1605 Humes Ln Florissant, MO 63031-3444

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.

Location Insight

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

Property Tax & Assessments