504 Delaware Street, Leavenworth, KS 66048

Property Description

Income Today. 6,000 SF of Upside Tomorrow. Own a piece of historic downtown Leavenworth with income already in place and room to create significantly more value over time. The approximately 6,000-square-foot main level is fully leased to Plain Janes & Co. Quilt Shop through June 2030, generating $33,600 in annual rent. That income covers the property’s operating expenses and produces positive cash flow, allowing the next owner to benefit from the property today without taking on an immediate redevelopment project. The real upside is upstairs: approximately 6,000 square feet available for future development. A large three-bedroom apartment shell provides a head start, creating the unique possibility of an owner living on-site while collecting commercial rent and improving the remaining space over time. The balance offers flexibility for additional residential, office, event, or other uses subject to required approvals. Develop it now, phase improvements over time, or simply hold it for future value. Built in 1883, the property is a contributing building in the National Register-listed Leavenworth Downtown Historic District. Qualifying improvements may benefit from significant incentives, including Kansas and federal historic rehabilitation tax credits and Leavenworth’s Neighborhood Revitalization property-tax rebate program. A performing downtown asset with income in place, positive cash flow, and an entire second floor of untapped potential.