3843 Gravois Ave St St. Louis, MO 63116

Property Details for 3843 Gravois Ave St

Year built

1970

Lot size

13.07 lot acres

Property size

129,093 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

Gravois Plaza, a 129,093-square-foot shopping center in St. Louis, Missouri, presents a compelling value-add investment opportunity. Built in 1970 and renovated in 2002 and 2020, this multi-tenant property sits on 13.07 acres at 3843 Gravois Ave, zip code 63116. Currently boasting 76.2% occupancy and a Net Operating Income (NOI) of $834,576 (pro-forma NOI also $834,576), the center benefits from a high-performing grocery anchor tenant, Aldi, whose 2023 sales exceeded $721 per square foot, resulting in a favorable health ratio of 1.6%. The property features a weighted average lease term (WALT) of 6.4 years and a tenant base comprised of 88% national retailers, with 57% of revenue stemming from necessity-based, e-commerce-resistant businesses. A significant portion of the in-line tenants (46% of occupied GLA) have over 15 years of operational history at the property. The center's location along Gravois Avenue near its intersection with Grand Avenue provides high visibility and accessibility, with a combined 40,000 vehicles per day and seven points of ingress/egress. The surrounding area has a dense residential population (nearly 30,000 within a 1-mile radius) and limited retail competition, creating a strong captive audience. Significant upside potential exists through leasing up approximately 16,560 square feet of available space (excluding existing dark anchor space). The property's strong leasing momentum, with no lease expirations until November 2026, further enhances its investment appeal.

Location Insight

City

St. Louis

County

State

Missouri

Longitude

-90.2503

Latitude

38.5928