Retail Space Near Major
For Sale
Contact for pricing
3162 Phoenix Center Dr, Washington, MO 63090
Retail property for sale, adjacent to major retailers.
Property Size40,000 SF
Price / SF$174.38
Days on Market153
Property Features for 3162 Phoenix Center Dr
General Information
Standard status
Active
Size
40,000 SF
Total Parking Spaces
213
Property subtype
Retail
Zoning
C2
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$488,166
Building Details
Year Built
2005
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
CBRE - Oak Brook
Listed By:
Michael Kaider · License #IL 475154630
Source:
Crexi
Added: Mar 18
Changed: Aug 8
Last Checked: Aug 16 at 6:33PM
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 CBRE - Oak Brook
Investment Insights
Based on property information with market context.
This retail property offers 40,000 square feet of space. The property is located adjacent to ALDI, Target, Five Below, and ULTA. The property has undergone a recent extension.
Key Highlights
- Recent extension
- Adjacent to ALDI, Target, Five Below, ULTA & More
- Built in 2005
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
$376,609
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
5.40%
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%
$7,532,180
$7.5M
Cap Rate 7%
$5,380,129
$5.4M
Cap Rate 9%
$4,184,544
$4.2M
Market Conditions
NOI Build-Up for 40,000 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
$561.6K $14.04/SF
− Vacancy
−$23.6K −$0.59/SF
EGI
$538.0K $13.45/SF
− OpEx
−$161.4K −$4.04/SF
NOI
$376.6K $9.42/SF
Area
Franklin County, MO
Vacancy
4.20%
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%
$7,532,180
Cap Rate 7%
$5,380,129
Cap Rate 9%
$4,184,544
Alternative Uses
Best Use
Retail
$5.38M
$4.71M – $6.28M
NOI $376,609 @ 7.0% cap · market cap 5.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.78M
$10.30M – $13.74M
NOI $824,325 @ 7.0% cap · market cap 11.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
158
Businesses Nearby
341k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 35%
Shops & Services 25%
Superstores 20%
Dining 10%
Target
Superstores
67,370 visits/mo
0.3 miles
Marshalls
Apparel
36,070 visits/mo
0.1 miles
Kohl's
Apparel
29,361 visits/mo
0.2 miles
Aldi
Groceries
24,137 visits/mo
0.1 miles
DICK'S Sporting Goods
Apparel
21,447 visits/mo
0.1 miles
Demographics for 63090, MO
22,843
Population
9,745
Households
2.3
Avg Household Size
43
Median Age
33%
College-Educated
94%
High-School Grad
81.5 sq mi
ZIP Area
280
Density / Sq Mi
$83,966
Median Household Income
$46,556
Median Earnings
$873
Median Rent
$260,700
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 property - Retail property for sale, adjacent to major retailers.
Where is this retail property located?
The property is located at 3162 Phoenix Center Dr Washington, MO.
What is the asking price?
The asking price for this property is $6,975,000.
What are key features of this property?
This property features: Recent extension; Adjacent to ALDI, Target, Five Below, ULTA & More; Built in 2005
