16663 Midland Dr - Medical FOR SALE


Shawnee, KS 66217
$1,938,813 USD
913-680-7359
16663 Midland Dr, Shawnee, KS for Sale
$1,938,813 USD
Medical - FOR SALE
1/6
null | 8% 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 Market Position: Now backed by Ascension Health’s $3.9B acquisition, operates 300+ ASCs nationwide projected to grow 6.02% CAGR through 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 Ascension Medical / AMSURG Surgery & LiveWell Homecare Medical Office Building, strategically located in affluent Johnson County, Kansas. This investment features a 100% occupied, two-tenant, majority NNN medical office building with strong tenants in rapidly growing medical sectors. The property is nestled within the WestGlen shopping center along the city lines of the Shawnee/Lenexa corridor of Johnson County, Kansas which exemplifies the county's reputation as the wealthiest in the state. Johnson County residents produce an average household income of $142,699, placing it firmly at the top in Kansas. Just 1.5 miles from the subject property, the Lenexa City Center, a 69-acre, $250 million mixed-use development, has become a centerpiece of recent innovation, enhancing residential and commercial valuations. 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 was acquired by Ascension in June 2025 for $3.9 billion, integrating its ambulatory surgery centers into Ascension's expansive healthcare network. 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

$1,938,813 USD

PRICE/SF

$280 USD /SF

CAP RATE

8%

% 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 Notice.