8900 State Line Rd - Medical FOR SALE


Leawood, KS 66206
$7,275,000 USD
816-556-1148
8900 State Line Rd, Leawood, KS for Sale
$7,275,000 USD
Medical - FOR SALE
1/14
null | Request Cap Rate

8900 State Line Rd
Leawood, KS 66206


HIGHLIGHTS

  • Located in one of Kansas City’s most sought-after submarkets with strong demographics and accessibility.
  • Development potential for additional multifamily or commercial space on-site.
  • Proximity to Ward Parkway Mall and numerous retail and dining amenities.
  • Recent renovations include updated common areas and tenant spaces since 2019.

OVERVIEW

8900 State Line Road offers an exceptional investment opportunity in the highly desirable South Kansas City submarket. This 84,962-square-foot medical office building is situated on 5.40 acres along State Line Road, a major corridor providing excellent connectivity to Interstate 435 and the broader Kansas City metro. The property is currently 81.53% occupied by 30 tenants, anchored by Psychiatry Associates of Kansas City, which occupies 23.58% of the building. The asset presents significant value-add potential with 15,696 square feet of vacancy available for lease at market rents. Recent capital improvements include updated common areas, new flooring, paint, and a conference room, along with 61% of tenant spaces renovated since 2019. The property features 340 parking spaces (97 covered), a 4.0 per 1,000 SF parking ratio, and two elevators serving five floors. Investors will benefit from a stabilized cap rate of 9.93% and in-place NOI of $524,065, with upside through lease-up and rent growth. Additionally, the southern portion of the parking lot offers a development opportunity for a 44-unit multifamily project or additional commercial space without reducing existing parking.

FOR SALE DETAILS

PRICE

$7,275,000 USD

PRICE/SF

$86 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

5

BUILDING CLASS

B

YEAR BUILT

1972

SPRINKLERS

-

PARKING SPACES

340

LAND DETAILS

LAND ACRES

5.4 AC

LAND SF

235,224 SF

ZONING

CPO

APN/PARCEL ID

HF251235-1022

ASK ABOUT THIS PROPERTY

Mike YeggyPeak Real Estate PartnersMore Info
816-556-1148

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Mike YeggyPeak Real Estate PartnersMore Info
816-556-1148

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