Current Use by Public Records
- Office Spaces
Property Details for 3721 Grand Blvd St
- Year built
- 1992
- Lot size
- 1.27 lot acres
- Property type
- Office Spaces
- Property subtype
- Medical Office Space
Description
This exceptional investment opportunity presents a 15,735-square-foot, single-story medical office building situated on a 1.27-acre lot in St. Louis, Missouri. The property, built in 1992, is currently under a 25-year net lease with ChenMed, a leading healthcare tenant, with approximately 20.6 years remaining. The lease commenced July 1, 2020, and expires June 30, 2045, offering significant long-term stability. The lease includes four five-year renewal options, providing further investment security. Rent increases of 7.5% every five years offer a built-in hedge against inflation. The property boasts a strong net operating income (NOI) of $332,996, resulting in an attractive 7.25% cap rate. The asking price is $4,593,054. This strategically located asset is in a prime medical corridor, benefiting from significant healthcare investment and a high-traffic location within a key medical and retail area. The property's strong tenant, long-term lease, and built-in rent escalations make it an ideal addition to any diversified investment portfolio. The address is 3721 S Grand Blvd, St. Louis, MO 63118.
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
- St. Louis
- County
- State
- Missouri
- Longitude
- -90.2442
- Latitude
- 38.5897
