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.

Location Insight

City

Troy

County

Lincoln

State

Missouri

Longitude

-90.9689

Latitude

38.9861

CBSA code

41180

CBSA name

ST. LOUIS, MO-IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments