13420 98Th StLenexa, KS 66215

Property Details for 13420 98Th St

Year built

1999

Lot size

1.04 AC

Property size (Sq ft)

9,000 SF

Property type

Office properties

APN

IF241303-1046

APU

IF2413031046

Description

This exceptional 8,708 square foot creative office building in Lenexa, Kansas, presents a compelling owner-user opportunity. Located at 13420 W 98th St, this single-story, Class B building, constructed in 1999, sits on a 2.11-acre lot and is zoned BP1. Currently boasting 100% occupancy with a strong tenant occupying 5,056 square feet under lease until February 1st, 2025, 3,652 square feet are available for an owner-occupier or for lease. Recent improvements include a new roof, updated landscaping, and a fresh tenant finish in the available space. The parking lot was seal coated and restriped in Spring 2020. The asking price for this multi-tenant property is $1,470,000, translating to $168.81 per square foot. This prime location on the west end of the College Boulevard corridor offers excellent access to numerous amenities, making it an ideal investment for a business seeking both space and a strong return. The property's strong tenant base and recent upgrades ensure a seamless transition for the new owner.

• CAP approach

  CAP return

  Valuation

  6%

  $1,838,653

  6.5%

  $1,697,218

  7%

  $1,575,988

• Comparable approach

  Method

  Valuation

  Relative Method

  $643,770

  Geo Method

  $643,770

• Alternative Use

  Use

  Valuation

  Residential

  $2,104,550

  Hospitality

  $1,927,757

  Educational

  $1,603,871

  Medical

  $1,659,031

  Retail

  $2,494,910

Location Insight

City

Lenexa

County

Johnson

State

Kansas

Latitude

38.9516

Longitude

-94.7416

CBSA code

28140

CBSA name

KANSAS CITY, MO-KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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