Value-Add Retail Center | Anchor Opportunity 14100-14104 Redfield Dr 32,000 SF 77% Leased Retail Building Online Auction Sale Eugene, MO 65032
INVESTMENT HIGHLIGHTS
- Unmatched opportunity to transform a partially occupied retail center into a high-performing asset by leasing spaces at market rates.
- Eugene has strong retail demand with few existing options, offering a prime opportunity to capture an underserved market.
- Adjacent retailers include Dollar General, Subway, Community Point Bank, and Elm Mexican Restaurant.
- Prime positioning in the small town of Eugene just off US Highway 54, a major connector to nearby towns Jefferson City and Eldon.
- Eugene is an established community with 90% owner-occupied households within a 5-mile radius of 14100 Redfield Drive.
EXECUTIVE SUMMARY
14100 Redfield Drive offers investors and owners an exceptional opportunity to help grow the Eugene, Missouri, retail landscape. The sizable center, ringing in at 32,000 square feet, is delivered partially occupied, allowing new ownership to make its mark. Built in 2004, the property is a simple brick construction building, allowing for a low-maintenance investment. Presently, there is a small stream of income from a few tenants in the center. The offering presents significant upside potential with an approximately 20,000-square-foot former grocery store and a 7,000-square-foot in-line retail space available for immediate lease-up. Other tenants on-site include Trendz Hair Studio, Off The Hook Outdoors, and Mid America Bank.
Buyers have excellent optionality moving forward with this asset. There is value-add potential on-site by leasing the vacancies at market rates. Investors can boost rental income and overall property value by adding major tenants and filling gaps in the local community. The property can also be repurposed to attract a wide range of tenants and potential different users such as office, medical, or community spaces. There is potential to add value via improvements and successful leasing to increase equity through appreciation.
Situated along the Missouri River in the central part of the state, Jefferson City serves as the capital of Missouri and the seat of Cole County. Founded in the early 19th century, the city has evolved from its origins as a political and commercial hub into a diverse community with a stable economy driven by government, education, healthcare, and manufacturing sectors. Lake of the Ozarks, located in central Missouri, is a vast man-made reservoir created by the construction of the Bagnell Dam on the Osage River in 1931. Known for its distinctive serpentine shape, the lake stretches over 54,000 acres with more than 1,100 miles of shoreline. Popularly called The Magic Dragon due to its winding form, Lake of the Ozarks is a major recreational hub, attracting visitors for boating, fishing, swimming, and water sports. It also features state parks, golf courses, resorts, and a variety of dining and entertainment venues, making it a prominent Midwest vacation destination. Jefferson City is accessible via US Route 50, US Route 63, and Interstate 70, with the Columbia Regional Airport located approximately 20 miles to the north. The city is served by the Jefferson City Public Schools, Helias Catholic High School, and Lincoln University. Healthcare facilities like the Capital Region Medical Center contribute to the local economy, providing jobs and essential services, while the city’s historical landmarks, including the Missouri State Capitol and Governor’s Mansion, as well as nearby outdoor attractions, draw both residents and visitors.
Property tours are available by appointment only. Please contact the listing broker to schedule.
Buyers have excellent optionality moving forward with this asset. There is value-add potential on-site by leasing the vacancies at market rates. Investors can boost rental income and overall property value by adding major tenants and filling gaps in the local community. The property can also be repurposed to attract a wide range of tenants and potential different users such as office, medical, or community spaces. There is potential to add value via improvements and successful leasing to increase equity through appreciation.
Situated along the Missouri River in the central part of the state, Jefferson City serves as the capital of Missouri and the seat of Cole County. Founded in the early 19th century, the city has evolved from its origins as a political and commercial hub into a diverse community with a stable economy driven by government, education, healthcare, and manufacturing sectors. Lake of the Ozarks, located in central Missouri, is a vast man-made reservoir created by the construction of the Bagnell Dam on the Osage River in 1931. Known for its distinctive serpentine shape, the lake stretches over 54,000 acres with more than 1,100 miles of shoreline. Popularly called The Magic Dragon due to its winding form, Lake of the Ozarks is a major recreational hub, attracting visitors for boating, fishing, swimming, and water sports. It also features state parks, golf courses, resorts, and a variety of dining and entertainment venues, making it a prominent Midwest vacation destination. Jefferson City is accessible via US Route 50, US Route 63, and Interstate 70, with the Columbia Regional Airport located approximately 20 miles to the north. The city is served by the Jefferson City Public Schools, Helias Catholic High School, and Lincoln University. Healthcare facilities like the Capital Region Medical Center contribute to the local economy, providing jobs and essential services, while the city’s historical landmarks, including the Missouri State Capitol and Governor’s Mansion, as well as nearby outdoor attractions, draw both residents and visitors.
Property tours are available by appointment only. Please contact the listing broker to schedule.
OFFERING MEMORANDUM Click Here to Access
DATA ROOM Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Title and Insurance
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Retail
Property Subtype
Storefront
Building Size
32,000 SF
Building Class
B
Year Built
2004
Percent Leased
77%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.21
Lot Size
3.48 AC
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
147
966
2,349
2020 Population
158
1,019
2,482
2029 Population
144
958
2,345
2024-2029 Projected Population Growth
-2.0%
-0.8%
-0.2%
Daytime Employees
379
434
503
Total Businesses
20
31
47
Average Household Income
$92,972
$74,589
$78,182
Median Household Income
$72,499
$63,928
$64,776
Total Consumer Spending
$2M
$12M
$29.8M
Median Age
41.8
41.7
41.8
2024 Households
54
353
865
Percent College Degree or Above
19%
16%
15%
Average Home Value
$253,542
$231,813
$225,350
$ values in USD
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £80,689 | |
| Land Assessment | £0 | Total Assessment | £80,689 |
SALE ADVISOR
SALE ADVISOR
Josh Miller, Vice President, Investment Advisory Services
(586) 202-2340
Contact
Josh Miller is a member of the Investment Advisory Services team at Friedman Real Estate, actively participating in the acquisition and disposition of assets nationwide. With over a decade of experience, Josh has been involved in the sales of retail centers, office buildings, and industrial properties.
Having facilitated transactions from New York to California, Josh has built a comprehensive database comprising the most engaged participants in the market nationwide. The diverse network spans from premier private equity firms, institutional funds, high net worth family offices, all the way down to local market investors.
Initially specializing exclusively in retail, Josh has evolved into a seasoned professional adept at facilitating the sale of various retail formats, including strip centers, neighborhood centers, community centers, regional malls, and net-leased retail.
Following the pandemic and leveraging years of experience in value-add auction retail sales, Josh identified an opportunity to venture into the significantly affected office market. As property owners sought solutions in the era of remote work, Josh swiftly emerged as a prominent specialist in value-add, vacant, and distressed office buildings.
Presently, Josh dedicates his time to advising clients involved in both retail and office assets, navigating the complexities of today’s dynamic real estate market.
Josh attended Oakland University in Rochester, Michigan. Graduating with academic honors, he earned a Bachelor of Science in Finance from OU. His studies included Real Estate Investment, Investment Analysis, and Statistical Methods for Business.
Outside of his professional commitments, Josh values moments with his family and finds pleasure in outdoor activities.
Having facilitated transactions from New York to California, Josh has built a comprehensive database comprising the most engaged participants in the market nationwide. The diverse network spans from premier private equity firms, institutional funds, high net worth family offices, all the way down to local market investors.
Initially specializing exclusively in retail, Josh has evolved into a seasoned professional adept at facilitating the sale of various retail formats, including strip centers, neighborhood centers, community centers, regional malls, and net-leased retail.
Following the pandemic and leveraging years of experience in value-add auction retail sales, Josh identified an opportunity to venture into the significantly affected office market. As property owners sought solutions in the era of remote work, Josh swiftly emerged as a prominent specialist in value-add, vacant, and distressed office buildings.
Presently, Josh dedicates his time to advising clients involved in both retail and office assets, navigating the complexities of today’s dynamic real estate market.
Josh attended Oakland University in Rochester, Michigan. Graduating with academic honors, he earned a Bachelor of Science in Finance from OU. His studies included Real Estate Investment, Investment Analysis, and Statistical Methods for Business.
Outside of his professional commitments, Josh values moments with his family and finds pleasure in outdoor activities.
ABOUT THE AUCTION PLATFORM
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial property. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
AUCTION CONTACT
Victoria Quade
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr 2016002032
