New Save-A-Lot Grocery
For Sale
Contact for pricing
1301 Union Blvd St., Saint Louis, MO 63113
NNN leased investment opportunity near Downtown St. Louis, MO.
Property Size15,985 SF
Price / SF$300.59
Days on Market1973
Property Features for 1301 Union Blvd St.
General Information
Standard status
Active
Size
15,985 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$314,916
Building Details
Tenancy
Single
Listing Agency:
Colliers - Los Angeles - Orange County, California
(949) 724-5561
Listed By:
Eric Carlton · License #CA 01809955
Source:
Crexi
Added: Apr 6, 2021
Changed: Aug 8
Last Checked: Aug 29 at 4:14AM
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 Colliers - Los Angeles - Orange County, California
Investment Insights
Based on property information with market context.
This is an opportunity to purchase a fee simple, absolute NNN leased investment occupied by a Save-A-Lot grocer. The property is under a new 15-year lease and is located just outside Downtown St. Louis, MO. Constructed in 2019, the property is positioned on a highly trafficked intersection with over 36,000 vehicles per day. The location is designed to benefit from the surrounding dense residential area and high retail demand. The corporate-signed absolute NNN lease offers zero landlord responsibilities. The property is suitable for the tenant's use due to its location outside one of the largest cities in the U.S. and its proximity to a dense residential area. The property size is 15985 square feet.
Key Highlights
- Absolute NNN Lease: Corporate signed lease means zero landlord responsibilities.
- New 15‑Year Lease: Enjoy long‑term, stable income.
- New 2019 Construction: Minimizes potential maintenance costs.
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
$215,034
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
4.48%
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%
$4,300,680
$4.3M
Cap Rate 7%
$3,071,914
$3.1M
Cap Rate 9%
$2,389,267
$2.4M
Market Conditions
NOI Build-Up for 15,985 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
$356.8K $22.32/SF
− Vacancy
−$49.6K −$3.10/SF
EGI
$307.2K $19.22/SF
− OpEx
−$92.2K −$5.77/SF
NOI
$215.0K $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 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%
$4,300,680
Cap Rate 7%
$3,071,914
Cap Rate 9%
$2,389,267
Alternative Uses
Best Use
Retail
$3.07M
$2.69M – $3.58M
NOI $215,034 @ 7.0% cap · market cap 4.48%
Second Best
Specialty Retail
$981.4K
$858.7K – $1.14M
NOI $68,696 @ 7.0% cap · market cap 1.43%
Theoretical Best
Office A
$3.43M
$3.00M – $4.00M
NOI $240,146 @ 7.0% cap · market cap 5.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
692
Businesses Nearby
2k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Mobil
Shops & Services
1,615 visits/mo
0.3 miles
Demographics for 63113, MO
10,882
Population
7,400
Households
1.5
Avg Household Size
41
Median Age
17%
College-Educated
84%
High-School Grad
2.6 sq mi
ZIP Area
4,185
Density / Sq Mi
$38,647
Median Household Income
$29,648
Median Earnings
$914
Median Rent
$75,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Martin's Market — 4324 W Dr Martin Luther King Dr, St. Louis, MO 63113
- Newstead Supermarket & Grill — 2921 N Newstead Ave, St. Louis, MO 63115
- Euclid market — 2318 N Euclid Ave, St. Louis, MO 63113
- M&A Market — 4321 Natural Bridge Ave, St. Louis, MO 63115
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - NNN leased investment opportunity near Downtown St. Louis, MO.
Where is this grocery and convenience store located?
The property is located at 1301 Union Blvd St. Saint Louis, MO.
What is the asking price?
The asking price for this property is $4,805,000.
What are key features of this property?
This property features: Absolute NNN Lease: Corporate signed lease means zero landlord responsibilities.; New 15‑Year Lease: Enjoy long‑term, stable income.; New 2019 Construction: Minimizes potential maintenance costs.
