Chesterfield Walgreens NNN Investment
For Sale
Contact for pricing
917 Chesterfield Pkwy E, Chesterfield, MO 63017
Net leased Walgreens in Chesterfield Village near high-traffic area.
Property Size14,145 SF
Lot Size2.08 Acres
Price / SF$410.49
Days on Market386
Property Features for 917 Chesterfield Pkwy E
General Information
Standard status
Active
Size
14,145 SF
Lot size
2.08 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$450,000
Building Details
Year Built
2003
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
SURMOUNT
(786) 522-7017
Listed By:
Gabriel Britti · License #FL SL3211804
Source:
Crexi
Added: Jul 22, 2025
Changed: Aug 11
Last Checked: May 13 at 12:10AM
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 SURMOUNT
Investment Insights
Based on property information with market context.
This property features a 14,145-square-foot, free-standing Walgreens building with a drive-thru, situated on a 2.08-acre parcel in Chesterfield, Missouri, approximately 20 miles west of Downtown St. Louis. Located within Chesterfield Village, a mixed-use district with condominiums, apartments, hotels, and an office park, the property benefits from proximity to a large daytime workforce and numerous apartment complexes. The surrounding trade area is densely populated with over 113,000 residents and average household incomes exceeding $148,000 within a 1-mile radius. The property is easily accessible with high visibility, seeing over 9,253 vehicles per day. Adjacent to the property are multiple medical office buildings and surgery centers. A 31-acre Pfizer facility, currently undergoing a $60 million expansion, is located across the street. The office park includes fully occupied office buildings housing regional and national companies. The property is near the I-64 exit and entrance ramps, which see over 81,250 vehicles per day, and the former Chesterfield Mall, where plans exist for a $2 billion mixed-use development. Walgreens originally signed a 25-year absolute NNN lease in 2003, with the current term running through February 28th, 2028, and ten five-year options to extend.
Key Highlights
- Absolute net leased Walgreens with over 4 years remaining on the initial term, plus ten 5‑year options.
- Located in an affluent area with high household incomes and a dense population.
- Strategic location within Chesterfield Village, a large mixed‑use district close to a large daytime workforce.
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
$190,282
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
3.28%
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%
$3,805,640
$3.8M
Cap Rate 7%
$2,718,314
$2.7M
Cap Rate 9%
$2,114,244
$2.1M
Market Conditions
NOI Build-Up for 14,145 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
$315.7K $22.32/SF
− Vacancy
−$43.9K −$3.10/SF
EGI
$271.8K $19.22/SF
− OpEx
−$81.5K −$5.77/SF
NOI
$190.3K $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%
$3,805,640
Cap Rate 7%
$2,718,314
Cap Rate 9%
$2,114,244
Alternative Uses
Best Use
Retail
$2.72M
$2.38M – $3.17M
NOI $190,282 @ 7.0% cap · market cap 3.28%
Second Best
Specialty Retail
$868.4K
$759.9K – $1.01M
NOI $60,788 @ 7.0% cap · market cap 1.05%
Theoretical Best
Office A
$3.04M
$2.66M – $3.54M
NOI $212,504 @ 7.0% cap · market cap 3.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,499
Businesses Nearby
117k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 33%
Groceries 29%
Shops & Services 20%
Hotels & Casinos 18%
Schnucks
Groceries
34,234 visits/mo
0.2 miles
Circle K
Shops & Services
15,626 visits/mo
0.1 miles
Starbucks
Dining
11,143 visits/mo
0.0 miles
Drury Plaza Hotel
Hotels & Casinos
11,116 visits/mo
0.4 miles
Mellow Mushroom
Dining
9,558 visits/mo
0.1 miles
Demographics for 63017, MO
42,773
Population
18,726
Households
2.3
Avg Household Size
49
Median Age
70%
College-Educated
97%
High-School Grad
19.3 sq mi
ZIP Area
2,216
Density / Sq Mi
$128,750
Median Household Income
$77,813
Median Earnings
$1,632
Median Rent
$452,000
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
- Corum Health Services, Inc. — 14805 N Outer 40 Rd #140, Chesterfield, MO 63017
- Amanda J. Breuer, PharmD — 917 Chesterfield Pkwy E, Chesterfield, MO 63017
- Jacqueline Karth, PharmD — 917 Chesterfield Pkwy E, Chesterfield, MO 63017
- Michael Kneemueller — 917 Chesterfield Pkwy E, Chesterfield, MO 630172045
- Valued Pharmacy Services — 16090 Swingley Ridge Rd STE 450, Chesterfield, MO 63017
Frequently Asked Questions
What type of property is this?
Drug store - Net leased Walgreens in Chesterfield Village near high-traffic area.
Where is this drug store located?
The property is located at 917 Chesterfield Pkwy E Chesterfield, MO.
What is the asking price?
The asking price for this property is $5,806,451.
What are key features of this property?
This property features: Absolute net leased Walgreens with over 4 years remaining on the initial term, plus ten 5‑year options.; Located in an affluent area with high household incomes and a dense population.; Strategic location within Chesterfield Village, a large mixed‑use district close to a large daytime workforce.
