8700-8706 Bourgade St Bureau 1 248 m² 100 % Loué À vendre Lenexa, KS 66219 3 235 762 € (2 593,41 €/m²)

Cushman & Wakefield, as the exclusive advisor, is pleased to present to qualified investors the opportunity to acquire the fee simple interest in 8700 Bourgade (the “property”). This suburban single story medical office building is comprised of 13,430 rentable square feet situated on a 1.62-acre site. The zoning is described as Planned Neighborhood Office (NPO). Each tenant enjoys drive-up convenience in a surface parking lot with 61 parking spaces near all tenant suite entrances. Originally built in 1988, the current ownership purchased the building in 2021 as an owner-user investment with a strategic plan and vision to transform the property into a dental/medical office building. The building has been successfully converted from a three tenant and co-working operation into a 100% occupied, four tenant property. The landlord’s capital investment exceeds over $1.1 million in tenant improvements exclusive of tenant contributions during the last 24 months. This tenant base now includes 3 dental specialties: Pediatric Dentistry, Periodontics and Orthodontics. Representing approximately 89% of the building’s occupancy, these tenants signed 10-year leases in 2024-2025 with multiple renewal options. As reflected in the 2026 budgeted revenue and operating expenses, the NOI for 2026 is approximately $17.42 per rentable square foot. Each lease includes annual escalations in base rent achieving an NOI in 5 years of $20.55 per rentable square foot or an 18.25% increase during this time. Further, the leases include a Base Year for operating expenses with tenants paying any escalations over the designated base year.