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Broadway StoneSide Portfolio

Well-Positioned in Kansas City's Northland Submarket

Immediate Value-Add Potential

THE PROPERTIES

The Opportunity

Berkadia's Mid Markets Investment Sales Team is pleased to present the exclusive opportunity to acquire Broadway / StoneSide, a 116-unit property located in Gladstone, MO and Kansas City’s Northland Submarket. The asset is conveniently located just off 169 Highway and is minutes away from nationally anchored restaurants and retail.

Broadway / StoneSide benefits from extensive capital improvement projects totaling more than $600,000 under current ownership. These strategic property improvements will benefit the asset and the investment for years to come. Given the great overall condition and excellent location of the real estate, this will allow a new investor to focus adding value to the investment by continuing to burn off the in-place loss to lease and pushing rents with simple interior upgrades. Further, a significant portion of the in-place rents not only lag the competition but lag the rents that have been achieved by the property in the recent months.

Investment Highlights

  • Excellent Northland Location with Easy Access To 169 Highway and Retail
  • Unit Mix with 80% Two-Bedroom Units - Average Unit Size 1,000+ SF
  • Substantial Loss-To-Lease Burn-Off Opportunity as Top End Rents Continue to Be Achieved
  • A Mark-To-Market Opportunity as Rents Significantly Trail the Competitive Set
  • Simple Cosmetic Interior Improvements Will Allow for Rent Increases
  • More Than $600,000 In Total Capital Improvements

CONTACT US

Investment Advisors

DOMINIC MARTINEZ

Associate Director

dominic.martinez@berkadia.com

816.759.0368

BRETT MEINZER

Director

brett.meinzer@berkadia.com

816.759.0366

MICHAEL SULLIVAN

Senior Director

michael.sullivan@berkadia.com

816.759.0369

ALEX BLAGOJEVICH

Managing Director

alex.blagojevich@berkadia.com

312.845.3088

KANSAS CITY OFFICE

4800 Main Street

Suite 501

Kansas City, MO 64112

816.531.2884 | Fax: 816.531.6188

Berkadia.com

Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry.   This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada. 

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