Walgreens | 1 Grasso Plz
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Walgreens 1 Grasso Plz
14,820 SF Retail Building Affton, MO 63123 $4,724,400 ($319/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
$4,724,400
Price Per SF
$319
Cap Rate
8.50%
NOI
$401,574
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 | $569,570 |
| Land Assessment | $282,690 | Total Assessment | $852,260 |
PROPERTY TAXES
Parcel Number
26K-64-0466
Land Assessment
$282,690
Improvements Assessment
$569,570
Total Assessment
$852,260
(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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