Current Use by Public Records
- Retail properties & Spaces
Property Details for 408 Brothers Ave
- Year built
- 2021
- Lot size
- 0.54 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a 4,654 square foot, single-tenant storefront in Festus, Missouri. The property, built in 2021, is a Total Access Urgent Care facility boasting a strong financial performance and a prime location on Veterans Boulevard (26,500 cars per day), a major retail corridor. The 20-year lease, with 15 years remaining, includes a 10% rent increase every five years, ensuring consistent income growth. The property sits on a 0.54-acre lot and benefits from its proximity to Interstate 55 (47,000 cars per day), enhancing accessibility. This top-performing location (within the top 12% of the chain based on customer traffic) features substantial on-site medical equipment, including x-ray, CT imaging, ultrasound, and lab testing, representing a significant capital investment. The surrounding area includes numerous national retailers such as Walmart, Home Depot, Lowe's, and many others, creating a synergistic retail environment. The current Net Operating Income (NOI) is $202,639, resulting in a 6.65% cap rate. The asking price is $3,047,000. This is a rare opportunity to acquire a high-performing, long-term leased asset in a thriving retail market. The lease commenced December 1, 2019, and expires November 30, 2039.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Festus
- County
- Jefferson
- State
- Missouri
- Longitude
- -90.3966
- Latitude
- 38.2126
