence is a 100 percent occupied 6-tenant strip center with 9,800 SF of rentable space. All tenants are original with the exception of the new Jersey Mike’s on the end-cap (summer '22, 10-yr lease). T-Mobile is a 796 unit operator and Great Clips just signed a new 10-year lease with rental increases. All leases are NNN with full recovery for all expenses, including management. Landlord is responsible for roof and structure. The average household income is $117,307 in a one-mile radius and 64 percent of Population has Bachelor’s Degree or Higher.

Exclusively Listed By

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