Listing Agency: Cornerstone Commercial Realty, Inc. Show Phone

Listed By: Rob Salvino Show Phone

Source: Moodyscre

Added: Oct 28 Changed: Oct 31 Last Checked: Nov 1 at 7:50AM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 5,517-square-foot retail property was formerly occupied by Hooters and includes two pylon signs. The space is being offered for sale after more than 30 years of prior availability history.

Located at 11835 Lackland Rd in St. Louis, the property is less than 1 mile from I-270 near Page Ave. Offices, hotels, retail businesses, and housing surround the site.

Key Highlights

• 5,517‑square‑foot former Hooters restaurant
• Two pylon signs
• Less than 1 mile to I‑270 near Page Ave.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$74,216

Cap Rate

5.94%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,484,320 $1.5M

Cap Rate 7%

$1,060,229 $1.1M

Cap Rate 9%

$824,622 $824.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,517 SF

Gross rent

$123.1K $22.32/SF

− Vacancy

−$17.1K −$3.10/SF

EGI

$106.0K $19.22/SF

− OpEx

−$31.8K −$5.77/SF

NOI

$74.2K $13.45/SF

Area

St. Louis County, MO

Vacancy

13.90%

Lease Rate

$22.32 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,484,320

Cap Rate 7%

$1,060,229

Cap Rate 9%

$824,622

Alternative Uses

Best Use

Retail

$1.06M

$927.7K – $1.24M (±1% cap)

NOI $74,216 @ 7.0% cap · market cap 5.94%

Second Best

Specialty Retail

$338.7K

$296.4K – $395.2K (±1% cap)

NOI $23,709 @ 7.0% cap · market cap 1.90%

Theoretical Best

Office A

$1.18M

$1.04M – $1.38M (±1% cap)

NOI $82,883 @ 7.0% cap · market cap 6.63%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Retail space

Suggested Use

Top Pick Hair Salon Nail Salon Storage Facility Grocery & Convenience Store Garden Center Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

1,860

Businesses Nearby

78k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 40% Dining 30% Hotels & Casinos 28% Home Improvements & Furnishings 2%

McDonald's Dining

17,658 visits/mo 0.3 miles

Circle K Shops & Services

16,362 visits/mo 0.3 miles

7-Eleven Shops & Services

6,844 visits/mo 0.5 miles

Sheraton Hotels & Resorts Hotels & Casinos

5,723 visits/mo 0.5 miles

Hooters Dining

5,398 visits/mo 0.1 miles

Demographics for 63146, MO

31,459

Population

15,555

Households

2

Avg Household Size

40

Median Age

62%

College-Educated

97%

High-School Grad

15.5 sq mi

ZIP Area

2,030

Density / Sq Mi

$85,724

Median Household Income

$60,831

Median Earnings

$1,315

Median Rent

$283,600

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Retail space - The former restaurant is less than a mile from I-270 near Page Avenue.

Where is this retail space located?

The property is located at 11835 Lackland Rd Saint Louis, MO.

What is the asking price?

The asking price for this property is $1,250,000.

What are key features of this property?

This property features: 5,517‑square‑foot former Hooters restaurant; Two pylon signs; Less than 1 mile to I‑270 near Page Ave.