turnkey mixed-use investment...clemons real estate, llc 2999 troost ave suite 3 816.774.4250...

TURNKEY MIXED-USETURNKEY MIXED-USEINVESTMENTINVESTMENT9 0 1 - 9 0 3 W E S T P O R T R D . , K A N S A S C I T Y , M O 6 4 1 1 1

LOGAN FREEMAN THOMAS SKEVINGTONCOMMERCIAL & INVESTMENT SALES MULTI-FAMILY & INVESTMENT SALES573.694.9669 [email protected] [email protected]

CLEMONS REAL ESTATE, LLC 2999 TROOST AVE SUITE 3 816.774.4250 CLEMONSLIFE.COM

F O R S A L E

22901 WESTPORT RD.901 WESTPORT RD.9 0 1 - 9 0 3 W E S T P O R T R D . , K A N S A S C I T Y , M O 6 4 1 1 1 CL

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E X E C U T I V E S U M M A R Y33

C O M P L E T E H I G H L I G H T S44

L O C A T I O N D E S C R I P T I O N55

F I N A N C I A L S U M M A R Y66

P R O F O R M A D E T A I L S77

A D D I T I O N A L P H O T O S88

P H O T O S - C O N T ' D99

T H E K A N S A S C I T Y M A R K E T1 01 0

A D V I S O R B I O1 11 1

A D V I S O R B I O1 21 2

C O N F I D E N T I A L I T Y & D I S C L A I M E RAll materials and information received or derived from Clemons Real Estate, LLC its directors,officers, agents, advisors, affiliates and/or any third party sources are provided withoutrepresentation or warranty as to completeness , veracity, or accuracy, condition of the property,compliance or lack of compliance with applicable governmental requirements, developability orsuitability, financial performance of the property, projected financial performance of the propertyfor any party’s intended use or any and all other matters.

Neither Clemons Real Estate, LLC its directors, officers, agents, advisors, or affiliates makesany representation or warranty, express or implied, as to accuracy or completeness of the anymaterials or information provided, derived, or received. Materials and information from anysource, whether written or verbal, that may be furnished for review are not a substitute for aparty’s active conduct of its own due diligence to determine these and other matters ofsignificance to such party. Clemons Real Estate, LLC will not investigate or verify any suchmatters or conduct due diligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify allinformation and to conduct their own inspections and investigations including throughappropriate third party independent professionals selected by such party. All financial datashould be verified by the party including by obtaining and reading applicable documents andreports and consulting appropriate independent professionals. Clemons Real Estate, LLC makesno warranties and/or representations regarding the veracity, completeness, or relevance of anyfinancial data or assumptions. Clemons Real Estate, LLC does not serve as a financial advisor toany party regarding any proposed transaction. All data and assumptions regarding financialperformance, including that used for financial modeling purposes, may differ from actual data orperformance. Any estimates of market rents and/or projected rents that may be provided to aparty do not necessarily mean that rents can be established at or increased to that level.Parties must evaluate any applicable contractual and governmental limitations as well asmarket conditions,vacancy factors and other issues in order to determine rents from or for theproperty.

Legal questions should be discussed by the party with an attorney. Tax questions should bediscussed by the party with a certified public accountant or tax attorney. Title questions shouldbe discussed by the party with a title officer or attorney. Questions regarding the condition ofthe property and whether the property complies with applicable governmental requirementsshould be discussed by the party with appropriate engineers, architects, contractors, otherconsultants and governmental agencies. All properties and services are marketed by ClemonsReal Estate, LLC in compliance with all applicable fair housing and equal opportunity laws.

TABLE OF CONTENTSTABLE OF CONTENTS


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PROPERTY OVERVIEW901-903 Westport Road is a 2-story turnkey, mixed-use property located in theheart of the Westport neighborhood of Kansas City, Missouri. It is ideally situatedbetween the Crossroads/Downtown neighborhoods and the Country Club Plaza. It islocated in one of the most walkable corridors of Kansas City, and is just ten blockswest of the future Kansas City Streetcar extension along Main St.

The second level of the building consists of 1 two-bedroom and 1 three-bedroomapartment units. The 3 first floor retail spaces contain a small clothing store (800SF), a salon (1,500 SF), and a tattoo shop (1,500 SF). The property has receivedover $200,000 in capital improvements in the past 5 years, and the current ownerhas maximized revenue through the conversion of the upper-level apartments intoshort term rental units.

Westport is traditionally one of the strongest neighborhoods for retail tenants inKansas City. The nearby restaurants and nightlife are also strong draws for bothweekend vacationers and mid-week business travelers. Despite the Covid-19Pandemic and lockdown, the 2 short term rental units have far exceeded thepotential revenue previously gained as traditional apartments.

OFFERING SUMMARYSale Price: $1,199,000

Building Size: 7,600 SF

Lot Size: 0.084 Acres

Unit Count: 5

Stabilized Cap Rate: 7.00%

Year Built: 1930

Zoning: B3-2

EXECUTIVE SUMMARYEXECUTIVE SUMMARY


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LOCATION INFORMATIONStreet Address 901-903 Westport Rd.

City, State, Zip Kansas City, MO 64111

County Jackson

PROPERTY HIGHLIGHTS

• Prime Location in Westport with easy accessto entertainment, retail, and job centers

• Walkable corridor, just steps from Kansas Citystaples such as the Westport Flea Market,Bluestem, Kelly's and more

• All short term rental unit FF&E included in sale

• Consists of 2 Short-Term Rental Units, and 3Ground-Floor Retail Spaces

• Combined Short Term monthly rent hasaveraged almost $7,000 per month since May2020

COMPLETE HIGHLIGHTSCOMPLETE HIGHLIGHTS


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LOCATIONThe offering is located in Westport, in the heart of Midtown, Kansas City. Westport is a thriving urban neighborhood, witha healthy mix of restaurant and dining options, entertainment, and residential homes and apartments.

Midtown Kansas City is a historic, vibrant residential/commercial community where businesses, neighborhoods, andinstitutions reinforce one another. The Country Club Plaza is Kansas City’s premier retail, dining and entertainmentdestination and is located just south of Westport. The Country Club Plaza is the south border of Kansas City’s commercecorridor which extends through Midtown north to Downtown Kansas City. The corridor is home to the World Headquartersof Hallmark Cards, American Century Investments, Lockton Insurance, and Russell Stover Candies.

901 Westport Rd. is just minutes away from the Kemper Museum of Modern Art, the Kansas City Art Institute, and theNelson Atkins Museum. The complex is conveniently situated only minutes from Downtown, the Crossroads, Hyde Park,St. Luke’s Hospital, Crown Center, Union Station, the University of Kansas Medical Center, Children’s Mercy Hospital,Truman Medical Center, Penn Valley Community College, the Federal Reserve Bank, the Stowers Institute for MedicalResearch, Rockhurst University the University of Missouri Kansas City (UMKC) main campus and the separate campusesof UMKC Schools of Dentistry, Nursing, Pharmacy and Medicine.

LOCATIONLOCATION


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FINANCIAL SUMMARYFINANCIAL SUMMARY


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PROFORMA DETAILSPROFORMA DETAILS


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ADDITIONAL PHOTOSADDITIONAL PHOTOS


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PHOTOSPHOTOS


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MARKET OVERVIEWThe Kansas City Metropolitan Area is in the midst of a large-scale transformation from quiet Midwestern city into a modern live-work-play environment. The heart of downtownhas experienced $9+ billion in investment since 2001, including a new convention hotel, a state-of-the-art sports arena, a performing arts center, a new streetcar, and aneight-block restaurant and entertainment district. Unprecedented levels of investment in private and public projects have made Kansas City a major entertainment hub, andhave enhanced the appeal of the metro as a residential, cultural and business destination.

The Kansas City apartment market remained in a strong position in 2019. The metro saw its strongest absorption of the cycle throughout 2017–18 and outpaced deliveriesacross 2019. The break in the influx of new supply across much of 2019 helped year-over-year rent gains pick up to their strongest pace since 2016. Though investmentactivity slowed slightly in 2019, the average price per unit remained elevated. Several institutional investors have been active in the market, acquiring assets.

The Kansas City area continues to be known nationally and internationally for its championship-winning sports teams, art, culture, and ease of living. Outstanding venues andattractions populate the metro area, including the Nelson-Atkins Museum of Art, the Kauffman Center for the Performing Arts, the World War I Museum and Memorial, the NegroLeagues Baseball Museum, Kauffman and Arrowhead Stadiums, and the Truman Library.

WHY INVEST IN KC?WHY INVEST IN KC?


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LOGAN FREEMANLOGAN FREEMAN

Commercial & Investment Sales

[email protected]:Direct: 573.694.9669

PROFESSIONAL BACKGROUNDPROFESSIONAL BACKGROUNDLogan has found his niche in the real estate industry acting as an investment property specialist and representing out-of-state investors.Understanding what sophisticated investors are looking for, supporting their due diligence process, along with sourcing off-market properties isLogan's specialty. He is well versed and has the team to help his clients all the way through the acquisition process up to stabilization includingconstruction, leasing, management and professional property management services.

Logan has completed multiple joint venture projects, equity partnerships, and works in many capacities for his clients. Completing over 120transactions in less than a year, Logan has found a reliable process and uses his network to create win-win scenarios for all parties in thetransaction. Starting with the end in mind, Logan is able to understand his clients needs and help them find the right investment.

Logan is an advocate for affordable housing and works closely with many organizations in helping to end homelessness in Kansas City.Understanding how to “do well by doing good” is Logan's motto and has made it his “why” for doing business.

KEY PROJECTSLogan has helped out of state investors acquire over 50 multifamily projects, commercial mixed use buildings and retail NNN buildings over the past2 years.

Out of State Fund: 120 acquisitions in 12 months. In 2018, Logan worked exclusively with an out of state fund to source, negotiate, estimaterenovations, and close each transaction. He brought with him hard work, clear communication, and a sound methodology to find off-marketproperties to fit the client’s criteria.

NNN Retail Portfolio.In 2019, Logan worked with an out of state client to identify and successfully close on 3 separate shopping centers in the Kansas City market.Logan played a key role in the underwriting and due diligence process, and connected his client with valued lending and vendor partners in themarket. They are now on track to acquire 2-4 properties per year in Kansas City.

EDUCATIONEDUCATIONMaster of Business Administration from UCMBachelor of Applied Science from UCM

MEMBERSHIPSMEMBERSHIPS-Broadway Westport Council Board Member-BS in Business Administration with a Concentration in Entrepreneurship - University of Kansas (2015)-Honors Program - University of Kansas-KS & MO Real Estate License

Clemons Real Estate, LLCClemons Real Estate, LLC2999 Troost Ave Suite 3Kansas City, MO 64109

816.774.4250

ADVISOR BIOADVISOR BIO


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THOMAS SKEVINGTONTHOMAS SKEVINGTON

Multi-Family & Investment Sales

[email protected]:Direct: 913.231.1086

PROFESSIONAL BACKGROUNDPROFESSIONAL BACKGROUNDThomas joined Clemons in 2016, and specializes in investment sales. He has a strong focus on urban neighborhoods withinKansas City, from the River Market to Brookside. Thomas assists his clients in evaluating all asset classes, includingMulti-Family, Office, Retail, and Mixed-Use projects. He is an expert in analyzing proformas and financial statements to predictfuture operating potential. In addition, Thomas is well versed in macro-economic indicators which allows him to strategicallyadvise his clients in market acquisition and disposition strategies in the Midwest.

KEY ASSIGNMENTSBeacon Hill School (30,000sf Education Facility): Thomas assisted his client in identifying a rare special use building, andmaximized the client’s return while improving the neighborhood’s access to education. Thomas formed a strategic plan toacquire, reposition, and sell the asset to an owner occupant who was specifically seeking this style of property within the urbancore of Kansas City.

Emerson Manor (61-Unit Mult-Family): Thomas assisted his client in disposing of a distressed asset by securing a contract toclose within 2 weeks to meet their financial deadlines. Thomas’s in depth knowledge of active buyers in the market allowed himto identify a capable party within a very short timeframe for his client.

EDUCATIONEDUCATIONThomas graduated from the University of Kansas in 2015 with a degree in Business Administration and a concentration inEntrepreneurship. Prior to Clemons, Thomas worked in the Advertising Technology Industry.

MEMBERSHIPSMEMBERSHIPS-Broadway Westport Council Board Member-BS in Business Administration with a Concentration in Entrepreneurship - University of Kansas (2015)-Honors Program - University of Kansas-KS & MO Real Estate License

Clemons Real Estate, LLCClemons Real Estate, LLC2999 Troost Ave Suite 3Kansas City, MO 64109

816.774.4250

ADVISOR BIOADVISOR BIO

turnkey mixed-use investment...clemons real estate, llc 2999 troost ave suite 3 816.774.4250...

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