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True NNN Lease- Downtown St. Louis Sav A Lot

15,985 SF Retail Building Saint Louis, MO 63113 $4,805,000 ($301/SF) 6.55% Cap Rate

Investment Highlights

  • Newer Long Term 15 Yr. True NNN Corp. Lease (Fee) by Sav a Lot (Moran Foods) - Huge COVID Sales Growth
  • St. Louis MSA is 20th Largest in Nation along the Mississippi River - Huge Growth & Tourism (25M+)
  • Hard Corner Neighborhood Location - Synergistic Demo’s and Huge Retail Demand - Zero LL Duties
  • Rare 5% Rent Bumps Every 5 Years for Single Tenant Grocery Asset - 2019 Modern Prototype Bldg.
  • Strong Lease Guarantee - Subsidiary Brand of Onex Capital (Private Equity Firm) - $39B+ in Assets

Executive Summary

We are pleased to offer to qualified investors an opportunity to purchase fee simple, an absolute NNN leased investment occupied by Save-A-Lot grocer on a new 15 year lease just outside Downtown St. Louis, MO. This brand new 2019 construction, is located on a highly trafficked intersection seeing over 36,000 VPD, and is ideally positioned to take advantage of the dense residential infill surrounding the subject property as well as benefit from the areas high retail demand. This is an excellent opportunity to purchase a corporate signed absolute NNN lease, located just outside one of the largest cities in the U.S.,
surrounded by dense residential infill ideal for the tenant’s use, on a brand new 15 year lease with zero landlord responsibilities.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
15,985 SF
Building Class
B
Year Built
2019
Price
$4,805,000
Price Per SF
$301
Cap Rate
6.55%
NOI
$314,916
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Land Acres
1.80 AC
Opportunity Zone
Yes
Zoning
F
Parking
81 Spaces (5.07 Spaces per 1,000 SF Leased)
Frontage
405 FT on Union Boulevard

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease Type
  • Lease End
  • Retailer
  • 15,985 SF
  • $19.70
  • Triple Net
  • Jan 2035

Save A Lot is one of the country’s largest discount grocers. When clients shop with them, they’ll find quality fresh produce at everyday low prices, fresh meat that is cut in-store, and their award-winning exclusive brands that will save their customers more. They also offer a variety of their customers' favorite National Brands. They’ll worry about keeping costs low so customers can focus on the best ways to use their money. They are proud to save customers money on their groceries every day of the week. They have high-quality products, including both national and their own brand names at affordable prices. Their select assortment of approximately 1,800 products give you what you buy most, reducing the need for space and eliminating slow moving products from their distribution. This allows them to pass the savings on to you!

Tenant Industry SF OCCUPIED RENT/SF Lease Type Lease End
Retailer 15,985 SF $19.70 Triple Net Jan 2035

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • 3800-00-0022-0
  • 3800-00-0023-0
Land Assessment
$70,100
Improvements Assessment
$350,800
Total Assessment
$420,900
  • Listing ID: 22649256

  • Date on Market: 4/5/2021

  • Last Updated:

  • Address: Sav A Lot, Saint Louis, MO 63113

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