499 Salt Lick Rd St St. Peters, MO 63376
- Retail properties
- 14,470 SF
- 1.39 lot acres
Current Use by Public Records
- Isalis / Gift Shop / Boutique
- Party City / Candy Store / Costume Store
- Skunk Funk / Clothing Store / Corporate Campus
- Carl's Trading Co / Hat Shop
- Bushka's Kitchen LLC / Outdoor Clothing And Equipment Shop
Property Details for 499 Salt Lick Rd St
- Year built
- 2007
- Lot size
- 1.39 lot acres
- Property size
- 14,470 SF
- Property type
- Retail properties
- Property subtype
- Drug stores
Description
This exceptional investment opportunity presents a fee-simple Walgreens located at a signalized corner in affluent St. Peters, Missouri. The 14,470 square foot property, built in 2007, sits on a 1.39-acre lot and boasts a 100% occupancy rate with an absolute NNN lease. The lease, commencing May 1, 2007, and expiring April 30, 2032, offers over 7.4 years remaining with ten 5-year option periods. The property generates a substantial NOI of $302,000, resulting in a compelling 9.00% cap rate. Benefiting from high traffic counts due to its proximity to Interstate-70 and a strong demographic profile (average household income within a 5-mile radius exceeding $105,000), this Walgreens is anchored by a critical drive-thru lane. The tenant, Walgreens, is an investment-grade credit tenant with a Fortune 500 standing and a strong S&P credit rating. This is a passive, secure investment with significant long-term potential in a thriving St. Louis suburb. The asking price is $3,355,555. The net rentable square footage is 14,740. This property offers an exceptional opportunity for investors seeking a stable, high-return investment with a blue-chip tenant.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- St. Peters
- County
- St. Charles
- State
- Missouri
- Longitude
- -90.6571
- Latitude
- 38.7966
