Denny’s Retail
For Sale
Contact for pricing
1 MERLIN DR, Troy, MO 63379
The offering features an absolute-net lease structure and a 1999-built property.
Property Size4,698 SF
Price / SF$322.51
Days on Market9
Property Features for 1 MERLIN DR
General Information
Standard status
Active
Size
4,698 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Net Operating Income
$125,000
Building Details
Year Built
1999
Year Renovated
2015
Buildings
1
Units
1
Tenancy
Single
Listing Agency:
Marcus & Millichap - Austin
(512) 338-7872
Listed By:
Douglas Diffie · License #TX 656858
Source:
Crexi
Added: Aug 11
Changed: Aug 18
Last Checked: Aug 18 at 8:49AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Austin
Investment Insights
Based on property information with market context.
Denny’s retail property at 1 Merlin Dr in Troy, Missouri, was built in 1999. The offering is presented with an absolute-net lease structure, providing a defined framework for the sale of this established commercial asset.
Key Highlights
- Denny’s retail property at 1 Merlin Dr, Troy, MO
- Absolute‑net lease structure
- Built in 1999
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$44,325
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.93%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$886,500
$886.5K
Cap Rate 7%
$633,214
$633.2K
Cap Rate 9%
$492,500
$492.5K
Market Conditions
NOI Build-Up for 4,698 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$66.0K $14.04/SF
− Vacancy
−$2.6K −$0.56/SF
EGI
$63.3K $13.48/SF
− OpEx
−$19.0K −$4.04/SF
NOI
$44.3K $9.43/SF
Area
Lincoln County, MO
Vacancy
4.00%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$886,500
Cap Rate 7%
$633,214
Cap Rate 9%
$492,500
Alternative Uses
Best Use
Retail
$633.2K
$554.1K – $738.8K
NOI $44,325 @ 7.0% cap · market cap 2.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.16M
$1.02M – $1.36M
NOI $81,329 @ 7.0% cap · market cap 5.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
706
Businesses Nearby
231k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 46%
Shops & Services 27%
Groceries 12%
Home Improvements & Furnishings 11%
McDonald's
Dining
31,081 visits/mo
0.2 miles
Troy #3
Shops & Services
28,011 visits/mo
0.1 miles
Kroger
Groceries
27,598 visits/mo
0.5 miles
Taco Bell
Dining
15,625 visits/mo
0.1 miles
Tractor Supply Co.
Home Improvements & Furnishings
12,808 visits/mo
0.3 miles
Demographics for 63379, MO
26,583
Population
10,464
Households
2.5
Avg Household Size
38
Median Age
21%
College-Educated
94%
High-School Grad
135.9 sq mi
ZIP Area
196
Density / Sq Mi
$86,844
Median Household Income
$47,088
Median Earnings
$976
Median Rent
$238,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - The offering features an absolute-net lease structure and a 1999-built property.
Where is this retail space located?
The property is located at 1 MERLIN DR Troy, MO.
What is the asking price?
The asking price for this property is $1,515,152.
What are key features of this property?
This property features: Denny’s retail property at 1 Merlin Dr, Troy, MO; Absolute‑net lease structure; Built in 1999
