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#10-24 OverlandPark: Commercial -- Show
Overland Park, KS  66221  (Johnson County)
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5.89 Acre Development Site in Affluent South Overland Park —
 
Property for Auction
Auction Wednesday October 24, 2018

Online Land Auction, ends 12:30 p.m. on Oct. 24.

5.89 Acre Development Site in Affluent South Overland Park, Johnson County, KS; Close to Numerous Class A Shopping, Entertainment Developments, Top Rated Schools & Major Highways; Zoned & Approved, Ideal for Senior Living/Multi-Family.

PRIME DEVELOPMENT LAND AUCTION, 5.89 ACRES +/-, OVERLAND PARK, KANSAS

INVESTMENT HIGHLIGHTS

5.89 Acre +/- Prime Development Site Ideal for Independent Senior Living/Multi-Family
Located In Affluent Overland Park, Johnson County, Kansas Suburb
Close Proximity to Numerous Class A Shopping, Entertainment Developments & Major Highways
Adjacent to New Solera Reserve Villa Community with $500,000 Starting Prices.
Within Top Rated Olathe School District and Close to Blue Valley and Shawnee Mission Districts
Zoned and Approved by City of Overland Park Planning Commission
Located in One of the Best Real Estate Investment Markets in the Country, Johnson County, KS
Low Reserve $200,000 or $.78 Per Sq. Ft. (80% Off Previous List Price!)
1031 Exchanges Welcomed!
TYPE: Residential Medium-High Density

SITE AREA: 5.89 Acres +/- (256,568.4 Sq. Ft.)

MUNICIPALITY: City of Overland Park, Kansas

LOCATION: Quivira Rd. & W. 137th St., Overland Park, KS 66221

ZONING: RP-5 with Approved Preliminary Development Plan

PERMITTED UNITS: 132 Garden Apartment Units

IDEAL USE: Independent Senior Living/Multi-Family

ROAD FRONTAGE: 1240 ft. on Quivira Rd., 960 ft. on W. 137th St.

UTILITIES AVAILABLE: Water, Sewer, Electricity, Gas

OFF SITE IMPROVEMENTS: Curb, Gutter, Sidewalk, Streets, Utilities

SCHOOL DISTRICT: Olathe, Kansas

PARCEL IDíS: NF241334-3004, NF241334-3018

2017 REAL ESTATE TAXES: $7,041.80



INVESTMENT OVERVIEW

This prime development site is well located in the affluent suburb of Overland Park, (Johnson County), Kansas, which is regarded as one of the best real estate investment markets in the country. The site is situated in close proximity to numerous Class A shopping and entertainment developments, recreation and employment opportunities, top rated schools and major highways. With road frontage on both Quivira Rd. and 137th St., the site offers great visibility and is adjacent to Clear Creek Apartments and the New Solera Reserve Villa Community with starting list prices above $400,000. The site has been zoned and approved by the City of Overland Park planning commission for 132 garden apartment units and is ideal for independent senior living or multi-family development.

This investment opportunity is time definite and only available through the auction date. The property was recently listed for sale at a price of $1 million. The sellerís are motivated and will sell the property to the highest online bidder with a low published reserve of $200,000, which is 80% off the previous list price! The online auction ends Wednesday, October 24, 2018 at 12:30 p.m.



SENIOR LIVING HIGHLIGHTS

South Overland Park has proven demand for senior housing, specifically for the independent living sector. Within a 5-mile radius of the site, 24.2% of the population is over the age of 55, has an average 2017 household income of $112,381 and is expected to grow to $126,179 by 2022. Also, within a 5-mile radius, senior living communities are experiencing a 95% average occupancy rate, they have seen growth of 2.8% for the 65+ age group from 2010 to 2017, and are expecting it to increase another 2.3% by 2022. This creates strong demand for senior living communities in the immediate area.


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