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Development Land Auction

Location: Quivira Road & 137th Street, Overland Park, KS

I-35 to US-69 S. (Exit 225B), south 7.5 miles to 135th St., west to Quivira Rd., then south to 137th St., on NW corner. Watch for signs.

12:30 PM Wednesday October 24th, 2018
REAL ESTATE
Click on thumbnail to see larger photo and description
5.89 Acres
This listing posted Oct. 6; for updates or more photos and info, CLICK HERE
 
5.89 Acre Development Site
in Affluent Johnson County, KS
Low Reserve at 80% off Previous List

ONLINE BIDDING ONLY -- closes on 12:30 p.m. Oct. 24.  To bid now, CLICK HERE

 

Close to Numerous Class A Shopping, Entertainment Developments, Top Rated Schools & Major Highways; Zoned & Approved, Ideal for Senior Living/Multi-Family

 

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 ID’S:  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 seller’s 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.

Development Land Auction



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