This 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 $500,000. 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. The property was recently listed for sale at a price of $1 million.

This investment opportunity is time definite and only available through the auction date. The property was recently listed for sale at a price $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. The online auction ends Wednesday, October 24, 2018 at 12:30 p.m. 

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.