1 Merlin Dr Troy, MO 63379-2042
- Turn key restaurants
- 4,698 SF
- 1.00 lot acres
Current Use by Public Records
- Turn key restaurants
Property Details for 1 Merlin Dr
- Year built
- 1999
- Lot size
- 1.00 lot acres
- Property size
- 4,698 SF
- Property type
- Turn key restaurants
- APN
- 15-70-25-002-005-001.011
- APU
- 157025002005001011
Description
This exceptional investment opportunity presents a fee-simple, 4,698 square foot Denny's restaurant located at 1 Merlin Dr, Troy, MO 63379, within the St. Louis MSA. The property boasts a newly extended 10.2-year lease (expiring January 30, 2035) with Denny's largest franchisee, WKS Restaurants, ensuring consistent cash flow. The absolute triple-net (NNN) lease structure shifts all responsibility for property maintenance and taxes to the tenant. Built in 1999 and renovated in 2015, this single-building property sits on one acre of land and enjoys 100% occupancy. The lease includes a 6.50% cap rate and features 10% rent bumps every five years, along with four 5-year renewal options, providing significant long-term growth potential. The asking price is $1,923,077, translating to $409.34 per square foot. The property's strategic location, with high visibility from Highway 47 and Route 61, attracts both local and transient customers. The strong financial performance, coupled with the long-term lease and built-in rent increases, makes this a compelling investment opportunity with a substantial net operating income (NOI) of $125,000. This is a rare chance to acquire a stable, high-performing asset in a desirable location.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Troy
- County
- Lincoln
- State
- Missouri
- Longitude
- -90.9689
- Latitude
- 38.9861
- CBSA code
- 41180
- CBSA name
- ST. LOUIS, MO-IL METROPOLITAN STATISTICAL AREA
