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Eye and Surgery Center Portfolio

2 Health Care Properties Offered at £3,912,371 in Prairie Village, KS

Investment Highlights

  • CORPORATE TENANT - Vision Integrated Partners (VIP) operates 62 locations, providing stronger creditworthiness than an individual practice and ensurin
  • Procedural Convenience – The CMS-accredited Physicians’ Surgery Center features two Operating Rooms enabling surgeons to treat patients effectively an
  • Strategic Location – Mid America Eye Center and Physicians’ Surgery Center are located side by side, providing convenient access to care for both phys
  • Tenant Commitment - VIP recently extended the Physicians’ Surgery Center lease to 10 years, reinforcing their commitment and the strategic value of th
  • Growing Market – Over the past 40 years, the Kansas City MSA has experienced steady population growth and is currently home to more than 2.2 million r
  • Diversified Revenues - The portfolio includes a surgery center, ophthalmic clinic & accounting office, providing multiple revenue streams and added s

Executive Summary

Jennifer Stein Real Estate, Inc. in association with ERE Healthcare Real Estate Advisors (“ERE Advisors”) exclusively represents the owners of 3840 & 3830 West 75th Street, Prairie Village, KS 66208 (“the portfolio”) in the sale of their facilities, which are occupied by Physicians’ Surgery Center (“PSC”), Mid America Eye Center (“Mid America Eye”), and SmartSpot. This medical condo
portfolio, situated in Prairie Village, an affluent suburb of Kansas City, encompasses approximately
14,134 square feet of space.
The medical portfolio includes two condos available for sale as a portfolio or individually. The units are strategically positioned next to one another, facilitating easy access for both physicians and patients of Mid America Eye.
The condos house surgical, clinical, and office space, supporting the operations of Physicians’ Surgery Center, Mid America Eye Center, and SmartSpot. Physicians’ Surgery Center, a CMS-accredited surgery center, features
2 operating rooms, 1 procedure room, a LASIK suite with a VisX excimer laser and iFS Femtosecond laser, and
a business office suite. Mid America Eye Center includes 9 examination rooms, a contact lens room, a minor
procedure room, and a diagnostic testing room.
Physicians’ Surgery Center and Mid America Eye Center have become integral to the Prairie Village community,
consistently serving the Kansas City MSA from the same location for nearly 25 years. The success attracted the attention of Vision Integrated Partners (VIP), a medical practice and ambulatory surgery center management
company, which partnered with Physicians’ Surgery Center and Mid America Eye Center in 2020. VIP, backed
by The Firmament Group, was founded two decades ago and has since expanded to manage over 60 clinic and surgery center locations across the United States.
At the close of escrow, the selected purchaser will assume the existing leases with Physicians’ Surgery Center, who just executed a new long-term 10-year lease renewal, and Mid America Eye & Smart Spot. Physicians’ Surgery
Center, Mid America Eye Center and Smart Spot have a combined WALT of 6.36 years

Property Facts

Price £3,912,371
Price / SF £276.81 / SF
Sale Conditions
Sale & Leaseback
  • Portfolio Sale
Net Initial Yield 8.02%
Sale Type Investment NNN
Status Active
Number of Properties 2
Individually For Sale 0
Total Building Size 14,134 SF
Total Land Area 0.35 AC

Properties

Property Name / Address Property Type Size Year Built Individual Price
3840 W 75th St, Prairie Village, KS 66208 Health Care 5,148 SF 1985 -
3830 W 75th St, Prairie Village, KS 66208 Health Care 8,986 SF 1985 -
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  • Listing ID: 33871901

  • Date on Market: 14/11/2024

  • Last Updated:

  • Address: Eye and Surgery Center Portfolio, Prairie Village, KS

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