Price Upon Req.9,000 SF
The subject is a 9,000-square-foot, one-story, medical office situated on .59 acres in zoning district K, unrestricted, and has a drive in door that would convert well for a contractor. The improvements were constructed in 1989 and the building was formerly occupied by Concentra Urgent Care. The property is located in a very dense part of St. Louis with over 218,000 people living within a 10 minute drive of the location giving it excellent access to a broad range of people. The subject is located on the west side of Third Street and the north side of Lafayette Avenue which provides average access and visibility from roadway frontage. The subject is in reasonable proximity to both employment centers and major roadways, as well as the Soulard neighborhood, which is experiencing average to above average levels of demand.
Subject property includes a 7,600sf freestanding, single tenant retail building on a .56 acre parcel located in downtown St. Louis. Asset is currently occupied by Advance Auto Parts, the largest automotive retailer in the country. The investment is secured by a 20yr net lease, which currently has 1.5 years remaining on the initial fixed term followed by two 5-year extension options with 12% and 11% rent increases respectively. The lease is a NN lease with landlords only maintenance responsibility being the roof, structure and power lines; the roof was replaced in 2014 and has a 10 year warranty. The current in place rent of $8.07/sf is significantly below market providing a tremendous future value add opportunity. The property has tremendous visibility along one of the dominant thoroughfares in St. Louis and affords an owner the rare opportunity to acquire an extremely low priced, passive net leased investment in a major metro downtown location with the security of a lease guaranteed by a best in class tenant.
Freestanding building currently occupied by Toys R Us. Available 2nd Quarter 2015 for sale or lease. Neighboring tenants include Wal-Mart, Sam's Club, Big Lots, Shoe Carnival & Harbor Freight Tools.
Investor Special. 3 Bedroom 1 Bath Fixer Upper Home. Sold in "as-is" condition. Call for more details.
Investor Special. 2 Bedroom 1 Bath Fixer Upper Home. Sold in "as-is" condition. Call for more details.
Investor Special. 2 Bedroom 2 Bath Fixer Upper Home. Sold in "as-is" condition. Call for more details.
Investor Special. 1 Bedroom 1 Bath Fixer Upper Home. Sold in "as-is" condition. Call for more details.
.51 acres (160 x `140) 960 sq. ft. bldg.
The subject offering is a fee simple interest in an absolute NNN leased Walgreens. There are 12 years remaining on the lease, with zero landlord obligations. The tenant exercised early renewal signifying commitment to this location. The tenant has eight 5 year options to renew. This Walgreens is an excellent performing location $4,000,000 in annual reported sales.