8001 Shawnee Mission PkwyMerriam, KS 66202

Property Details for 8001 Shawnee Mission Pkwy

Year built

1976

Construction

FRAME

Lot size

1.69 AC

Property size (Sq ft)

4,032 SF

Zone code

PUG

Property type

Office properties

APN

JP2200000A 0001

APU

JP2200000A0001

Description

This exceptional investment opportunity presents a four-building office complex totaling 19,307 square feet situated on a 1.7-acre lot in Merriam, Kansas. The property, known as Corporate Village Suites, boasts a 93% occupancy rate with 27 units, primarily occupied by short-term tenants, many of whom have "out" clauses facilitating redevelopment. Built in 1976 and renovated in 2015 or later, the complex offers a compelling value-add proposition. The property's zoning is PUG, and it benefits from a prime location east of the $136 million Merriam Grand Station mixed-use development, which includes apartments, retail space, and green spaces. This strategic location provides significant visibility to over 138,000 vehicles daily on Shawnee Mission Parkway and convenient access to Interstate 35. The area is densely populated and affluent, with over 240,000 people within a 5-mile radius and an average household income exceeding $102,125. The property's proximity to the only IKEA in the Kansas City metro area further enhances its appeal. This is a rare chance to acquire a cash-flowing asset with significant redevelopment potential, allowing for a phased approach to maximizing returns. The asking price is $1,500,000, and the lease type is gross with multi-tenancy. The property's APN is 0460641802002001000.

• CAP approach

  CAP return

  Valuation

  6%

  $755,790

  6.5%

  $697,652

  7%

  $647,820

• Comparable approach

  Method

  Valuation

  Relative Method

  $288,409

  Geo Method

  $288,409

• Alternative Use

  Use

  Valuation

  Residential

  $865,089

  Hospitality

  $792,417

  Educational

  $659,282

  Medical

  $681,955

  Retail

  $1,025,549

Location Insight

City

Mission

County

Johnson

State

Kansas

Latitude

39.0145

Longitude

-94.6795

CBSA code

28140

CBSA name

KANSAS CITY, MO-KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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