INVESTMENT OFFERING. 60,380 SF Mixed-Use Building. 120 West Adams Avenue Kirkwood, MO Contact Information

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Britton Cole
5 years ago
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1 INVESTMENT OFFERING 60,380 SF Mixed-Use Building Contact Information (314) (314) Cozad Commercial Real Estate 16 Sunnen Drive, Ste. 164 St. Louis, Missouri 63143

$5,900,000 Cozad Commercial Real Estate is pleased to present for sale, 100% fee simple interest. The property is a free-standing 60,380 square foot building on approximately 1.

It contains Adams Place, a 44-unit luxury urban living community in addition to first floor retail/office space.

2 $5,900,000 Cozad Commercial Real Estate is pleased to present for sale, 100% fee simple interest. The property is a free-standing 60,380 square foot building on approximately 1.47 acres of ground built in The building is located at, a signalized intersection in the Kirkwood submarket, with visibility and frontage to South Kirkwood Road. It contains Adams Place, a 44-unit luxury urban living community in addition to first floor retail/office space. The building has a first floor with 14,590 square feet of retail/office rental space and 2,210 square feet of common area for Adams Place. The second floor contains 23 luxury apartments while the third floor contains 21 apartments. The building has a partial basement with mechanical and storage areas and an underground parking garage with a total of 16 parking spots. The residential section of the building contains a total of 45,790 square feet, which is 1,041 square feet per unit including 2,730 square feet of finished basement, but not including the 11,420 square feet of basement parking garage space. Each unit features full bathrooms with wall-to-wall carpeting, walk-in and standard closets, individually controlled heating and airconditioning, full kitchens with stainless steel appliances, stacked washer and dryers and emergency medical alert system. The main common areas are found on the first floor including, but not necessarily limited to: lobby/reception area, marketing and management offices, multi-purpose room and living room. The Second floor has a resident laundry room and the third floor has a common area living room at the northwest corner. The building does not have a dedicated kitchen or dining area. A restaurant is located on the first floor adjacent to the Adams Place common area. Dining services are provided by the restaurant under contract with Adams Place. Residents of Adams Place have direct access to the restaurant from the first floor common areas of Adams Place. The subject facility has 1,041 square feet of GBA per unit, which is considerably higher than the industry average of 889 square feet. The subject facility has common area amounting to 25 percent of the GBA, which is lower than the industry average of 32.3 percent. Information herein has been obtained from the owner of the property or from other sources financials available upon request. The brokers do not guarantee the accuracy of this information. Sellers and brokers make no representation as to the environmental or other conditions of the property and that purchaser investigate fully.

3 Common Area

4 One Bedroom Courtesy of Adams Place Living Room Kitchen Bedroom Bathroom

5 Two Bedroom Courtesy of Adams Place Living Room Kitchen Living Room Dining Room

6 Two Bedroom Master Bedroom Master Bathroom Second Bedroom Second Bathroom

7 Two Bedroom Deluxe Courtesy of Adams Place Living Room Kitchen Dining Room Dining Room

8 Two Bedroom Deluxe Master Bedroom Master Bathroom Second Bedroom Second Bathroom

9 Architectural Site Plan

10 Basement

11 First Floor

12 Second Floor

13 Third Floor

14 Submarket The entire Kirkwood/Frontenac multifamily market is exhibiting strong market fundamentals such as 93% market occupancy and strong forecasted absorption of more than 3,850 apartment units market-wide in This is the result of a stabilized job market, increased household formation, and a growing preference for rental living. The lack of new building activity fueled by healthy job growth, coupled by the changing demographics and renter preferences over homeownership, has translated into favorable multifamily demand and absorption that has met new supply and maintained healthy occupancies. In fact, demand is forecasted to exceed new supply by 1,817 units in 2018 and by 1,696 units through 2022.

15 Downtown Kirkwood 43 Restaurants 10 Churches/Attractions 46 Shops 154 Services Bar Louie Kaldi s Coffee Pickelman s Deli Crushed Red The MIZZOU Store Dewey s Pizza McArthur s Bakery Billy G s Strange Donuts Kirkwood Farmers Market Global Foods Walgreens Alpine Shop Imo s Pizza S. Kirkwood Rd. - 30,000 VPD SITE W. Adams Ave. - 6,500 VPD

Holliday Fenoglio Fowler, L.P. ( HFF ) a Texas licensed real estate broker. INVESTMENT SUMMARY

Holliday Fenoglio Fowler, L.P. ( HFF ) a Texas licensed real estate broker. INVESTMENT SUMMARY EXECUTIVE SUMMARY HFF has been exclusively retained to offer qualified investors the unique opportunity to