115-125 E Park St - Office FOR SALE


Olathe, KS 66061
$1,500,000 USD
816-695-5788
115-125 E Park St, Olathe, KS for Sale
$1,500,000 USD
Office - FOR SALE
1/13
null | 7.51% Cap Rate

115-125 E Park St
Olathe, KS 66061


HIGHLIGHTS

  • Recent 10 YEAR Renewal State of Kansas Attorney's office. Steps from the Johnson County Kansas Courthouse and Adminstratative Offices
  • Located within an Opportunity Zone! Ease of Management

OVERVIEW

PROPERTY IS LOCATED IN OPPORTUNITY ZONE! State of Kansas Public Defenders Office; Tenant since 2009 recently renewed lease for their 9,700 SF Usable Square Foot space, now expiring 6/30/2033. Lease includes 3% Annual Base Rent Increases, beginning July, 2025. 2033 CAP Rate = 8.46%. EASY MANAGEMENT! NOTE: THE PROPERTY CONTAINS 3 UNITS OF A 5 UNIT CONDO BUILDING; SELLER MANAGES THE CONDO ASSOCIATION. (Seller currently self-manages the Condo Association reveiving $6,000 per year mgmt fee; Mgmt Fee Income NOT included in analysis). Tenant's Premises recently upgraded with new flooring and paint. Ample Parking via street and garage parking; no exterior common areas to maintain!

FOR SALE DETAILS

PRICE

$1,500,000 USD

PRICE/SF

$155 USD /SF

CAP RATE

7.51%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1965

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.36 AC

LAND SF

15,682 SF

ZONING

C2

APN/PARCEL ID

DP55930000-0U01,DP55930000-0U02,DP55930000-0U03,DP55930000-0U04,DP55930000-0U05

ASK ABOUT THIS PROPERTY

Dwight MedberyRubenstein Real Estate Co., LCMore Info
816-695-5788

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Dwight MedberyRubenstein Real Estate Co., LCMore Info
816-695-5788

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