Consumer Cellular - St Louis MSA | 2893 Veterans Memorial Pky
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Consumer Cellular - St Louis MSA 2893 Veterans Memorial Pky
5,159 SF Retail Building Saint Charles, MO 63303 $2,078,800 ($403/SF) 6.50% Cap Rate
Investment Highlights
- PASSIVE NNN INVESTMENT: 6+ years remaining on a new corporate lease, with minimal landlord responsibilities and roof warranty in place until 2028
- STRATEGICALLY LOCATED RETAIL AREA: Well located outparcel to a highly trafficked Walmart Super Center and Sam’s Club anchored shopping center
- DENSE AND AFFLUENT SUBURBAN NEIGHBORHOOD: St Charles is just 30 minutes outside of downtown St. Louis with strong demos
- MAJOR PROPERTY RENOVATIONS: Recent 2023 tenant improvements include new windows, slab/foundation work, new unit heater, and more
- RAPIDLY EXPANDING TENANT: Consumer Cellular has been consistently listed as one of America’s fastest growing private companies since 2007
Executive Summary
CONSUMER CELLULAR
Founded in Portland, Oregon in 1995, Consumer Cellular is a top-rated wireless carrier providing affordable, no-contract cellphones and service plans primarily to the 50+ demographic. With a current subscriber base of over four million customers, the company utilizes the nation’s largest voice and data networks, reaching 99 percent of the U.S. population. Noted for providing a superb customer experience, Consumer Cellular has been ranked by J.D. Power as “#1 in Customer Service among Wireless Value MVNOs, 16 Times in a Row,” making Consumer Cellular the “Most Awarded Brand for Wireless Customer Support among Value MVNOs.” It has also been an AARP provider for over 15 years, offering AARP members exclusive discounts on monthly service.
ST LOUIS MSA
Known for its iconic Gateway Arch, the St. Louis metro is situated near the geographic center of the United States, within 500 miles of one-third of the U.S. population, and it has nearly 2.8 million residents. St. Louis is highly ranked for its logistics infrastructure, bolstered by its central location and easy access to major waterways. It is a significant inland port. The region is emerging as a large financial services center, with seven Fortune 500 companies headquartered there: Centene Corp., Emerson Electric, Reinsurance Group of America, Jones Financial, Olin, Ameren and Graybar Electric.
The metro is expected to see population growth over the next five years, supporting steady household formation with an approximate 20,400 additions. There are more than 40 colleges, universities and technical schools in the metro, enrolling around 200,000 students a year.
Founded in Portland, Oregon in 1995, Consumer Cellular is a top-rated wireless carrier providing affordable, no-contract cellphones and service plans primarily to the 50+ demographic. With a current subscriber base of over four million customers, the company utilizes the nation’s largest voice and data networks, reaching 99 percent of the U.S. population. Noted for providing a superb customer experience, Consumer Cellular has been ranked by J.D. Power as “#1 in Customer Service among Wireless Value MVNOs, 16 Times in a Row,” making Consumer Cellular the “Most Awarded Brand for Wireless Customer Support among Value MVNOs.” It has also been an AARP provider for over 15 years, offering AARP members exclusive discounts on monthly service.
ST LOUIS MSA
Known for its iconic Gateway Arch, the St. Louis metro is situated near the geographic center of the United States, within 500 miles of one-third of the U.S. population, and it has nearly 2.8 million residents. St. Louis is highly ranked for its logistics infrastructure, bolstered by its central location and easy access to major waterways. It is a significant inland port. The region is emerging as a large financial services center, with seven Fortune 500 companies headquartered there: Centene Corp., Emerson Electric, Reinsurance Group of America, Jones Financial, Olin, Ameren and Graybar Electric.
The metro is expected to see population growth over the next five years, supporting steady household formation with an approximate 20,400 additions. There are more than 40 colleges, universities and technical schools in the metro, enrolling around 200,000 students a year.
Property Facts Under Contract
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
5,159 SF
Building Class
B
Year Built/Renovated
1993/2023
Price
$2,078,800
Price Per SF
$403
Cap Rate
6.50%
NOI
$135,122
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Land Acres
1.19 AC
Zoning
C-2 - General Business District
Parking
67 Spaces (12.99 Spaces per 1,000 SF Leased)
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Consumer Cellular
- Retailer
- 5,159 SF
- -
- Triple Net
- Jan 2031
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Consumer Cellular | Retailer | 5,159 SF | - | Triple Net | Jan 2031 |
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 6-010D-6971-00-002C.0000000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $387,025 |
PROPERTY TAXES
Parcel Number
6-010D-6971-00-002C.0000000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$387,025
-
Lior Regenstreif -
NNN Investment Group of Marcus & Millichap
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Consumer Cellular - St Louis MSA | 2893 Veterans Memorial Pky
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