1100 N 4th St - Medical FOR SALE


Leavenworth, KS 66048
$2,245,632 USD
248-688-0631
1100 N 4th St, Leavenworth, KS for Sale
$2,245,632 USD
Medical - FOR SALE
1/8
null | 7.75% Cap Rate

1100 N 4th St
Leavenworth, KS 66048


OVERVIEW

SRS Real Estate Partners, LLC in collaboration with Goldman Investment Advisors, Inc. is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a two-tenant net leased, freestanding, corporate guaranteed, NextCare and Booz Allen Hamilton investment property located in Leavenworth, Kansas (Kansas City MSA). Both tenants have a weighted average lease term of 3.2 years remaining and feature additional option periods to extend. Both leases feature rare annual rental increases throughout the initial term and option periods, steadily growing NOI and hedging against inflation. The leases are corporate guaranteed, and net leased with tenants reimbursing CAM, taxes, and insurance, limiting expense leakage for a new investor. NextCare is one of the largest providers of urgent care in the nation, currently operating 170+ facilities in 12 states. Founded in 1914, Booz Allen Hamilton (S&P: BBB-) provides consulting, analysis, and engineering services to clients across the globe in both the public and private sectors. The building was previously occupied by a regional credit union and has been redeveloped and modernized with a new facade and demised into two entrances, one for each tenant. The tenants originally had a combined $600k+ into their respective buildouts, demonstrating their commitment to the site. The subject property is strategically located at the signalized, hard corner intersection of N. 4th Street and Metropolitan Avenue, averaging 28,600 combined vehicles passing by daily. The site is equipped with two pylon signs, providing excellent store visibility along both cross-streets. The asset benefits from nearby access to Centennial Bridge, a 2,500 ft. long arch bridge spanning over the Missouri River and one of the primary routes for commuters traveling to and from Kansas City. Furthermore, there is very limited competition in the surrounding 5-mile area, with NextCare being one of only three urgent care facilities for the city of Leavenworth. Additionally, the site is directly across from Fort Leavenworth, a 107-acre United States Army installation containing 1,000 buildings and over 14,100 personnel. Fort Leavenworth is the oldest active military reservation west of the Mississippi River and is historically known as the “Intellectual Center of the Army”. As of September 2022, Fort Leavenworth had an annual budget of nearly $6.9 billion and had a total economic impact of over $19.08 billion. Moreover, the subject property is within walking distance to Santa Fe Trail Apartments (48 units) and The Station Lofts at the Riverfront (148 units), providing a direct consumer base from which to draw. The 5-mile trade area is supported by more than 42,100 residents and 18,300 daytime employees with an average household income of $88,944.

FOR SALE DETAILS

PRICE

$2,245,632 USD

PRICE/SF

$307 USD /SF

CAP RATE

7.75%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2002

SPRINKLERS

-

PARKING SPACES

86

LAND DETAILS

LAND ACRES

1.23 AC

LAND SF

53,579 SF

ZONING

PUD

APN/PARCEL ID

077-25-0-20-04-002.00-0

ASK ABOUT THIS PROPERTY

Frank RogersSRS Real Estate PartnersMore Info
248-688-0631

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Frank RogersSRS Real Estate PartnersMore Info
248-688-0631

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.