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1st Floor - Unit 101
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Office
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9,598 SF
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$795,000 USD
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Unit Size: 9,598 SF
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Condo Use: Office
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Price: $795,000 USD
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Sale Type: Investment
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Price/SF: $82.83 USD
Description
ADD-VALUE OPPORTUNITY!
At only $83/SF and with an 8% cap rate ( 10.8% stabilized cap rate), this gorgeous and well-located trophy property makes you money today and even more in the near future!
This a rare opportunity to acquire the 1st and 2nd floor commercial spaces (units 101, 102, 103) at the Fountains Lofts, an iconic eight-story, Class A mixed use property. Although fully leased, the current below market rents allow for lots of upside.
With a total square footage of 9,598, we are selling for $83 a foot. Rarely does a fully leased, turn-key trophy asset of this architectural significance and income stability become available in Downtown Kansas City. The Fountains Lofts represents a legacy-quality investment in one of the Midwest’s fastest-growing and most dynamic urban cores.
This rare and unique loft-style office space is incredible. Huge timbers frame a space that is full of natural light from multiple large windows.
And the amenities are off the chart. A large clubhouse with TV and comfortable seating also includes a theater, kitchen, pool table, fitness center, and hot tub.
Sale Notes
Built in 1903 by renowned Kansas City architects Smith & Rea, the Fountains Lofts is a stunning example of Commercial/Second Renaissance Revival architecture. Originally home to the Faxon, Horton & Gallagher Drug Company, this National Register-eligible landmark has been meticulously restored to preserve its historic heavy timber structure and ornate gray/taupe brick façade while delivering modern Class A office functionality.
The building sits in the epicenter of the revitalized Garment District, surrounded by upscale restaurants, live music venues, craft cocktail bars, and coffee shops. The popular River Market district lies just blocks to the northeast, offering fresh produce markets and eclectic retail. Exceptional connectivity is provided via the Broadway Bridge (immediate interstate access), the KC Streetcar on Main Street, multiple bus lines along Broadway, and a B-Cycle station directly in front of the property.
Rarely does a fully leased, turn-key trophy asset of this architectural significance and income stability become available in Downtown Kansas City. The Fountains Lofts represents a legacy-quality investment in one of the Midwest’s fastest-growing and most dynamic urban cores.
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Will Fricker
ReThink KC Real Estate, LLC
