Hawaiian Bros - Lawrence, KS 1501-1503 W 23rd St 2,859 SF Retail Building Lawrence, KS 66046 $4,090,569 ($1,430.77/SF) 6.50% Cap Rate

SHOP Companies is pleased to offer for sale the Hawaiian Bros located at 1501 W 23rd Street in Lawrence, Kansas, structured as a 20-year, absolute NNN corporate sale-leaseback with Hawaiian Bros Inc. This property represents the second Hawaiian Bros restaurant in the system, operating continuously since the brand’s launch year and remaining one of its most successful and established locations. The lease will be executed at closing under a new 20-year absolute NNN structure with 10% rent escalations every five years, including all four 5-year renewal options.
Situated along West 23rd Street, one of Lawrence’s highest-traffic retail corridors, the property benefits from immediate proximity to the University of Kansas, located less than one mile away. The area is home to major national retailers such as Chick-fil-A, Raising Cane’s, QDOBA, Starbucks, Walmart, and Texas Roadhouse, driving consistent daily activity from both students and local residents.
Lawrence, Kansas, serves as a stable and vibrant college town market supported by a steady university population and diverse employment base. The city continues to grow as both an educational and cultural hub, combining strong consumer demand with an expanding regional economy.
As one of the brand’s earliest and highest-performing stores, the Lawrence location remains a cornerstone within the Hawaiian Bros portfolio. The company now operates 65+ units nationwide, with over 250 additional restaurants committed through multi-unit franchise development across more than 50 markets.
This offering presents an opportunity to acquire a corporate-operated, long-term net lease backed by a rapidly expanding national restaurant brand with proven performance in a dynamic university-driven submarket.
In Association with ParaSell, Inc. | A Licensed Kansas Broker #CO00002998