3840 75Th StPrairie Village, KS 66208

For Sale
$4,983,969

KS Medical Office Complex: High NOI, Low Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a portfolio of two medical office buildings totaling 14,134 square feet in Prairie Village, Kansas. Located at 3840 and 3830 West 75th Street, this property boasts a strong 8.02% cap rate and a substantial net operating income (NOI) of $399,618. Currently 100% occupied, the buildings house Physicians' Surgery Center and Mid America Eye Center, both under long-term leases with a weighted average lease term of 6.36 years. The Physicians' Surgery Center, a CMS-accredited facility, includes two operating rooms, a procedure room, and a LASIK suite. Mid America Eye Center offers nine examination rooms, a contact lens room, and a minor procedure room. The property benefits from a strategic location in an affluent suburb of Kansas City, within Johnson County, and enjoys the advantages of a diversified revenue stream from multiple tenants. Built in 1985, this portfolio offers a compelling investment opportunity with a stable tenant base and significant potential for long-term growth. The asking price is $4,983,969. The property is offered as a portfolio or individually. The buildings are situated next to each other, providing convenient access for patients and physicians. The portfolio includes a surgery center, ophthalmic clinic, and an accounting office. The primary tenant, Physicians' Surgery Center, recently signed a new 10-year lease.

Highlights

  • Strong corporate tenant, Vision Integrated Partners (VIP), operates 62 locations, providing strong creditworthiness and stability.
  • Physicians' Surgery Center recently signed a new 10-year lease, demonstrating long-term commitment.
  • The CMS-accredited Physicians' Surgery Center features two operating rooms for efficient patient care.
  • Kansas City MSA boasts steady population growth over 40 years, exceeding 2.2 million residents.
  • Convenient, side-by-side location of Mid America Eye Center and Physicians' Surgery Center improves patient and physician access.
  • Diversified income streams from a surgery center, ophthalmic clinic, and accounting office enhance portfolio stability.

Property Details for 3840 75Th St

Property type
Other office properties, Medical offices
Square Feet
14,134 SF
Year Built
1985
Buildings
2
Units
2

Location Insight

City
Prairie Village
County
Johnson
State
Kansas
Latitude
38.9934965
Longitude
-94.6296583
3840 75Th St, Prairie Village, Kansas

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3840 75Th St
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