Office Medical
Wornall Medical Office Center
373 W 101st Terrace, Kansas City, MO 64114
Listing Price: $6,475,000
Investment Overview
Marcus & Millichap is pleased to present the Wornall Medical Office in Kansas City, MO. The property has a strong history of experienced medical tenants who provide specialized imaging, urgent care, surgical, primary care & lab services to the community. The property is located just over state line, one-quarter mile from the interstate which sees over 75,000 VPD. The 2-story property offers a large parking lot, security gate and solar panels on the roof. The landlord has enjoyed strong historical occupancy, limited expenses and easy to replace rents.
Encompass Medical Group (53% of GLA) is an independent primary care physician group serving the greater Kansas City area. With state-of-the-art imaging (Mammography, Ultrasound, X-rays, Echocardiograms, Bone Density Studies, Low-Dose CT, High Field MRI), Encompass Medical Group has a heavy tenant investment in the building. Kansas City Vascular & General Surgery (15% of GLA) offers specialized vascular and general surgical procedures. Both have multiple locations around the city and both are 20-year tenants. The balance is made up of Novus Medical Group who provides Hospice care and home health services and Preferred Physical Therapy offers a wide range of physical therapy services. The vacancy provides significant upside through new leases adding to the net operating income.
The offering includes a rare, seller-financing opportunity which provides a 10.50% cash-on-cash return to the purchaser. Beginning with a 3.0% interest rate the first year and 4.0% through the remaining term, seller prefers 30-35% down with no pre-pay-penalty. Terms are negotiable.
Wornall Medical Office is located from the state line of Kansas, in what is known as one of the strongest suburban neighborhoods in the country, with the top schools in Kansas City. The 5-mile average household income is $112,338.
Wornall Medical Office Center
Investment Highlights
- Rare Financing Opportunity | 3.75 Percent Interest Rate | Interest Only | Seller Carry |Negotiable Terms | Cash-on-Cash Return approximately 10.50 Percent
- Encompass Medical (20-Year Tenant) Occupies 53.4 Percent of the Gross Leaseable Area | Over 40 Physicians | Seven Locations
- Encompass Medical Has Heavy Tenant Investment with Specialized Imaging Equipment, Urgent Care, Primary Care and Lab Services
- Kansas City Vascular and General Surgery (20-Year Tenant) Occupies 15.3 Percent of the Gross Leaseable Area | Seven Location | Laparoscopic, General, Vascular, Oncologic and Robotic Procedures
- Upside Through Lease-Up of 12.5 Percent of Vacancy | Interstate Exit 1/4 Mile South sees 75,088 Vehicles Per Day
Exclusively Listed By
Broker of Record
Listing Price: $6,475,000
Investment Highlights
- Rare Financing Opportunity | 3.75 Percent Interest Rate | Interest Only | Seller Carry |Negotiable Terms | Cash-on-Cash Return approximately 10.50 Percent
- Encompass Medical (20-Year Tenant) Occupies 53.4 Percent of the Gross Leaseable Area | Over 40 Physicians | Seven Locations
- Encompass Medical Has Heavy Tenant Investment with Specialized Imaging Equipment, Urgent Care, Primary Care and Lab Services
- Kansas City Vascular and General Surgery (20-Year Tenant) Occupies 15.3 Percent of the Gross Leaseable Area | Seven Location | Laparoscopic, General, Vascular, Oncologic and Robotic Procedures
- Upside Through Lease-Up of 12.5 Percent of Vacancy | Interstate Exit 1/4 Mile South sees 75,088 Vehicles Per Day
Investment Overview
Marcus & Millichap is pleased to present the Wornall Medical Office in Kansas City, MO. The property has a strong history of experienced medical tenants who provide specialized imaging, urgent care, surgical, primary care & lab services to the community. The property is located just over state line, one-quarter mile from the interstate which sees over 75,000 VPD. The 2-story property offers a large parking lot, security gate and solar panels on the roof. The landlord has enjoyed strong historical occupancy, limited expenses and easy to replace rents. Encompass Medical Group (53% of GLA) is an independent primary care physician group serving the greater Kansas City area. With state-of-the-art imaging (Mammography, Ultrasound, X-rays, Echocardiograms, Bone Density Studies, Low-Dose CT, High Field MRI), Encompass Medical Group has a heavy tenant investment in the building. Kansas City Vascular & General Surgery (15% of GLA) offers specialized vascular and general surgical procedures. Both have multiple locations around the city and both are 20-year tenants. The balance is made up of Novus Medical Group who provides Hospice care and home health services and Preferred Physical Therapy offers a wide range of physical therapy services. The vacancy provides significant upside through new leases adding to the net operating income. The offering includes a rare, seller-financing opportunity which provides a 10.50% cash-on-cash return to the purchaser. Beginning with a 3.0% interest rate the first year and 4.0% through the remaining term, seller prefers 30-35% down with no pre-pay-penalty. Terms are negotiable. Wornall Medical Office is located from the state line of Kansas, in what is known as one of the strongest suburban neighborhoods in the country, with the top schools in Kansas City. The 5-mile average household income is $112,338.
Exclusively Listed By
Broker of Record
To view property details and documents, sign up for a free MyMMI account.
Explore exclusive listings, access research insights, and set up automated alerts for a personalized experience. Sign up now to elevate your property search.
