5805-5809 Merriam Dr Shawnee, KS 66203
- Retail properties
- 7,920 SF
- 0.35 lot acres
Current Use by Public Records
- Retail properties
Property Details for 5805-5809 Merriam Dr
- Year built
- 1970
- Lot size
- 0.35 lot acres
- Property size
- 7,920 SF
- Property type
- Retail properties
- Property subtype
- Office Properties & Spaces
Description
This exceptional 7,920 square foot multi-tenant property, located at 5805-5809 Merriam Drive in Shawnee, Kansas, presents a compelling investment opportunity for owner-users and investors alike. Situated on a 0.35-acre lot in the heart of Merriam's City Center, this single-story building boasts a prime location within a thriving entertainment, retail, and restaurant district at 75th and I-35. Currently configured as a mix of convenience store, auto shop, and flex space, the property offers significant upside potential. The building features 18 parking spaces, and a 12-14 foot ceiling height. The property includes four units, with a current occupancy of 50%, and a lease expiration date of March 31, 2025. The current Net Operating Income (NOI) is $33,000, with a pro-forma NOI of $99,000. Built in 1970, the property has undergone various renovations, most notably HVAC system replacements in 2022 and 2024. The property is zoned C-2 Commercial, allowing for a variety of uses. The asking price is $975,000, representing a price per square foot of $123. This presents a rare chance to acquire a well-located, multi-tenant property with strong potential for increased revenue and appreciation in a high-demand area. The property's proximity to the Merriam Farmers Market, restaurants, and shopping further enhances its desirability.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Shawnee
- County
- Johnson
- State
- Kansas
- Longitude
- -94.694
- Latitude
- 39.0238
