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    8001 Shawnee Msn Pkwy Merriam, KS 66202

    Sponsored
    For Sale
    $1,500,000

    Four-building office complex, redevelopment opportunity.

    Property size:
    19,307 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a four-building office complex totaling 19,307 square feet situated on a 1.7-acre lot in Merriam, Kansas. The property, known as Corporate Village Suites, boasts a 93% occupancy rate with 27 units, primarily occupied by short-term tenants, many of whom have "out" clauses facilitating redevelopment. Built in 1976 and renovated in 2015 or later, the complex offers a compelling value-add proposition. The property's zoning is PUG, and it benefits from a prime location east of the $136 million Merriam Grand Station mixed-use development, which includes apartments, retail space, and green spaces. This strategic location provides significant visibility to over 138,000 vehicles daily on Shawnee Mission Parkway and convenient access to Interstate 35. The area is densely populated and affluent, with over 240,000 people within a 5-mile radius and an average household income exceeding $102,125. The property's proximity to the only IKEA in the Kansas City metro area further enhances its appeal. This is a rare chance to acquire a cash-flowing asset with significant redevelopment potential, allowing for a phased approach to maximizing returns. The asking price is $1,500,000, and the lease type is gross with multi-tenancy. The property's APN is 0460641802002001000.

    Property Features for 8001 Shawnee Msn Pkwy

    General Information

    Property type
    Individual retail properties
    Square Feet
    19,307 SF
    Lot Size
    74,052 SF

    Building Details

    Year Built/Renovated
    1976/2015
    Units
    27

    HighLights

    • High‑traffic location with over 138,000 vehicles daily on Shawnee Mission Parkway and convenient I‑35 access.
    • Prime location east of the $136 million Merriam Grand Station mixed‑use development.
    • 93% occupancy with short‑term tenants and majority having "out" clauses for redevelopment.
    • Minutes from the only IKEA in the Kansas City metro area.
    • Located in an affluent area with over 240,000 people within a 5‑mile radius and an average household income exceeding $102,125.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical offices

    Map

    City
    Merriam
    County
    Johnson
    State
    Kansas
    Longitude
    -94.679490171523
    Latitude
    39.014627951024

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    FAQs

    What type of property is this?
    Individual retail property - Four-building office complex, redevelopment opportunity.
    Where is this individual retail property located?
    The property is located at 8001 Shawnee Msn Pkwy Merriam, KS.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: High-traffic location with over 138,000 vehicles daily on Shawnee Mission Parkway and convenient I-35 access.; Prime location east of the $136 million Merriam Grand Station mixed-use development.; 93% occupancy with short-term tenants and majority having "out" clauses for redevelopment.
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    Realmo Value Estimation

    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.

    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.

    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
    8001 Shawnee Msn Pkwy Merriam, KS 66202
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