cody plaza - loopnet
TRANSCRIPT
Cody Plaza 111 Shawnee Street
Leavenworth, Kansas 66048
NKF Multifamily Capital MarketsINVESTMENT SALES
Mac Crowther, Vice [email protected] T 816-556-1188M 816-589-0678
Whittaker Potts, Transaction Manager Andrew Clemons, [email protected] [email protected] 816-556-1188 T 816-556-1188M 913-749-7985 M 913-220-0728
ADDRESS111 Shawnee Street
Leavenworth, KS 66048PROFORMA CAP RATE
6.50%SUB-MARKET
Leavenworth, KS
# Of UNITS87NRA
47,850NUMBER OF BUILDINGS
1YOC
1983LAND/ACRES
50,094 SF/1.15 ACAVG UNIT SIZE
550 SFAVG MKT RENT/UNIT
$675AVG MKT RENT/SF
$1.23OCCUPANCY %
100% (5/20)
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SHAWNEE STREET
S ESPLAN
ADE STREET
S SE
CON
D ST
REET
DELAWARE STREET
RIVERFRONT COMM
UNITY
CENTER
Leavenworth sits on the rolling hills of the west bank of the Missouri River, minutes from KCI Airport, Fort Leavenworth and Kansas City. Leavenworth is considered an outer-ring suburb of Kansas City, Missouri and is a full-service community. Leaven-worth is home to Fort Leavenworth, U.S. Federal Penitentiary at Leavenworth and the Dwight D. Eisenhower Veterans Affairs Medical Center, part of the U.S. Department of Veterans Affairs Eastern Kansas Health Care System. Major employers include Cereal Ingredients, Hallmark Cards, Corrections Corporation of America, as well as the Armed Forces Insurance Center.
The Cody Plaza Apartments, at 111 Shawnee, is well situated in Historic Downtown Leavenworth Kansas. Located two blocks west of 4th street, the Cody Plaza is steps away from the 28-block historic district. Downtown Leavenworth has under-gone major re-development in the last 10 years. The historic district has seen the benefits offering convenient proximity to dozens of locally owned shops, restaurants and entertainment. The Leavenworth Landing is now home to the B & B Theatre ex-perience providing a luxury movie going experience with full-service bar. In addition to the commercial and entertainment development Leavenworth has seen close to $100M in new residential and hotel development over the last few years. Four new construction hotels were recently built for over $30M with a total of 365 rooms. Six Historic properties were converted into close to 400 market rate apartments totaling over $60M.
The Cody Plaza is located next to the Riverfront Community Center and Leaven-worth Landing Park. The Riverfront Community Center is a beautiful, historic 53,000 square foot Union Depot Train Station built in 1888 and was lovingly restored in 1988 as a multi-functional facility. The Community Center includes a full-service gym, Basketball courts, indoor swimming pool, and event venue. Leavenworth Landing Park is a beautiful one-quarter mile linear parkway along the Missouri River in down-town Leavenworth. The park commemorates the surface transportation links that made Leavenworth important in the 1850's, including riverboats, railroad, wagon es-corts, outfitters, trails west and military roads all went through Leavenworth. This is also the entrance to the Three-Mile-Creek Trail which connects the east end of Leav-enworth Landing to the walkway to 7th Street in historic downtown. As the “First City of Kansas”, Leavenworth is the ideal place to live and explore the state's history.
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LOCATION SUMMARYTOP AREA EMPLOYERS
1. Fort Leavenworth - 8,821 employees
2. VA Medical Center - 702 employees
3. Leavenworth USD - 630 employees
4. Lansing Correctional Facility - 575 employees
5. VA-CPAC - 454 employees
6. Leavenworth County - 407 employees
7. Basehor USD - 400 employees
8. US Federal Penitentiary - 355 employees
9. Northrup-Grumman - 345 employeesThe population of the United States is expected to grow at a steady rate for the next ten years. According to the US Census Bureau, current estimates project annual growth at approximately 1%/year. Population growth at the regional level is projected to be steady, but to take place at a much slower rate than for the nation at large. Kansas and Missouri have 10-year growth projections of 3% and 4%, respectively. Leavenworth County is expected to experience a more rapid growth than either the state of Kansas or the Midwest region. The 2020 projected population for Leavenworth County is 83,000, which represents a growth of nearly 7% from 2010-2020. Population growth stimulates demand for new services, housing, and general development.
Fort Leavenworth provides 36% of the civilian employment to the City of Leavenworth and is home to the Combined Arms Center, the intellectual center of the Army; The U.S. Army Command Central Staff College; National Simulation Center and the Army Corrections Complex. Leavenworth is home to the The University of Saint Mary, the Dwight D. Eisenhower Veterans Affairs Medical Center, and the Leavenworth Federal Penitentiary.
The Riverfront Community Center (former Union Depot) is an iconic element within Downtown Leavenworth.
The military presence in the Leavenworth area demands additional housing options. Multi-family housing additions in Leavenworth, the past few years, include over 350 units of high-end market-rate loft units scattered throughout several rehabilitated former schools and historic buildings located in the downtown area.
Haymarket Square is a favorite destination within Downtown Leavenworth.
PROPERTY PHOTOS
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Map data ©2020 2000 ft
111 Shawnee St
Page 1 of 3111 Shawnee St - Google Maps
1/14/2020https://www.google.com/maps/place/111+Shawnee+St,+Leavenworth,+KS+66048/@39.3375492,-94.9372137,14z/data=!4m5!3m4!1...
EXCLUSIVE REPRESENTATION
Newmark Knight Frank (NKF) has been exclusively retained to represent the Seller in the disposition of The New Yorker Apartments. All inquiries about the Offering or the Property should be directed to NKF.
OFFER SUBMISSION
Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of Purchasers’ offers including, but not limited to (1) asset pricing, (2) due diligence and closing time frame, (3) earnest money deposit, (4) a description of the debt/equity structure, and (5) qualifications to close. Offers should be delivered to the attention of Mac Crowther at his email address number listed for NKF.
PROPERTY VISITATION
Prospective purchasers will have the opportunity to visit the Property via pre-scheduled property tours. These tours will include access to a sampling of available units and limited access to property personnel. In order to accommodate the Property’s ongoing operations, property visitation will require advance notice and scheduling. No property tours will be allowed without a scheduled appointment and prospective purchasers may not contact the property or visit the property without being accompanied by an individual from NKF.
OFFER PROCESS
NKF Multifamily Capital MarketsINVESTMENT SALES
Mac Crowther, Vice [email protected] T 816-556-1188M 816-589-0678
Whittaker Potts, Transaction [email protected] T 816-556-1188M 913-749-7985
Andrew Clemons, [email protected] 816-556-1188M 913-220-0728
NEWMARK KNIGHT FRANK4520 Main Street, Suite 1450Kansas City, MO 64111T 816-556-1188 2/20