1710 Palace Dr Garden City, KS 67846-6268

Property Details for 1710 Palace Dr

Year built

1998

Construction

FRAME

Lot size

2.09 lot acres

Property size

27,936 SF

Property type

Office buildings

APN

273-08-0-40-16-016.00-0

APU

2730804016016000

Description

This fee-simple office building in Garden City, Kansas, offers a compelling investment opportunity. The 27,705 square-foot property, built in 1998, features a single-story, Class B building on a 2.09-acre lot with ample parking. Currently 100% occupied by two tenants, it boasts a strong 7% cap rate and a stabilized NOI of $261,410. The primary tenant, the Kansas Department for Children and Families (AA- Fitch Credit Rating), occupies 76.8% of the space under a 10-year lease (expiring February 27, 2034) with a five-year renewal option. The secondary tenant, Saint Francis Community Services, leases the remaining space with a lease expiring June 30, 2026, and three four-year renewal options, each with a 5% rent increase. Both leases are modified gross, with the primary tenant responsible for a significant portion of property taxes, utilities, and snow removal. The property is strategically located on a main thoroughfare with high visibility and traffic counts, surrounded by retail amenities and near Garden City Community College. The strong tenant base, long-term leases, and prime location make this a highly attractive investment opportunity. The asking price is $3,735,000, representing a price per square foot of $134.81. The property is zoned for commercial use and offers excellent visibility and access. The surrounding area boasts a high average household income and a large daytime population.

Location Insight

City

Garden City

County

Finney

State

Kansas

Longitude

-100.852

Latitude

37.9762

CBSA code

23780

CBSA name

GARDEN CITY, KS MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments