1242 Kirkwood Rd Saint Louis, MO 63122-7253

Property Details for 1242 Kirkwood Rd

Year built

2015

Construction

FRAME

Lot size

0.92 lot acres

Property size

6,852 SF

Zone code

32B5

Property type

Turn key restaurants

APN

25M-4-2-177-2

APU

25M421772

Description

This exceptional investment opportunity presents a 6,852 square foot, single-story, absolute NNN leased restaurant building located at 1242 S Kirkwood Rd, Kirkwood, MO 63122. The property, built in 2020 and renovated in 2020, sits on a 1.37-acre lot and enjoys a prime outparcel location within the Kirkwood Commons Shopping Center, anchored by Walmart, Lowe's, and Target. The high-traffic area boasts over 34,000 vehicles passing daily, with over 187,000 people residing within a 5-mile radius and average household incomes exceeding $120,000 within 3 miles. The tenant, Storming Crab, a growing regional franchise with 22 locations, operates under a 15-year absolute NNN lease with 10.1 years remaining, featuring 10% rent bumps every five years. The current NOI is $180,000, yielding a 6.0% cap rate, projected to increase to $217,800 and a 7.26% cap rate by 1/1/2030. The lease includes two 5-year renewal options with similar rent increases. The tenant is responsible for 100% of operating expenses, including major capital expenditures such as roofing, parking lot maintenance, and HVAC. This property offers a stable, long-term investment with significant upside potential in a highly desirable location. The asking price is $3,000,000.

Location Insight

City

Saint Louis

County

St. Louis

State

Missouri

Longitude

-90.4061

Latitude

38.5616

CBSA code

41180

CBSA name

ST. LOUIS, MO-IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments