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Aldi and Ace Hardware 1144 Meramec Station Rd

51,450 SF 100% Leased Retail Building Ballwin, MO 63021 $5,492,693 ($107/SF) 7.50% Cap Rate

Investment Highlights

  • Aldi signed an initial 15 year lease term and Ace signed a 10 year lease, providing for long-term passive cash flow.
  • 5.8 acre parcel with 269 parking spaces.
  • The property was recently renovated, featuring an updated facade and parking lot improvements.
  • There are 64,000 residents earning an average household income of $126,000 within three miles of the site.

Executive Summary

100% occupied shopping center
anchored by Aldi and Ace Hardware, which are both corporate leases
and comprise 2/3 of the income.

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Supermarket
Building Size
51,450 SF
Building Class
B
Year Built
2007
Price
$5,492,693
Price Per SF
$107
Cap Rate
7.50%
NOI
$411,952
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.20
Lot Size
5.79 AC
Zoning
55RSING
Parking
279 Spaces (5.42 Spaces per 1,000 SF Leased)
Frontage
550 FT on Meramec Station Rd

Amenities

  • Pylon Sign

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease Type
  • Lease End
  • Retailer
  • -
  • -
  • Triple Net
  • Sep 2034

Ace Hardware is customers' local hardware store and they are a part of their community. Ace Hardware has thousands of stores around the world with the majority of those stores independently owned and operated by local entrepreneurs. These hard working men and women are part of the fabric of their community. They are small business owners who are local and loyal... just like it ought to be. While others have become large and impersonal, at Ace, they've remained small and very personal. That's why they say a visit to Ace, is like a visit to their neighbor. Ace stores come in all sizes and shapes based on the needs of each individual neighborhood. They have small, urban stores, large rural stores and everything in between. Ace stores offer a wide variety of paint, lawn and garden, tools, local niche services and virtually anything customers will ever need to fix, repair and maintain their home.

  • Retailer
  • -
  • -
  • Triple Net
  • Sep 2037

Aldi was founded in 1946 by brothers Karl and Theo Albrecht as a small shop in a German suburb. The name was originally "Albrecht Discount", but was shortened to ALDI in 1962. They hand-select and curate high-quality products for people and their family that meet or exceed the national brands in taste, quality and, of course, price. They also partner with a wide variety of local farmers to offer an array of fresh, in-season produce including organic fruits and vegetables. From USDA Choice meats to gluten-free and organic foods, they are committed to bringing them the highest quality products at considerably lower prices than other grocery stores.

  • Retailer
  • -
  • $13.30
  • Triple Net
  • Mar 2034
Tenant Industry SF OCCUPIED RENT/SF Lease Type Lease End
Retailer - - Triple Net Sep 2034
Retailer - - Triple Net Sep 2037
Retailer - $13.30 Triple Net Mar 2034

Nearby Major Retailers

Schnucks
U.S. Bank
Curves
Commerce Bank
Regions Bank
Freddy's
Jazzercise

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
24Q-32-0573
Land Assessment
$535,520
Improvements Assessment
$349,280
Total Assessment
$884,800
  • Listing ID: 31456276

  • Date on Market: 4/9/2024

  • Last Updated:

  • Address: 1144 Meramec Station Rd, Ballwin, MO 63021

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