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10841 W 87th St 2,617 SF Office Condo Unit Offered at $499,000 in Overland Park, KS 66214
Investment Highlights
- Central location to highways
- Recent improvements, ready to occupy
- Lots of large windows with natural light, open spaces flexible to many uses
Executive Summary
LOCATION ANALYSIS Strategically Located in the Heart of Johnson County. 10841 W. 87th Street enjoys an exceptional location within one of Johnson County's most established professional office corridors. The property offers convenient access to Interstate 35, 69 Highway, K-7 Highway, Interstate 435, and the surrounding Kansas City metropolitan area. Its central location allows businesses to efficiently serve clients throughout Johnson County and the greater Kansas City region while providing employees with convenient commuting options. The property is surrounded by mature residential neighborhoods, established commercial development, healthcare facilities, retail shopping, restaurants, financial institutions, and numerous professional service providers. For businesses seeking accessibility, convenience, and a professional image, few locations offer a better combination of attributes. LOCATION HIGHLIGHTS Interstate Access Located one minute from Interstate 35, providing quick access to: Downtown Kansas City Overland Park Lenexa Olathe Gardner Spring Hill Kansas City International Airport Excellent regional access reduces travel time for employees, clients, vendors, and service providers. Business Environment The surrounding area is characterized by a strong concentration of professional office users, including: Medical practices Attorneys Certified Public Accountants Financial advisors Insurance agencies Engineering firms Technology companies Real estate professionals Consulting firms This established business environment contributes to the property's long-term desirability and value. Nearby Amenities Businesses benefit from immediate access to a wide variety of supporting services, including: Restaurants Coffee shops Hotels Banks Medical facilities Retail shopping Grocery stores Fitness facilities Professional services Employees and clients appreciate the convenience of having these amenities within minutes of the property. EXECUTIVE OFFICE MARKET Professional office condominiums continue to represent an attractive ownership opportunity for businesses seeking long-term occupancy. As lease rates continue to increase throughout Johnson County, owner-users are increasingly choosing to purchase office space rather than lease. Benefits include: Greater financial stability Equity accumulation Protection from future rent increases Long-term appreciation potential Improved control over business operations This property provides an opportunity to capitalize on those advantages while occupying a professionally improved office environment. FLOOR PLAN ANALYSIS The existing floor plan has been carefully designed to maximize efficiency while providing flexibility for future business needs. The suite offers an excellent balance between private offices and collaborative workspace. Reception Area The reception area establishes a professional first impression and efficiently directs visitors throughout the office. Executive Offices Private perimeter offices provide: Excellent natural light Quiet work environment Executive privacy Attractive views Conference Room The conference room supports: Client presentations Staff meetings Training sessions Video conferencing Executive planning Kitchen & Break Area Convenient employee break facilities contribute to workplace productivity while providing an attractive gathering space for staff. Open Flex Area One of the property's most valuable features is the expansive open workspace. Approximate dimensions: 45 feet × 33 feet Unlike traditional office suites dominated by enclosed offices, this open area allows purchasers to configure the space according to their operational requirements. Potential configurations include: Open office workstations Physical therapy treatment area Rehabilitation center Corporate training facility Educational classroom Engineering design studio Technology operations Call center Wellness center Team collaboration area Creative workspace This flexibility significantly extends the useful life of the property. PHOTO GALLERY Exterior The attractive brick exterior projects a professional image while reflecting the quality construction of the development. Recent site improvements enhance curb appeal and reinforce pride of ownership throughout the office park. Reception The reception area creates an inviting environment for visitors while establishing a positive first impression. Executive Offices Large windows provide abundant natural light, creating comfortable and productive working environments. Conference Room The conference room supports client interaction, strategic planning, and employee collaboration. Open Workspace The expansive open area represents one of the property's strongest competitive advantages, allowing businesses to customize the space as operational needs evolve. IDEAL OWNER PROFILE This property is particularly well suited for businesses planning long-term occupancy. Ideal purchasers include: Medical Physician Dentist Orthodontist Physical Therapy Occupational Therapy Counseling Behavioral Health Professional CPA Attorney Financial Advisor Insurance Agency Engineering Architecture Surveying Consulting Corporate Technology Administrative Headquarters Customer Service Center Training Center Education Corporate Office WHY THIS PROPERTY STANDS APART Many office condominiums offer only private offices with limited flexibility. This property combines: Executive image Immediate occupancy Flexible workspace Recent improvements Competitive pricing Excellent accessibility Strong owner-user economics These characteristics make the property attractive to a broad spectrum of professional businesses while supporting long-term investment value. BROKER'S MARKET COMMENTARY Commercial real estate is most valuable when it supports both business operations and long-term financial objectives. This property accomplishes both. The combination of immediate occupancy, recent capital improvements, competitive pricing, flexible design, and favorable ownership economics creates a compelling opportunity for businesses seeking to transition from leasing to ownership. For many owner-users, purchasing this property represents not only the acquisition of office space but also an investment in the future growth and financial strength of their business.
Data Room Click Here to Access
- Offering Memorandum
1 Unit Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment or Owner User | No. Parking Spaces | 10 |
| Cap Rate | 7.47% |
| Sale Type | Investment or Owner User |
| Cap Rate | 7.47% |
| No. Parking Spaces | 10 |
Description
CYPRESS REALTY, LLC
OFFICE CONDOMINIUM
FOR SALE OR LEASE
10841 W. 87th Street, Suite C
Overland Park, Kansas
EXCEPTIONAL OWNER-USER OPPORTUNITY
Asking Price
$499,000
Lease Rate
$15.00 Per Rentable Square Foot – Triple Net (NNN)
Building Area
2,617 Rentable Square Feet
Exclusively Offered By
Mark Neighbors, Broker
Cypress Realty, LLC
913-915-9477
MarkSNeighbors@gmail.com
EXECUTIVE SUMMARY
Cypress Realty, LLC is pleased to present an exceptional opportunity to purchase or lease a move-in-ready professional office condominium strategically located in one of Johnson County's most established office developments.
Offering approximately 2,617 rentable square feet, this attractive office condominium provides a rare combination of executive office finishes, flexible workspace, recent interior improvements, and significant office park capital improvements that position the property as an outstanding opportunity for both owner-users and tenants.
Unlike many office condominiums currently available in the marketplace, this property has recently benefited from extensive improvements both inside the suite and throughout the office park. Those improvements enhance the overall appearance of the development while helping minimize anticipated future capital expenditures.
Whether your business is expanding, relocating, or transitioning from leasing to ownership, this property offers an opportunity to invest in your company's future while controlling long-term occupancy costs.
The suite is available for immediate occupancy and is ideally suited for professional office, medical office, engineering, architecture, accounting, legal, financial services, insurance, technology, educational, counseling, wellness, rehabilitation, physical therapy, executive headquarters, or a variety of other professional business uses.
INVESTMENT HIGHLIGHTS
Exceptional Owner-User Opportunity
Rather than continuing to pay increasing lease payments, purchasers have the opportunity to acquire a quality office condominium while building long-term equity through ownership.
Move-In Ready
The suite has been recently improved and is available for immediate occupancy, minimizing tenant improvement costs and allowing a purchaser or tenant to begin operations quickly.
Functional Floor Plan
The thoughtfully designed floor plan combines executive offices, conference facilities, reception, support space, kitchen facilities, and a large open flex area that accommodates a broad range of business operations.
Significant Recent Capital Improvements
The Owners Association has recently completed numerous improvements throughout the office park, reducing deferred maintenance concerns and helping minimize future capital expenditures.
Improvements include:
OFFICE CONDOMINIUM
FOR SALE OR LEASE
10841 W. 87th Street, Suite C
Overland Park, Kansas
EXCEPTIONAL OWNER-USER OPPORTUNITY
Asking Price
$499,000
Lease Rate
$15.00 Per Rentable Square Foot – Triple Net (NNN)
Building Area
2,617 Rentable Square Feet
Exclusively Offered By
Mark Neighbors, Broker
Cypress Realty, LLC
913-915-9477
MarkSNeighbors@gmail.com
EXECUTIVE SUMMARY
Cypress Realty, LLC is pleased to present an exceptional opportunity to purchase or lease a move-in-ready professional office condominium strategically located in one of Johnson County's most established office developments.
Offering approximately 2,617 rentable square feet, this attractive office condominium provides a rare combination of executive office finishes, flexible workspace, recent interior improvements, and significant office park capital improvements that position the property as an outstanding opportunity for both owner-users and tenants.
Unlike many office condominiums currently available in the marketplace, this property has recently benefited from extensive improvements both inside the suite and throughout the office park. Those improvements enhance the overall appearance of the development while helping minimize anticipated future capital expenditures.
Whether your business is expanding, relocating, or transitioning from leasing to ownership, this property offers an opportunity to invest in your company's future while controlling long-term occupancy costs.
The suite is available for immediate occupancy and is ideally suited for professional office, medical office, engineering, architecture, accounting, legal, financial services, insurance, technology, educational, counseling, wellness, rehabilitation, physical therapy, executive headquarters, or a variety of other professional business uses.
INVESTMENT HIGHLIGHTS
Exceptional Owner-User Opportunity
Rather than continuing to pay increasing lease payments, purchasers have the opportunity to acquire a quality office condominium while building long-term equity through ownership.
Move-In Ready
The suite has been recently improved and is available for immediate occupancy, minimizing tenant improvement costs and allowing a purchaser or tenant to begin operations quickly.
Functional Floor Plan
The thoughtfully designed floor plan combines executive offices, conference facilities, reception, support space, kitchen facilities, and a large open flex area that accommodates a broad range of business operations.
Significant Recent Capital Improvements
The Owners Association has recently completed numerous improvements throughout the office park, reducing deferred maintenance concerns and helping minimize future capital expenditures.
Improvements include:
- New asphalt parking lot
- Concrete improvements
- ADA-compliant handicap parking spaces
- Parking lot striping
- Monument signage
- Landscape improvements
- Mature tree trimming
- Lawn sprinkler system improvements
These improvements enhance the overall appearance and long-term value of the property.
Outstanding Location
Located in one of Johnson County's premier commercial corridors, the property provides convenient access to Interstate 35, 69 Highway and the surrounding metropolitan area while being located near restaurants, hotels, retail shopping, financial institutions, medical facilities, and numerous professional office developments.
PROPERTY OVERVIEW
This attractive professional office condominium has been designed to accommodate the operational needs of today's professional businesses while providing flexibility for future growth.
The welcoming reception area creates an excellent first impression for clients and visitors. Executive offices are positioned to maximize natural light while maintaining privacy for management and professional staff. A dedicated conference room provides space for meetings, presentations, and client consultations.
One of the property's most attractive features is the expansive open flex workspace, measuring approximately 45 feet by 33 feet, which provides exceptional versatility for a wide variety of business operations.
Unlike traditional office layouts consisting almost entirely of enclosed offices, this flexible area can be configured to meet the specific needs of virtually any professional organization.
Potential uses include:
- Collaborative workstations
- Corporate training center
- Physical therapy
- Rehabilitation services
- Wellness programs
- Educational classrooms
- Engineering design studio
- Technology workspace
- Financial operations center
- Executive briefing area
- General office operations
The combination of private offices and open workspace allows the property to adapt as business needs evolve, making it an excellent long-term investment for owner-users.
WHY PURCHASE INSTEAD OF LEASE?
For businesses planning to remain in one location for an extended period, ownership often provides significant long-term financial advantages over leasing.
Rather than making monthly rent payments that build no equity, ownership allows a businessto invest in a tangible asset while benefiting from principal reduction, potential appreciation, and stable occupancy costs.
Based upon an assumed purchase price of $499,000, with 25% down and 6.75% financing amortized over 25 years, estimated monthly ownership costs compare favorably with leasing similar office space.
Ownership provides several distinct advantages:
- Build equity with every mortgage payment.
- Benefit from potential appreciation in property value.
- Stabilize occupancy costs with fixed-rate financing.
- Customize the office to meet changing business needs.
- Eliminate uncertainty associated with future lease renewals.
Potentially realize tax advantages through mortgage interest, depreciation, and other ownership benefits (buyers should consult their CPA or tax advisor).
For many professional businesses, ownership represents an investment in both their company and their long-term financial future.
Sale Notes
PROPERTY SPECIFICATIONS
General Property Information
Property Name Executive Office Headquarters
Property Address 10841 W. 87th Street, Suite 400
City Overland Park
County Johnson County
State Kansas
Property Type Professional Office Condominium
Status For Sale or Lease
Building Area 2,617 Rentable Square Feet
Occupancy Immediate
Asking Price $499,000
Price Per Square Foot Approximately $191
Lease Rate $15.00 Per RSF Triple Net
Parking Ample Surface Parking
Zoning Commercial
PROPERTY FEATURES
This office condominium has been thoughtfully designed to provide an efficient, professional working environment while allowing flexibility for future growth and changing business needs.
Reception Area
An attractive reception area welcomes clients and visitors while providing a professional first impression.
Executive Offices
Private perimeter offices offer abundant natural light, quiet working environments, and excellent visibility throughout the suite.
Conference Room
A dedicated conference room accommodates client meetings, presentations, staff training, and executive planning sessions.
Kitchen / Break Area
Convenient employee kitchen with cabinetry, sink, and break facilities.
Large Open Flex Area
One of the property's strongest features is the expansive open work area measuring approximately 45 feet by 33 feet.
This space offers tremendous flexibility for businesses requiring collaborative work environments or specialized operational areas.
Potential uses include:
General Property Information
Property Name Executive Office Headquarters
Property Address 10841 W. 87th Street, Suite 400
City Overland Park
County Johnson County
State Kansas
Property Type Professional Office Condominium
Status For Sale or Lease
Building Area 2,617 Rentable Square Feet
Occupancy Immediate
Asking Price $499,000
Price Per Square Foot Approximately $191
Lease Rate $15.00 Per RSF Triple Net
Parking Ample Surface Parking
Zoning Commercial
PROPERTY FEATURES
This office condominium has been thoughtfully designed to provide an efficient, professional working environment while allowing flexibility for future growth and changing business needs.
Reception Area
An attractive reception area welcomes clients and visitors while providing a professional first impression.
Executive Offices
Private perimeter offices offer abundant natural light, quiet working environments, and excellent visibility throughout the suite.
Conference Room
A dedicated conference room accommodates client meetings, presentations, staff training, and executive planning sessions.
Kitchen / Break Area
Convenient employee kitchen with cabinetry, sink, and break facilities.
Large Open Flex Area
One of the property's strongest features is the expansive open work area measuring approximately 45 feet by 33 feet.
This space offers tremendous flexibility for businesses requiring collaborative work environments or specialized operational areas.
Potential uses include:
- Physical Therapy
- Rehabilitation
- Engineering
- Technology
- Training Center
- Education
- Wellness Programs
- Call Center
- Corporate Collaboration
- Financial Operations
- Medical Support Services
- General Office
Unlike many office condominiums that consist primarily of enclosed offices, this flexible design allows a purchaser to customize the space to meet changing business requirements.
RECENT CAPITAL IMPROVEMENTS
A significant benefit of this offering is the substantial investment recently made throughout the office park.
These improvements enhance appearance while reducing anticipated future capital expenditures.
Recent improvements include:
Site Improvements
- New asphalt parking lot
- Concrete replacement
- ADA-compliant handicap parking improvements
- Parking lot striping
- Updated monument signage
- Directional signage improvements
Landscape Improvements
- Extensive tree trimming
- Landscape enhancements
- Lawn sprinkler system improvements
- Improved curb appeal throughout the development
These recent investments provide long-term value while minimizing deferred maintenance concerns often associated with older office developments.
WHY THIS PROPERTY REPRESENTS AN EXCELLENT VALUE
At an asking price of $499,000, this property represents approximately $191 per rentable square foot.
When compared with the cost of constructing new professional office space or leasing comparable facilities, this offering provides exceptional value.
In addition to the quality improvements already completed, purchasers benefit from immediate occupancy, eliminating construction delays and minimizing tenant improvement costs.
OWNERSHIP VS. LEASING ANALYSIS
For many businesses, occupancy costs represent one of the largest operating expenses.
Ownership converts that expense into an investment.
Estimated Ownership
Purchase Price
$499,000
Estimated Down Payment (25%)
$124,750
Estimated Loan Amount
$374,250
Interest Rate (Assumed)
6.75%
Amortization
25 Years
Estimated Monthly Ownership Costs
Expense Monthly
Principal & Interest $2,560
Real Estate Taxes $564
Property Insurance $193
Common Area Maintenance $531
Estimated Monthly Ownership Cost $3,848
Estimated Monthly Lease Costs
Expense Monthly
Base Rent $3,271
Triple Net Expenses $1,287
Estimated Monthly Lease Cost $4,558
Estimated Monthly Savings
Approximately $700 Per Month
In addition to estimated monthly savings, ownership provides benefits that leasing cannot.
LONG-TERM BENEFITS OF OWNERSHIP
Equity Accumulation
Every mortgage payment increases ownership through principal reduction.
Appreciation Potential
Future increases in property value belong to the owner.
Stable Occupancy Costs
Fixed-rate financing can provide predictable occupancy costs, unlike leases that are subject to renewal negotiations and market rent increases.
Business Control
Ownership provides flexibility to renovate, improve, or expand the office environment without landlord approval.
Potential Tax Advantages
Ownership may provide deductions for:
- Mortgage Interest
- Real Estate Taxes
- Building Depreciation
Certain Capital Improvements
Purchasers should consult their CPA regarding their specific tax situation.
WHY OWNER-USERS ARE BUYING COMMERCIAL OFFICE SPACE
Many successful professional firms have discovered that purchasing office space offers advantages beyond monthly cost savings.
Ownership transforms occupancy costs into an investment while providing stability, financial flexibility, and long-term wealth accumulation.
Businesses planning to remain in one location for five years or longer frequently find ownership to be one of their strongest long-term financial decisions.
BROKER'S OBSERVATION
In my opinion, this property is distinguished by three key strengths:
First, the flexible floor plan accommodates a wide range of professional users without significant renovation.
Second, the recent capital improvements throughout the office park reduce the likelihood of major near-term assessments, providing buyers with confidence in the property's condition.
Third, the combination of competitive pricing, immediate availability, and favorable ownership economics creates an outstanding opportunity for an owner-user to acquire quality office space while building equity instead of paying rent.
*Real Estate taxes are based on year 2025.
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit C | 2,617 SF | Office | $499,000 ($190.68/SF) | $37,292 |
Unit C
| Unit Size |
| 2,617 SF |
| Condo Use |
| Office |
| Price |
| $499,000 ($190.68/SF) |
| NOI |
| $37,292 |
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Unit C
| Unit Size | 2,617 SF |
| Condo Use | Office |
| Price | $499,000 ($190.68/SF) |
| NOI | $37,292 |
| Sale Type | Investment or Owner User |
| Cap Rate | 7.47% |
| No. Parking Spaces | 10 |
| Description | |
| CYPRESS REALTY, LLC<br> <br> OFFICE CONDOMINIUM<br> FOR SALE OR LEASE<br> 10841 W. 87th Street, Suite C<br> Overland Park, Kansas<br> <br> EXCEPTIONAL OWNER-USER OPPORTUNITY<br> Asking Price<br> $499,000<br> Lease Rate<br> $15.00 Per Rentable Square Foot – Triple Net (NNN)<br> Building Area<br> 2,617 Rentable Square Feet<br> <br> Exclusively Offered By<br> Mark Neighbors, Broker<br> Cypress Realty, LLC<br> 913-915-9477<br> MarkSNeighbors@gmail.com<br> <br> EXECUTIVE SUMMARY<br> Cypress Realty, LLC is pleased to present an exceptional opportunity to purchase or lease a move-in-ready professional office condominium strategically located in one of Johnson County's most established office developments.<br> Offering approximately 2,617 rentable square feet, this attractive office condominium provides a rare combination of executive office finishes, flexible workspace, recent interior improvements, and significant office park capital improvements that position the property as an outstanding opportunity for both owner-users and tenants.<br> Unlike many office condominiums currently available in the marketplace, this property has recently benefited from extensive improvements both inside the suite and throughout the office park. Those improvements enhance the overall appearance of the development while helping minimize anticipated future capital expenditures.<br> Whether your business is expanding, relocating, or transitioning from leasing to ownership, this property offers an opportunity to invest in your company's future while controlling long-term occupancy costs.<br> The suite is available for immediate occupancy and is ideally suited for professional office, medical office, engineering, architecture, accounting, legal, financial services, insurance, technology, educational, counseling, wellness, rehabilitation, physical therapy, executive headquarters, or a variety of other professional business uses.<br> <br> INVESTMENT HIGHLIGHTS<br> Exceptional Owner-User Opportunity<br> Rather than continuing to pay increasing lease payments, purchasers have the opportunity to acquire a quality office condominium while building long-term equity through ownership.<br> <br> Move-In Ready<br> The suite has been recently improved and is available for immediate occupancy, minimizing tenant improvement costs and allowing a purchaser or tenant to begin operations quickly.<br> <br> Functional Floor Plan<br> The thoughtfully designed floor plan combines executive offices, conference facilities, reception, support space, kitchen facilities, and a large open flex area that accommodates a broad range of business operations.<br> <br> Significant Recent Capital Improvements<br> The Owners Association has recently completed numerous improvements throughout the office park, reducing deferred maintenance concerns and helping minimize future capital expenditures.<br> Improvements include:<br> <ul style="list-style: disc; padding: 0px 0px 0px 40px"><li> New asphalt parking lot<br> </li><li> Concrete improvements<br> </li><li> ADA-compliant handicap parking spaces<br> </li><li> Parking lot striping<br> </li><li> Monument signage<br> </li><li> Landscape improvements<br> </li><li> Mature tree trimming<br> </li><li> Lawn sprinkler system improvements<br> These improvements enhance the overall appearance and long-term value of the property.<br> <br> Outstanding Location<br> Located in one of Johnson County's premier commercial corridors, the property provides convenient access to Interstate 35, 69 Highway and the surrounding metropolitan area while being located near restaurants, hotels, retail shopping, financial institutions, medical facilities, and numerous professional office developments.<br> <br> PROPERTY OVERVIEW<br> This attractive professional office condominium has been designed to accommodate the operational needs of today's professional businesses while providing flexibility for future growth.<br> <br> The welcoming reception area creates an excellent first impression for clients and visitors. Executive offices are positioned to maximize natural light while maintaining privacy for management and professional staff. A dedicated conference room provides space for meetings, presentations, and client consultations.<br> <br> One of the property's most attractive features is the expansive open flex workspace, measuring approximately 45 feet by 33 feet, which provides exceptional versatility for a wide variety of business operations.<br> Unlike traditional office layouts consisting almost entirely of enclosed offices, this flexible area can be configured to meet the specific needs of virtually any professional organization.<br> Potential uses include:<br> </li><li> Collaborative workstations<br> </li><li> Corporate training center<br> </li><li> Physical therapy<br> </li><li> Rehabilitation services<br> </li><li> Wellness programs<br> </li><li> Educational classrooms<br> </li><li> Engineering design studio<br> </li><li> Technology workspace<br> </li><li> Financial operations center<br> </li><li> Executive briefing area<br> </li><li> General office operations<br> The combination of private offices and open workspace allows the property to adapt as business needs evolve, making it an excellent long-term investment for owner-users.<br> <br> WHY PURCHASE INSTEAD OF LEASE?<br> For businesses planning to remain in one location for an extended period, ownership often provides significant long-term financial advantages over leasing.<br> <br> Rather than making monthly rent payments that build no equity, ownership allows a businessto invest in a tangible asset while benefiting from principal reduction, potential appreciation, and stable occupancy costs.<br> <br> Based upon an assumed purchase price of $499,000, with 25% down and 6.75% financing amortized over 25 years, estimated monthly ownership costs compare favorably with leasing similar office space.<br> Ownership provides several distinct advantages:<br> </li><li> Build equity with every mortgage payment.<br> </li><li> Benefit from potential appreciation in property value.<br> </li><li> Stabilize occupancy costs with fixed-rate financing.<br> </li><li> Customize the office to meet changing business needs.<br> </li><li> Eliminate uncertainty associated with future lease renewals.<br> Potentially realize tax advantages through mortgage interest, depreciation, and other ownership benefits (buyers should consult their CPA or tax advisor).<br> <br> For many professional businesses, ownership represents an investment in both their company and their long-term financial future.</li></ul> | |
| Sale Notes | |
| PROPERTY SPECIFICATIONS<br> General Property Information<br> Property Name Executive Office Headquarters<br> Property Address 10841 W. 87th Street, Suite 400<br> City Overland Park <br> County Johnson County<br> State Kansas<br> Property Type Professional Office Condominium<br> Status For Sale or Lease<br> Building Area 2,617 Rentable Square Feet<br> Occupancy Immediate<br> Asking Price $499,000<br> Price Per Square Foot Approximately $191<br> Lease Rate $15.00 Per RSF Triple Net<br> Parking Ample Surface Parking<br> Zoning Commercial <br> <br> PROPERTY FEATURES<br> This office condominium has been thoughtfully designed to provide an efficient, professional working environment while allowing flexibility for future growth and changing business needs.<br> Reception Area<br> An attractive reception area welcomes clients and visitors while providing a professional first impression.<br> <br> Executive Offices<br> Private perimeter offices offer abundant natural light, quiet working environments, and excellent visibility throughout the suite.<br> <br> Conference Room<br> A dedicated conference room accommodates client meetings, presentations, staff training, and executive planning sessions.<br> <br> Kitchen / Break Area<br> Convenient employee kitchen with cabinetry, sink, and break facilities.<br> <br> Large Open Flex Area<br> One of the property's strongest features is the expansive open work area measuring approximately 45 feet by 33 feet.<br> This space offers tremendous flexibility for businesses requiring collaborative work environments or specialized operational areas.<br> Potential uses include:<br> <ul style="list-style: disc; padding: 0px 0px 0px 40px"><li> Physical Therapy<br> </li><li> Rehabilitation<br> </li><li> Engineering<br> </li><li> Technology<br> </li><li> Training Center<br> </li><li> Education<br> </li><li> Wellness Programs<br> </li><li> Call Center<br> </li><li> Corporate Collaboration<br> </li><li> Financial Operations<br> </li><li> Medical Support Services<br> </li><li> General Office<br> Unlike many office condominiums that consist primarily of enclosed offices, this flexible design allows a purchaser to customize the space to meet changing business requirements.<br> <br> RECENT CAPITAL IMPROVEMENTS<br> A significant benefit of this offering is the substantial investment recently made throughout the office park.<br> These improvements enhance appearance while reducing anticipated future capital expenditures.<br> Recent improvements include:<br> Site Improvements<br> </li><li> New asphalt parking lot<br> </li><li> Concrete replacement<br> </li><li> ADA-compliant handicap parking improvements<br> </li><li> Parking lot striping<br> </li><li> Updated monument signage<br> </li><li> Directional signage improvements<br> Landscape Improvements<br> </li><li> Extensive tree trimming<br> </li><li> Landscape enhancements<br> </li><li> Lawn sprinkler system improvements<br> </li><li> Improved curb appeal throughout the development<br> These recent investments provide long-term value while minimizing deferred maintenance concerns often associated with older office developments.<br> <br> WHY THIS PROPERTY REPRESENTS AN EXCELLENT VALUE<br> At an asking price of $499,000, this property represents approximately $191 per rentable square foot.<br> When compared with the cost of constructing new professional office space or leasing comparable facilities, this offering provides exceptional value.<br> In addition to the quality improvements already completed, purchasers benefit from immediate occupancy, eliminating construction delays and minimizing tenant improvement costs.<br> <br> OWNERSHIP VS. LEASING ANALYSIS<br> For many businesses, occupancy costs represent one of the largest operating expenses.<br> Ownership converts that expense into an investment.<br> Estimated Ownership<br> Purchase Price<br> $499,000<br> Estimated Down Payment (25%)<br> $124,750<br> Estimated Loan Amount<br> $374,250<br> Interest Rate (Assumed)<br> 6.75%<br> Amortization<br> 25 Years<br> <br> Estimated Monthly Ownership Costs<br> Expense Monthly<br> Principal & Interest $2,560<br> Real Estate Taxes $564<br> Property Insurance $193<br> Common Area Maintenance $531<br> Estimated Monthly Ownership Cost $3,848<br> <br> Estimated Monthly Lease Costs<br> Expense Monthly<br> Base Rent $3,271<br> Triple Net Expenses $1,287<br> Estimated Monthly Lease Cost $4,558<br> <br> Estimated Monthly Savings<br> Approximately $700 Per Month<br> In addition to estimated monthly savings, ownership provides benefits that leasing cannot.<br> <br> LONG-TERM BENEFITS OF OWNERSHIP<br> Equity Accumulation<br> Every mortgage payment increases ownership through principal reduction.<br> <br> Appreciation Potential<br> Future increases in property value belong to the owner.<br> <br> Stable Occupancy Costs<br> Fixed-rate financing can provide predictable occupancy costs, unlike leases that are subject to renewal negotiations and market rent increases.<br> <br> Business Control<br> Ownership provides flexibility to renovate, improve, or expand the office environment without landlord approval.<br> <br> Potential Tax Advantages<br> Ownership may provide deductions for:<br> </li><li> Mortgage Interest<br> </li><li> Real Estate Taxes<br> </li><li> Building Depreciation<br> Certain Capital Improvements<br> Purchasers should consult their CPA regarding their specific tax situation.<br> <br> WHY OWNER-USERS ARE BUYING COMMERCIAL OFFICE SPACE<br> Many successful professional firms have discovered that purchasing office space offers advantages beyond monthly cost savings.<br> Ownership transforms occupancy costs into an investment while providing stability, financial flexibility, and long-term wealth accumulation.<br> Businesses planning to remain in one location for five years or longer frequently find ownership to be one of their strongest long-term financial decisions.<br> <br> BROKER'S OBSERVATION<br> In my opinion, this property is distinguished by three key strengths:<br> First, the flexible floor plan accommodates a wide range of professional users without significant renovation.<br> Second, the recent capital improvements throughout the office park reduce the likelihood of major near-term assessments, providing buyers with confidence in the property's condition.<br> Third, the combination of competitive pricing, immediate availability, and favorable ownership economics creates an outstanding opportunity for an owner-user to acquire quality office space while building equity instead of paying rent.<br> <br> *Real Estate taxes are based on year 2025.</li></ul> |
Property Facts
The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Building Size | 5,000 SF | Typical Floor Size | 5,000 SF |
| Property Type | Office (Condo) | Year Built | 1985 |
| Property Subtype | Medical | Lot Size | 0.20 AC |
| Building Class | C | Parking Ratio | 3/1,000 SF |
| Floors | 1 | ||
| Zoning | CPO - Zoned Commercial Office | ||
| Total Building Size | 5,000 SF |
| Property Type | Office (Condo) |
| Property Subtype | Medical |
| Building Class | C |
| Floors | 1 |
| Typical Floor Size | 5,000 SF |
| Year Built | 1985 |
| Lot Size | 0.20 AC |
| Parking Ratio | 3/1,000 SF |
| Zoning | CPO - Zoned Commercial Office |
Amenities
- Signage
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
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10841 W 87th St