1605 Humes Ln Florissant, MO 63031-3444
- Retail space
- 8,247 SF
- 1.53 lot acres
Current Use by Public Records
- Family Dollar / Discount Supermarket / School Supply Store
Property Details for 1605 Humes Ln
- Year built
- 2016
- Lot size
- 1.53 lot acres
- Property size
- 8,247 SF
- Zone code
- R4
- Property type
- Retail space
- APN
- 06K-3-3-139-1
- APU
- 06K331391
Description
This exceptional investment opportunity presents a 8,225-square-foot Family Dollar store located at 1605 Humes Ln, Florissant, MO 63031, within the densely populated St. Louis MSA. The property boasts a strong 8.75% cap rate, generating a net operating income (NOI) of $122,000. The absolute NNN lease, featuring a corporate guarantee from Family Dollar, ensures zero landlord responsibilities. With a remaining lease term of 5.6 years expiring June 30, 2030, and built in 2015, this single-tenant property sits on a 1.56-acre lot. Significant rent bumps are built into the lease, increasing 10% on July 1, 2025, and in each subsequent five-year option period, leading to a substantial increase in NOI to $134,200. The property benefits from its location within a thriving retail corridor, anchored by Schnucks and surrounded by other national retailers like Walgreens, McDonald's, and Subway. The surrounding area is densely populated, with over 80,000 residents within a 3-mile radius, boasting an average household income of $89,000. This presents a compelling investment opportunity with significant upside potential due to the built-in rent increases and strong tenant performance in a high-traffic location. The asking price is $1,394,000, translating to a price per square foot of $169.48. The lease includes six, five-year options.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Florissant
- County
- St. Louis
- State
- Missouri
- Longitude
- -90.342
- Latitude
- 38.8187
- CBSA code
- 41180
- CBSA name
- ST. LOUIS, MO-IL METROPOLITAN STATISTICAL AREA
