Skip to main content

Single-Tenant Industrial

1701 Minnesota Ave

1701 Minnesota Ave, Kansas City, KS 66102

Listing Price: $650,000

Cap Rate
7.70%
Gross SF
10,700
Price/Gross SF
$60.75
Lot Size
0.34 acres
Year Built
1930
Rentable SF
10,700

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 1701 Minnesota Avenue in Kansas City, Kansas, leased to Adepto Medical. The subject property consists of approximately 10,700 square feet of flex space and is situated on 0.34 acres of land. The asset features 124’ of frontage along Minnesota Avenue. Major transportation channels are in close proximity to the property, with the onramp to Interstate 635 located just 1.78 miles away and State Road 69 situated 1.18 miles away. With an triple-net lease in place, the tenant is responsible for the building’s real estate taxes, insurance, and CAM. The tenant, Adepto Medical, specializes in the sale, rental, and repair of infusion pumps used to transfer fluids, medication, or nutrients into a patient’s circulatory system. Adepto Medical offers and services 60 makes and models of infusion pumps, and ships nationwide. The property sits adjacent to Central KC KS/Fairfax, a high barrier to entry submarket with 16.1 million square feet of industrial space. For six years straight, the vacancy rate in the submarket has remained below 5.0 percent, concluding 2021 at 4.0 percent. Thanks to strong levels of demand, market rent growth hit 7.4 percent in 2021, representing the highest level on record. With no new industrial projects underway (including flex), rent growth will be unimpeded by new supply for the foreseeable future. Despite record rent growth, the submarket continues to offer a 27.0 percent discount in rent compared to the overall Kansas City industrial market (CoStar). As the overall market continues to boom, the submarket’s proximity to Downtown Kansas City will make it an attractive opportunity for tenants considering relocation or expansion. Metro Kansas City is located in the heartland of America, as it sits close to both the geographic and population centers of the United States, and serves as a major regional commercial, industrial, distribution, and cultural hub. Within a two-day drive, 85 percent of the nation’s population can be reached from Kansas. Kansas City, Kansas, known simply as “KC”, is the third-largest city in the state, the county seat of Wyandotte County, and the third-largest city of the Kansas City metropolitan area. Kansas City is the home to the General Motors Fairfax Assembly Plant, which manufactures the Chevrolet Malibu and the Buick LaCrosse. In addition, Associated Wholesale Grocers and Kansas City Steak Company are based within the city.

Investment Highlights

  • Adjacent to a High Barrier-to-Entry Submarket that has a Market Vacancy of 4.0 Percent
  • There is Currently No New Industrial/Flex Construction Being Built in This Submarket
  • Given the Low Vacancy Rate, Market Rent Has Increased 7.4 Percent Year-Over-Year
  • Located 1.78 Miles from the Ramp to I-635, and 1.18 Miles from State Road 69
  • Triple-Net Lease in Place Minimizing Landlord Responsibilities
  • The Tenant, Adepto Medical, is an Infusion Pump Company Specializing in the Sale, Rental, and Repair of Infusion Pumps
  • Located on Minnesota Avenue with 124' of Frontage

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s) KS: 00241410

    Kansas

Financing By

Single-Tenant Industrial

1701 Minnesota Ave

Listing Price: $650,000

Cap Rate
7.70%
Gross SF
10,700
Price/Gross SF
$60.75
Lot Size
0.34 acres
Year Built
1930
Rentable SF
10,700

Investment Highlights

  • Adjacent to a High Barrier-to-Entry Submarket that has a Market Vacancy of 4.0 Percent
  • There is Currently No New Industrial/Flex Construction Being Built in This Submarket
  • Given the Low Vacancy Rate, Market Rent Has Increased 7.4 Percent Year-Over-Year
  • Located 1.78 Miles from the Ramp to I-635, and 1.18 Miles from State Road 69
  • Triple-Net Lease in Place Minimizing Landlord Responsibilities
  • The Tenant, Adepto Medical, is an Infusion Pump Company Specializing in the Sale, Rental, and Repair of Infusion Pumps
  • Located on Minnesota Avenue with 124' of Frontage

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 1701 Minnesota Avenue in Kansas City, Kansas, leased to Adepto Medical. The subject property consists of approximately 10,700 square feet of flex space and is situated on 0.34 acres of land. The asset features 124’ of frontage along Minnesota Avenue. Major transportation channels are in close proximity to the property, with the onramp to Interstate 635 located just 1.78 miles away and State Road 69 situated 1.18 miles away. With an triple-net lease in place, the tenant is responsible for the building’s real estate taxes, insurance, and CAM. The tenant, Adepto Medical, specializes in the sale, rental, and repair of infusion pumps used to transfer fluids, medication, or nutrients into a patient’s circulatory system. Adepto Medical offers and services 60 makes and models of infusion pumps, and ships nationwide. The property sits adjacent to Central KC KS/Fairfax, a high barrier to entry submarket with 16.1 million square feet of industrial space. For six years straight, the vacancy rate in the submarket has remained below 5.0 percent, concluding 2021 at 4.0 percent. Thanks to strong levels of demand, market rent growth hit 7.4 percent in 2021, representing the highest level on record. With no new industrial projects underway (including flex), rent growth will be unimpeded by new supply for the foreseeable future. Despite record rent growth, the submarket continues to offer a 27.0 percent discount in rent compared to the overall Kansas City industrial market (CoStar). As the overall market continues to boom, the submarket’s proximity to Downtown Kansas City will make it an attractive opportunity for tenants considering relocation or expansion. Metro Kansas City is located in the heartland of America, as it sits close to both the geographic and population centers of the United States, and serves as a major regional commercial, industrial, distribution, and cultural hub. Within a two-day drive, 85 percent of the nation’s population can be reached from Kansas. Kansas City, Kansas, known simply as “KC”, is the third-largest city in the state, the county seat of Wyandotte County, and the third-largest city of the Kansas City metropolitan area. Kansas City is the home to the General Motors Fairfax Assembly Plant, which manufactures the Chevrolet Malibu and the Buick LaCrosse. In addition, Associated Wholesale Grocers and Kansas City Steak Company are based within the city.

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s): KS: 00241410

    Kansas

Financing By

MM Texture Background
MM Textured Background Lower