Former Healthcare Facility in
For Sale
Contact for pricing
Pending
18320 S Center Street, Gardner, KS 66030
High-visibility commercial property with expansion potential in growing Kansas City metro.
Property Size9,945 SF
Lot Size4.60 Acres
Days on Market273
Property Features for 18320 S Center Street
General Information
Standard status
Pending
Size
9,945 SF
Class
B
Lot size
4.60 Acres
Property subtype
Office
Zoning
CP-2
Building Details
Year Built
2002
Stories
1
Listing Agency:
Platinum Realty
(913) 314-8774
Listed By:
Carrie Fisher · License #00247839
Source:
Crexi
Added: Nov 11, 2025
Changed: Aug 8
Last Checked: Jul 24 at 12:18PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Platinum Realty
Investment Insights
Based on property information with market context.
This commercial property, formerly a healthcare facility, is situated on 4.6 acres in a rapidly growing community within the Kansas City metro area. The property is located near I-35 and the expanding commercial corridor on Gardner’s south side, offering high visibility at a prominent intersection. The location provides accessibility and exposure suitable for various commercial applications, including potential multi-tenant conversion. The property includes approximately 2 acres of open ground, allowing for future expansion, additional parking, or parcel division. Its location near Logistics Park Kansas City (LPKC), a significant regional employment and distribution center, enhances its appeal. The property is also near expanding residential developments such as Aspen Creek, Fairfield, and Grand Street 55+ Community, which include both single-family and multi-family housing. The building has a size of 9945 square feet. This property is suitable for an owner/user, developer, or investor seeking a property with flexible use and growth potential.
Key Highlights
- Prime location near I‑35 and a rapidly growing commercial corridor.
- High visibility intersection with excellent accessibility and exposure.
- 4.6 acre lot with approximately 2 acres of open ground** for future expansion, parking, or parcel split.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$128,681
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.60%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,573,620
$2.6M
Cap Rate 7%
$1,838,300
$1.8M
Cap Rate 9%
$1,429,789
$1.4M
Market Conditions
NOI Build-Up for 9,945 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$229.1K $23.04/SF
− Vacancy
−$14.7K −$1.47/SF
EGI
$214.5K $21.57/SF
− OpEx
−$85.8K −$8.63/SF
NOI
$128.7K $12.94/SF
Area
Johnson County, KS
Vacancy
6.40%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,573,620
Cap Rate 7%
$1,838,300
Cap Rate 9%
$1,429,789
Alternative Uses
Best Use
Healthcare Medical
$1.84M
$1.61M – $2.14M
NOI $128,681 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.41M
$2.11M – $2.81M
NOI $168,481 @ 7.0% cap · market cap 6.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
339
Businesses Nearby
Explore this area
Business Placement
Demographics for 66030, KS
25,164
Population
9,319
Households
2.7
Avg Household Size
33
Median Age
34%
College-Educated
96%
High-School Grad
46.4 sq mi
ZIP Area
542
Density / Sq Mi
$93,891
Median Household Income
$48,661
Median Earnings
$1,306
Median Rent
$281,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - High-visibility commercial property with expansion potential in growing Kansas City metro.
Where is this medical center located?
The property is located at 18320 S Center Street Gardner, KS.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Prime location near I‑35 and a rapidly growing commercial corridor.; High visibility intersection with excellent accessibility and exposure.; 4.6 acre lot with approximately 2 acres of open ground** for future expansion, parking, or parcel split.
