Walgreens | 1 Grasso Plz
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Walgreens 1 Grasso Plz
14,820 SF Retail Building Affton, MO 63123 $6,718,097 CAD ($453 CAD/SF) 8.50% Cap Rate
Investment Highlights
- Walgreens reports above average sales of ±$3.76 million at this location.
- Lutheran High School is undergoing a $18 million renovation which includes adding a 622-seat performing arts theater.
- Walgreens is on an absolute net lease with no landlord responsibilities whatsoever.
- There are over 264,000 residents within 5 miles, supporting an average household income of $94,000.
- Walgreens hours of operation for this location are from 8 A.M. until 12 A.M.
Executive Summary
We are pleased to market for sale the Walgreens property located at 1 Grasso Plaza in Affton, Missouri ("The Property"). Walgreens has been operating at this location for 20 years and has over 4 and a half years of firm term remaining on an absolute net lease with no landlord responsibilities whatsoever.
The Property is located 11 miles from downtown St. Louis and has over 264,000 residents within 5 miles, supporting an average household income of $94,000. The Property benefits from the strong customer base, operating as a midnight store and reporting above average sales.
Outparceled to the Grasso Plaza, The Property is immediately surrounded by over 71,000 square feet of retail space, anchored by Saint Louis Bread, Dollar General and USPS. Adjacent to The Property, Lutheran High School is currently undergoing a $18 million renovation, adding a 39,000 square foot event center and performing arts theater.
Listed in conjunction with Brian Brockman, Bang Realty, 513-898-1551, wg@bangrealty.com, MO DRE Lic. 2017032771.
The Property is located 11 miles from downtown St. Louis and has over 264,000 residents within 5 miles, supporting an average household income of $94,000. The Property benefits from the strong customer base, operating as a midnight store and reporting above average sales.
Outparceled to the Grasso Plaza, The Property is immediately surrounded by over 71,000 square feet of retail space, anchored by Saint Louis Bread, Dollar General and USPS. Adjacent to The Property, Lutheran High School is currently undergoing a $18 million renovation, adding a 39,000 square foot event center and performing arts theater.
Listed in conjunction with Brian Brockman, Bang Realty, 513-898-1551, wg@bangrealty.com, MO DRE Lic. 2017032771.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,820 SF
Building Class
B
Year Built
2004
Price
$6,718,097 CAD
Price Per SF
$453 CAD
Cap Rate
8.50%
NOI
$571,038 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
1.69 AC
Zoning
C3
Parking
71 Spaces (4.79 Spaces per 1,000 SF Leased)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 26K-64-0466 | Improvements Assessment | $809,929 CAD |
| Land Assessment | $401,985 CAD | Total Assessment | $1,211,914 CAD |
PROPERTY TAXES
Parcel Number
26K-64-0466
Land Assessment
$401,985 CAD
Improvements Assessment
$809,929 CAD
Total Assessment
$1,211,914 CAD
(619) 297-0055
x302
Contacts
-
Jason Pongsrikul -
Chris Barry -
Pharma Property Group- Drugstore Specialists
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Walgreens | 1 Grasso Plz
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