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Park Plaza Shopping Center 2108 W 27th St 73,487 SF 100% Leased Retail Building Lawrence, KS 66047 $6,247,000 ($85.01/SF) 8% Cap Rate



Investment Highlights
- National tenants: Dollar Tree, Sherwin-Williams, McAlister’s Deli, SERC Physical Therapy, Habitat for Humanity ReStore, Mariner Finance, and more
- Located at the signalized intersection of Iowa St & W 27th St with 33,000+ combined VPD
- Sherwin-Williams is the top-performing location in Lawrence and #9 in Kansas*
- Value-add opportunity with ~20% vacancy and NOI growth potential through lease-up
- Dollar Tree ranks #3 in Kansas and within the top 9% nationally*
- Located less than one mile from the University of Kansas, with 31,000+ students
Executive Summary
Blue West Capital is pleased to offer Park Plaza Shopping Center, a 73,487-square-foot retail center in Lawrence, Kansas. Offered at an attractive basis of approximately $85 per square foot, the property presents a compelling value-add opportunity through the lease-up of approximately 20% vacancy and potential future rent growth. The center is anchored by national tenants Dollar Tree, Sherwin-Williams, and McAlister’s Deli, with the Dollar Tree and Sherwin-Williams locations ranking among the top stores in Kansas.*
LOCATION
Park Plaza Shopping Center is strategically located less than one mile from the University of Kansas and positioned at the signalized intersection of Iowa Street and W 27th Street, with combined traffic counts exceeding 33,000 VPD. Iowa Street serves as one of Lawrence’s primary north-south commercial thoroughfares, providing direct connectivity to the University of Kansas, US-40/K-10 and I-70. The property benefits from its position along Lawrence’s primary retail corridor, surrounded by a dense concentration of national retailers and daily traffic generators.
Property Facts
Amenities
- Signage
- Signalized Intersection
- Monument Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Designers
- Services
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Dollar Tree began in 1986 as Only $1.00, building on a Norfolk variety-store heritage that later helped shape the business. The company focuses on discount variety retail, selling consumable, seasonal, and general merchandise such as housewares, food, health and beauty products, toys, party supplies, stationery, and crafts. After the Family Dollar sale, Dollar Tree operates as a focused North American value retailer with a large store network, a national logistics system, and an expanding multi-price assortment and online ordering options.
Habitat for Humanity began in 1976, founded by Millard and Linda Fuller after early work that grew out of Koinonia Farm in Georgia. The organization is a global nonprofit focused on building, repairing, and financing affordable homes for families with limited access to safe housing. Habitat for Humanity also supports advocacy, disaster recovery, and community partnerships that help expand access to decent shelter and strengthen neighborhood stability. Across its network in the United States and around the world, the company combines volunteer labor, homeowner participation, and partner support to carry out housing projects and related housing services. That mix of construction, repair, financing, and advocacy has shaped Habitat for Humanity into a broad housing organization rather than a single-service charity.
Mariner Finance traces a history to 1927 and operates as a consumer lender built around responsible access to credit and personalized service. The company offers personal loans, auto loans, debt consolidation loans, home improvement loans, vacation loans, and wedding loans, with options that include secured and unsecured installment lending. Mariner Finance also supports borrowers through online applications, personalized loan offers, and branch-based service for people seeking fixed-rate repayment terms. The company serves communities across the United States through a network of branches and affiliated lending operations while focusing on individual borrowing needs rather than commercial lending.
McAlister’s Deli is a fast-casual restaurant chain known for its handcrafted sandwiches, fresh salads, giant spuds, and signature sweet tea. Founded in 1989 in Oxford, Mississippi, the brand has grown into a national concept offering dine-in, takeout, delivery, and catering services. McAlister’s menu emphasizes variety, featuring classic deli sandwiches, soups, and lighter options to accommodate diverse dietary preferences. The company also provides family-friendly meals and customizable catering packages for events and business gatherings. McAlister’s Deli operates under the umbrella of Focus Brands, a leading developer of global foodservice brands. The chain is recognized for its casual dining atmosphere and commitment to convenience, with locations across the United States. McAlister’s Deli is privately held and continues to expand its footprint through a combination of company-owned and franchised restaurants.
SERC Physical Therapy began in 1997, when the company opened three clinics in the Kansas City area to provide personalized therapy services. The company focuses on outpatient physical therapy with an active, exercise-based approach supported by manual therapy and home exercise programs. SERC also serves patients through orthopedic protocols and practices and offers rehabilitation services through a patient-centered model. Today, SERC Physical Therapy is part of the Upstream Rehabilitation family of brands, connecting local clinic care with broader rehabilitation resources.
Founded in 1866 by Henry Sherwin and Edward Williams in Cleveland, Sherwin-Williams grew from a paint business into a global company focused on paints, coatings, stains, and related products. The company serves professional, industrial, commercial, and consumer customers through manufacturing, distribution, and retail channels. Its portfolio includes architectural paints, protective and marine coatings, automotive finishes, and wood finishing products. Sherwin-Williams markets products under brands such as Valspar, Krylon, Minwax, Cabot, Dutch Boy, and HGTV HOME by Sherwin-Williams, reflecting a broad presence across multiple coatings and home-improvement verticals.
- Volume Lash & Hair
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| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Designers | Services | - | - | - | - | |
|
Retailer | - | - | - | - | |
|
Services | - | - | - | - | |
|
Finance and Insurance | - | - | - | - | |
|
Accommodation and Food Services | - | $16.00 | Triple Net | Mar 2019 | |
|
Health Care and Social Assistance | - | - | - | - | |
|
Manufacturing | - | - | - | Jun 2024 | |
| Volume Lash & Hair | - | - | - | - | - |
Space Availability
- Space
- Size
- Space Use
- Position
- Available
This 14,148sf space was formerly occupied by Joann Fabrics and would be a great location for a variety of different users. With easy access from Iowa St, this space is an opportunity to be in the retail core of Lawrence.
| Space | Size | Space Use | Position | Available |
| 1st Floor | 14,148 SF | Retail | - | 90 Days |
1st Floor
| Size |
| 14,148 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| 90 Days |
1st Floor
| Size | 14,148 SF |
| Space Use | Retail |
| Position | - |
| Available | 90 Days |
This 14,148sf space was formerly occupied by Joann Fabrics and would be a great location for a variety of different users. With easy access from Iowa St, this space is an opportunity to be in the retail core of Lawrence.
Nearby Major Retailers
Property Taxes
| Parcel Number | 023-111-11-0-40-01-001.00-0 | Improvements Assessment | $939,118 |
| Land Assessment | $613,208 | Total Assessment | $1,552,326 |
Property Taxes
Presented by
Park Plaza Shopping Center | 2108 W 27th St
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