Murlen Plaza Retail FOR SALE


Olathe, KS
$6,490,000 USD
720-738-0037
, Olathe, KS for Sale
$6,490,000 USD
Retail - FOR SALE
1/9
null | 7.5% Cap Rate

Murlen Plaza
Olathe, KS


HIGHLIGHTS

  • 96% occupied neighborhood center in the Kansas City MSA
  • All tenants on triple-net (NNN) leases, with below-market rents and annual rent escalations
  • CVS (drive-thru) ranks as the #4 location in Kansas and pays below-market rent (Placer.ai)
  • Affluent suburban area with $141,416 average household income within one mile.
  • Long-term tenancy: ~52% of tenants have occupied the center for 20+ years
  • Located in Johnson County, the most affluent and desirable county in Kansas

OVERVIEW

Blue West Capital is pleased to present the opportunity to acquire Murlen Plaza, a 37,297-square-foot neighborhood retail center at the high-traffic intersection of W 151st Street and S Mur-Len Road in Olathe, Kansas. With visibility to approximately 40,000 vehicles per day, the property stands as a well-trafficked retail destination. Murlen Plaza features a strong and diverse tenant mix anchored by CVS Pharmacy (drive-thru), alongside established tenants including The Peanut, Murlen Animal Clinic, and Dental Care of Olathe. The center is 96% leased to 11 tenants, with below-market average rent of $13.01 per square foot. The offering provides immediate, stable cash flow and future upside via the CVS ground lease. The center draws over 614,000 visits annually, with consistent growth of +9.3% year-over-year, +10.2% over two years, and +15.4% over three years*—highlighting its strength within the trade area. Located in Olathe, part of the Kansas City Metro, and is the fourth-largest city in Kansas with over 147,000 residents. As the county seat of Johnson County—the most affluent in the state—it offers strong demographics, solid economic fundamentals, and excellent highway access.

ASK ABOUT THIS PROPERTY

Bryce McNeelyBlue West Capital, LLC.More Info
720-738-0037

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Bryce McNeelyBlue West Capital, LLC.More Info
720-738-0037

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