8700 Bourgade St, Lenexa, KS 66219 For Sale

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.

The property is offered at $3,750,000

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.

Situated just east of Interstate 435 and 87th Street in Lenexa (and in close proximity to Lenexa City Center), this property is located in an affluent area with the development of upper-end housing and mixed use projects including recently constructed medical office space. Few locations in the metro area offer a mix of stability, attractive demographics, and an upward growth trajectory. The property is well-positioned to see increased rental income over time as well as appreciation in this asset.

The 87th Street Corridor between Quivira Rd and I-435 is well-developed with a number of retailers and restaurants along with churches, public parks, and schools. However commercial development is limited to areas right along 87th Street, which means the population density within a one-mile radius of the property is almost 5,000 people per-square-mile with a total of 7,200 households. The population density falls as that radius increases to 3 miles and 5 miles, although additional development to the west is underway or nearing completion at nearby projects.

Next door to the property and “walkable” is Sonoma Plaza, an 85-acre mixed-use development including luxury apartments, retail shopping and restaurants. Other key tenants include McKeever’s Grocery Market, Starbucks and Chick-fil-A.

While many investment properties are located at the perimeter of an affluent area, this property is located in the heart of one. Average household income goes from $117,000 at a one-mile radius to $119,000 at a three-mile radius to $116,000 at a five-mile radius (those numbers are projected to rise to $131,000, $132,000, and $129,000, respectively, by 2029). The area is already home to a large number of high-income households in all directions, and that trend is set to continue.