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The Penntower Office Center 3100 Broadway St 217,492 SF 9% Leased Office Building Online Auction Sale Kansas City, MO 64111
Matterport 3D Tours
Investment Highlights
- Spectacular, unobstructed views atop a hill overlooking downtown KC from every floor and on-site parking (791 spaces) with expansion potential.
- Just steps away from the KC Streetcar, providing free and convenient access to the entirety of the urban core.
- Adaptive reuse potential with 16,000-square-foot floor plates ideal for multifamily or mixed-use conversion.
- Strategically located near leading employers and abundant greenspaces, with seamless connectivity to the KC Metro via Interstate 35.
- Historic tax credits are available up to approximately 45% of qualified rehabilitation costs.
- Kansas City has remained a top-performing Midwest multifamily market with average annual rent growth of 5.1% over the past 5 years.
Executive Summary
Located at the gateway of Kansas City’s resurging Midtown district, Penntower is one of Kansas City’s most compelling redevelopment opportunities. Rising 13 stories on a landmark hilltop site, the ~217,000 RSF Midtown office tower offers unsurpassed views of the downtown skyline.
Built in 1974, Penntower’s modernist design and strong concrete and steel structure make it ideally suited for adaptive reuse. Its future lies in transformation, from an underutilized office tower into a dynamic residential or mixed-use destination. With a connected garage, convenient access to the new streetcar extension, and eligibility for historic tax credits, Penntower offers developers an exceptional opportunity to create Kansas City’s next premier address.
The property is largely vacated, with only a few short-term tenants remaining, making it prime for immediate redevelopment.
Property tours are available by appointment only. Please contact the broker to schedule.
Built in 1974, Penntower’s modernist design and strong concrete and steel structure make it ideally suited for adaptive reuse. Its future lies in transformation, from an underutilized office tower into a dynamic residential or mixed-use destination. With a connected garage, convenient access to the new streetcar extension, and eligibility for historic tax credits, Penntower offers developers an exceptional opportunity to create Kansas City’s next premier address.
The property is largely vacated, with only a few short-term tenants remaining, making it prime for immediate redevelopment.
Property tours are available by appointment only. Please contact the broker to schedule.
Matterport 3D Tours
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Matterport 3D Exterior
Matterport 3D Tours
Photos
Street View
Street
Map
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Market Information
- Operating and Financials
- Third Party Reports
- Title and Insurance
- Miscellaneous
Market Analytics Click Here to Access
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Office
Building Size
217,492 SF
Building Class
B
Year Built
1974
Percent Leased
9%
Tenancy
Multiple
Building Height
13 Stories
Typical Floor Size
16,730 SF
Slab To Slab
12’
Building FAR
2.27
Lot Size
2.20 AC
Parcel Number
29-940-01-11-00-0-00-000
Zoning
B4-5 - Planned Commercial District
Parking
791 Spaces (3.64 Spaces per 1,000 SF Leased)
Amenities
- Conferencing Facility
- Fitness Center
- Food Service
- Property Manager on Site
Very walkable
80/100
Exceptionally drivable
100/100
Some public transit
50/100
Moderately bikeable
60/100
Demographics
Demographics
1 mile
3 mile
5 mile
2025 Population
15,926
123,857
282,930
2020 Population
13,783
109,895
260,771
2030 Population
16,598
128,557
291,778
2025-2030 Projected Population Growth
4.2%
3.8%
3.1%
Daytime Employees
22,984
170,311
236,621
Total Businesses
1,784
16,177
23,888
Average Household Income
$86,038
$82,440
$82,543
Median Household Income
$61,239
$59,637
$57,383
Total Consumer Spending
$222.6M
$1.5B
$3.1B
Median Age
35.1
35.7
35.8
2025 Households
9,097
61,963
123,303
Percent College Degree or Above
32%
25%
20%
Average Home Value
$409,021
$307,364
$300,483
$ values in USD
Sale Advisors
Sale Advisors
Gibson Kerr, Managing Director
Gib Kerr serves as the Managing Principal for Cushman & Wakefield’s Kansas City office.
In this role, Gib has oversight of over 100 professionals and all aspects of the firm’s business in the Kansas City market. His responsibilities include leading strategic growth and business development efforts, while overseeing the firm’s various service lines, including agency leasing, tenant representation, capital markets, asset services, valuation and advisory, and project and development services.
In addition to serving as Managing Principal, Gib leads the capital markets team in Kansas City specializing in investment property sales and urban development. Over the last ten years, Gib has brokered over $1 billion worth of new development projects in downtown Kansas City.
Kerr's notable sales in recent years in the Kansas City metro area include:
-Timberlands Office Building
-Penn National Building
-1414 Genessee
-Power & Light Building
-Berkley Riverfront Park Development Sites
-Corrigan Building
-Levitt Estate Auction: 10 historic redevelopment properties
-Argyle Building
-95 Metcalf Square
-City National Bank building at 1801 Grand
-Screenland Building
Prior to joining Cushman & Wakefield, Kerr served as managing principal of Sperry Van Ness in Kansas City and as vice president of Tower Properties. Previously, Kerr was a principal of Colliers Turley Martin/Kerr & Company where he specialized in the brokerage of land and office properties in Kansas City and as an asset manager for Wachovia Bank in North Carolina overseeing a national portfolio of office and industrial properties.
Kerr’s accomplishments include: honored by the Downtown Council of Kansas City as an "Urban Hero" in 2008; awarded the 2007 Commercial Realtor of the Year for Kansas City; earning the prestigious Certified Commercial Investment Member (CCIM) designation; being a founder and past president of the Downtowners, a leading civic group in Kansas City’s urban core; serving as president of the Commercial Division of the Kansas
City Regional Association of Realtors; and being a recipient of Ingram’s Business Magazine’s 40 Under 40 Award in 2000. He is also past chairman of the board for Children’s TLC, a leading provider of educational and therapeutic services to developmentally disabled children in Kansas City.
Kerr is a past president of the Kansas City chapter of the CCIM Institute and currently serves on the board of the Kansas City Regional Transit Alliance. He earned a Master of Business Administration with an emphasis in real estate and finance from the University of Virginia - Darden School of Business in Charlottesville, Virginia. He also obtained his Bachelor of Arts in European history and romance languages from Washington & Lee University in Lexington, Virginia.
In this role, Gib has oversight of over 100 professionals and all aspects of the firm’s business in the Kansas City market. His responsibilities include leading strategic growth and business development efforts, while overseeing the firm’s various service lines, including agency leasing, tenant representation, capital markets, asset services, valuation and advisory, and project and development services.
In addition to serving as Managing Principal, Gib leads the capital markets team in Kansas City specializing in investment property sales and urban development. Over the last ten years, Gib has brokered over $1 billion worth of new development projects in downtown Kansas City.
Kerr's notable sales in recent years in the Kansas City metro area include:
-Timberlands Office Building
-Penn National Building
-1414 Genessee
-Power & Light Building
-Berkley Riverfront Park Development Sites
-Corrigan Building
-Levitt Estate Auction: 10 historic redevelopment properties
-Argyle Building
-95 Metcalf Square
-City National Bank building at 1801 Grand
-Screenland Building
Prior to joining Cushman & Wakefield, Kerr served as managing principal of Sperry Van Ness in Kansas City and as vice president of Tower Properties. Previously, Kerr was a principal of Colliers Turley Martin/Kerr & Company where he specialized in the brokerage of land and office properties in Kansas City and as an asset manager for Wachovia Bank in North Carolina overseeing a national portfolio of office and industrial properties.
Kerr’s accomplishments include: honored by the Downtown Council of Kansas City as an "Urban Hero" in 2008; awarded the 2007 Commercial Realtor of the Year for Kansas City; earning the prestigious Certified Commercial Investment Member (CCIM) designation; being a founder and past president of the Downtowners, a leading civic group in Kansas City’s urban core; serving as president of the Commercial Division of the Kansas
City Regional Association of Realtors; and being a recipient of Ingram’s Business Magazine’s 40 Under 40 Award in 2000. He is also past chairman of the board for Children’s TLC, a leading provider of educational and therapeutic services to developmentally disabled children in Kansas City.
Kerr is a past president of the Kansas City chapter of the CCIM Institute and currently serves on the board of the Kansas City Regional Transit Alliance. He earned a Master of Business Administration with an emphasis in real estate and finance from the University of Virginia - Darden School of Business in Charlottesville, Virginia. He also obtained his Bachelor of Arts in European history and romance languages from Washington & Lee University in Lexington, Virginia.
Leonard Popplewell, Director
Leonard represents a select group of property owners and companies ranging from growing startups to Fortune 500 companies. Leonard specializes in office brokerage and urban development brokerage. He is high energy and diligent in handling leasing transactions on behalf of both tenants and landlords. Additionally, Leonard has significant experience in representing both sellers and buyers of urban development properties and land sites.
Leonard takes a creative approach to his role as a commercial real estate advisor and is focused on delivering results for his clients.
Prior to joining Cushman & Wakefield, Leonard was a Commercial Broker at Kessinger/Hunter and previous to that, he was a Business Development Executive at Cerner Corporation. Outside of commercial real estate, Leonard enjoys pickleball, running, reading history books, skiing, and working to improve his golf game (22 handicap).
Leonard takes a creative approach to his role as a commercial real estate advisor and is focused on delivering results for his clients.
Prior to joining Cushman & Wakefield, Leonard was a Commercial Broker at Kessinger/Hunter and previous to that, he was a Business Development Executive at Cerner Corporation. Outside of commercial real estate, Leonard enjoys pickleball, running, reading history books, skiing, and working to improve his golf game (22 handicap).
About the Auction Technology
Auctions by Ten-X are the #1 transaction technology powering commercial real estate transactions online. With over $34B in total transactions, these auctions use best-in-class technology and real-time asset intelligence to put listings in the best position to find the perfect buyer. The expedited auction timeline, comprehensive due diligence, and buyer qualification make transactions twice as fast and twice as certain for brokers, owners, and investors.
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Auction Contact
Kevin Loudy
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr 2016002032
1 of 25
Videos
Matterport 3D Exterior
Matterport 3D Tours
Photos
Street View
Street
Map
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000 USD
Maximum Transaction Fee
$300,000 USD
Example Calculation
Winning Bid Amount
$5,000,000 USD
Transaction Fee
$150,000 USD (3%)
Total Purchase Price
$5,150,000 USD
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The Penntower Office Center | 3100 Broadway St
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