4518 89Th StPrairie Village, KS 66207

For Sale
$1,025,000

100% Occupied, Value-Add Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a fully occupied, two-story office building totaling 5,600 square feet situated on a 0.64-acre lot in the desirable Prairie Village, Kansas, at 4518 W. 89th Street, zip code 66207. The property, built in 1965 and extensively renovated in 2024, boasts a Class B designation and features a mix of creative and traditional office spaces, currently housing six tenants under gross lease agreements. The building enjoys 100% occupancy, generating a strong net operating income (NOI) of $84,118, representing an 8.21% cap rate. The asking price is $1,025,000, translating to $183.04 per square foot. Significant recent upgrades include a brand-new roof. The property benefits from high visibility due to monument signage on 89th Street, easily seen from Roe Boulevard. Its prime location offers convenient access to Meadowbrook Park, Corinth Square Shopping Center, and affluent residential neighborhoods. Ample parking is available with 21 spaces. This presents a rare chance to acquire a stabilized, value-add investment property with potential for future rental rate increases, given the long-term tenancy of several occupants. The property's strong cash flow and strategic location make it an attractive investment prospect.

Highlights

  • Rare Prairie Village, KS investment opportunity.
  • Freestanding 5,600 SF building on a 0.64-acre lot.
  • Fully occupied with long-term tenants.
  • Recently upgraded, including a new roof.
  • Excellent location at 89th & Roe, near affluent neighborhoods.
  • Close proximity to Meadowbrook Park & Corinth Square.

Property Details for 4518 89Th St

Property type
Other office properties, Office space
Square Feet
5,600 SF
Class
B
Year Built/Renovated
1965/2024
Stories
2
Lot Size (sq. ft)
27,878 SF

Location Insight

City
Prairie Village
County
Johnson
State
Kansas
Latitude
38.9677232
Longitude
-94.6386691
4518 89Th St, Prairie Village, Kansas

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4518 89Th St
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