Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    23401 Prairie Star Pkwy Lenexa, KS 66227

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $20 SF/Yr

    Medical office space for lease on AdventHealth Lenexa campus.

    Property size:
    19,482 SF
    Lot size:
    11.82 Acres

    Property Features for 23401 Prairie Star Pkwy

    General Information

    Size
    19,482 SF
    Lot size
    11.82 Acres

    We can help!

    Listing Contact
    Welltower Leasing
    Source: Moodyscre

    Listing Agent: Welltower Leasing

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Medical Office Space For Lease

    Located on the AdventHealth Lenexa campus, this property offers convenient access to K-7 and K-10 highways. Situated in the high-growth west Johnson County suburbs, the building features a pharmacy on the first floor and a coffee shop in an adjacent building next to the emergency room. The property includes an underground parking garage and on-site hospital security services. The property is suitable for medical offices and general office use. The available space is 19,482 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Dental Office Hotel & Motel Gym & Fitness Pharmacy Skin Care Clinic Garden Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lenexa
    County
    Johnson
    State
    Kansas
    Longitude
    -94.8571623
    Latitude
    38.9550902

    Nearby Similar for Lease

    • Contact for pricing
      78,844 SF

      Lenexa Retail/Office Space Available

      1,400 SF retail/office space in Lenexa, Kansas.
      12104 87Th Street Pkwy, Lenexa, KS 66215
      View Details
    • Contact for pricing
      78,844 SF

      Lenexa Office Space Available

      1,400 SF office space with private offices and conference room.
      12010 87Th Street Pkwy, Lenexa, KS 66215
      View Details
    • Contact for pricing
      22,581 SF

      Lenexa Flex Space Available

      Flex space with excellent freeway access and high parking ratios.
      10846-10890 Strang Line Rd, Lenexa, KS 66215
      View Details
    • $4,285,000
      15,000 SF

      Truck Service Maintenance Facility

      15,000 SF truck service facility with drive-through bays.
      23810 W 83 Ter, Lenexa, KS
      View Details
    • Contact for pricing
      3,600 SF

      Lenexa Retail Space with Drive-Thru

      Freestanding retail buildings with drive-thru, near K-10 and Ridgeview.
      18259 W 101 St, Lenexa, KS
      View Details
    • $3 SF/Yr
      5,495 SF

      Lenexa, KS Office Space Available

      Flexible Offices, Coworking & More
      12345 95Th Ln, Lenexa, KS 66215
      View Details
    • Contact for pricing
      65,900 SF

      College Crossing Business Park Space

      Johnson County flex space for lease. Multiple suites available.
      10902-10918 Strang Line Rd, Lenexa, KS 66215
      View Details
    • $30 SF/Yr
      4,500 SF

      Premier Community Shopping Center Space

      Located in a dominant retail corridor with superb demographics.
      9510-9596 Quivira Rd, Lenexa, KS 66215
      View Details
    • $30 SF/Yr
      1,042 SF

      Lenexa Retail Space For Rent

      Retail space available in a premier Kansas City shopping center.
      9660-9676 Quivira Rd, Lenexa, KS 66215
      View Details
    • Contact for pricing
      354,055 SF

      Lenexa Warehouse with Cross-Docking

      565,170 SF cross-dock facility with highway access.
      17201 W 113 St, Lenexa, KS
      View Details
    • $24 SF/Yr
      3,082 SF

      Lenexa Office Space for Lease

      Class A office space in Lenexa City Center neighborhood.
      9401 Renner Blvd, Lenexa, KS
      View Details
    • Contact for pricing
      150,000 SF

      Lenexa Warehouse Distribution Facility

      606,580 SF bulk cross-dock facility with highway access.
      16000-16200 W 116 St, Lenexa, KS
      View Details

    FAQs

    What type of property is this?
    Medical office - Medical office space for lease on AdventHealth Lenexa campus.
    Where is this medical office located?
    The property is located at 23401 Prairie Star Pkwy Lenexa, KS.
    What is the lease rate?
    The lease rate is $20 SF/Yr.
    What are key features of this property?
    This property features: - Located on the AdventHealth Lenexa Campus; - Excellent access to K-7 and K-10 highways; - Located in the high-growth west Johnson County suburbs
    (800) 793-9289
    Request Owner's contact information
    23401 Prairie Star Pkwy Lenexa, KS 66227
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    23401 Prairie Star Pkwy
    Lenexa, KS 66227
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    23401 Prairie Star Pkwy Lenexa, KS 66227
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Welltower Leasing
    (800) 793-9289
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.