115 Park St Olathe, KS 66061

This stabilized Class B office building in Olathe, Kansas, presents a compelling investment opportunity. The property, located at 115 E Park St, 66061, features 9,700 square feet across three units within a single, one-story building. Currently leased to the State of Kansas in a gross lease agreement with a remaining term of 8.6 years (expiring June 30, 2033), this investment boasts a 7.04% cap rate and a strong NOI of $112,590. The lease includes annual rent bumps of 3%, further enhancing the return. The property underwent renovations in 2023 and benefits from its location within an Opportunity Zone, steps from the Johnson County Courthouse and other government offices. The convenient location offers free public parking and walkable amenities. The long-term lease with a stable government tenant minimizes vacancy risk, making this a low-maintenance, high-yield investment. The asking price is $1,600,000, translating to $164.95 per square foot. The absence of exterior common areas to maintain allows for potential annual management fee savings of $6,000, increasing overall yield. This property is an excellent 1031 exchange opportunity.