16663 Midland Dr - Medical FOR SALE


Shawnee, KS 66217
$2,015,000 USD
913-680-7359
16663 Midland Dr, Shawnee, KS for Sale
$2,015,000 USD
Medical - FOR SALE
1/6
null | 7.74% Cap Rate

16663 Midland Dr
Shawnee, KS 66217


HIGHLIGHTS

  • 100% Occupancy: Fully leased with two strong tenants in high-growth medical sectors, ensuring stable income
  • Affluent Demographics: Average household income of $123,586 within a 1-mile radius
  • Stable Tenancy: Amsurg, a tenant since 1998, occupies 70% of the GLA | LiveWell, with a fresh lease from January 2025
  • AmSurg is a multibillion-dollar company with a wide national footprint | Ambulatory surgery market is expected to grow at a 6.02% CAGR to 2030.
  • LiveWell's Market: The U.S. home healthcare market and expected to grow at a 7.48% CAGR to 2030
  • Situated in affluent Johnson County, only 1,000 feet from the I-435 exit in Shawnee, Kansas, enhancing accessibility and visibility.

OVERVIEW

Marcus & Millichap proudly presents the Amsurg & LiveWell Medical Office Building, strategically located in affluent Johnson County, just 1,000 feet from the I-435 exit in Shawnee, Kansas. This investment features a 100% occupied, two-tenant, NNN medical office building with strong tenants in rapidly growing medical sectors. The property is nestled within the WestGlen shopping center, which underwent a multi-million-dollar remodel in 2017, enhancing various offices, retail shops, and restaurants with a 25-year operating history. Within a 1-mile radius, the average household income stands at $123,586. Situated on a 0.61-acre plot, the building offers 6,772 square feet of gross leasable area (GLA). Amsurg, occupying 70% of the GLA, has been a tenant since the property's construction in 1998. LiveWell, occupying the remaining 30%, signed a new lease in January 2025. Amsurg is a prominent multibillion-dollar ambulatory surgery company with over 250 locations across the nation. It merged with Envision Healthcare (NYSE: EVHC) in 2016 for nearly $10 billion and was subsequently acquired by KKR (NYSE: KKR) in an all-cash deal in 2018. The U.S. market for ambulatory surgery centers was valued at USD 40.41 billion in 2023, with an anticipated compound annual growth rate (CAGR) of 6.02% from 2024 to 2030. LiveWell specializes in home-based care, providing services like skilled nursing with approximately 500 employees. The U.S. home healthcare market, valued at $142.9 billion in 2022, is set to continue its robust growth with a projected CAGR of 7.48% from 2023 to 2030. Lease terms for the building include a triple-net lease for Amsurg (70% of GLA) and a gross lease for LiveWell (30% of GLA), with the landlord being responsible for the roof and structure maintenance.

FOR SALE DETAILS

PRICE

$2,015,000 USD

PRICE/SF

$291 USD /SF

CAP RATE

7.74%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1997

SPRINKLERS

-

PARKING SPACES

36

LAND DETAILS

LAND ACRES

0.61 AC

LAND SF

26,572 SF

ZONING

PUDOC

APN/PARCEL ID

QP85700000-0011

ASK ABOUT THIS PROPERTY

Daniel GreenamyreMarcus & MillichapMore Info
913-680-7359

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Daniel GreenamyreMarcus & MillichapMore Info
913-680-7359

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.