Concentra Urgent Care
Office | 5.90% CAP | 7,500 SqFt
Marketing description
A free-standing, 7,500 RSF single-tenant urgent care and occupational health facility located in south Olathe, Kansas the county seat of Johnson County (the wealthiest county in Kansas) and the #1 Best Place to Live in Kansas for 2026 per U.S. News & World Report. Occupied by Concentra Health Services, Inc. (NYSE: CON) under a long-term corporate-guaranteed net lease.
The subject property sits on S. Rogers Road at the Interstate 35 interchange in Olathe, Kansas a corridor carrying ~49,413 vehicles per day. Over 114,000 residents live within a five-mile radius and more than 315,000 within ten miles. Average household income within a ten-mile radius exceeds $124,000. The property is directly across the highway from Olathe Medical Center (300+ bed hospital) and less than a mile from Olathe South High School (2,000+ students). Downtown Kansas City is ~20 miles away.
Major national tenants in the immediate trade area: The Home Depot, Target, Walmart, Lowe's, Menards, Aldi, Academy Sports & Outdoors, at Home, Tractor Supply, Wells Fargo, Sherwin Williams, Dutch Bros, Chipotle, Starbucks, Panera, Red Robin, Walgreens - plus Garmin's corporate headquarters nearby and several hospitality flags (Holiday Inn Express, Best Western Plus, IHG) within a one-mile radius.
Investment highlights
- Trophy Tenant. Concentra (NYSE: CON) operates 620+ centers across 41 states with FY 2025 revenue of $2.16 billion and Adjusted EBITDA of $431.9 million.
- Wealthiest County in Kansas. Johnson County - 632,276 residents, $109,357 median HHI. 5-mile trade area: $108,058 median HHI across 132,342 residents.
- Captive Employer Base. Garmin world HQ (~5,000 employees) less than 5 minutes away. BNSF Logistics Park KC, I-35 Logistics Park, KCNSC/Honeywell, FedEx, Panasonic EV battery plant.
- Exclusive Use Granted. Tenant holds a contractual exclusive on occupational/urgent care use.
- Renewal Optionality. Multiple long-term renewal options at fair market rent.
- Passive, Net-Lease Structure. Tenant reimburses real estate taxes and insurance; ideal for 1031 exchange and passive private capital.
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