522 Osage St, Pacific, MO 63069-1706
- Retail space
- 20,766 SF
- 2.13 lot acres
Current Use by Public Records
- Vero Fitness / Gym & Fitness Center
Property Details for 522 Osage St
- Year built
- 1964
- Construction
- METAL FRAME
- Lot size
- 2.13 lot acres
- Zone code
- 44C-1
- Property type
- Retail space
- APN
- 31Z-6-3-008-0
- APU
- 31Z630080
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Apr 21, 2022 | $1,650,000 | Pacific Plaza Property Fund LP | Pacific Plaza LLC | Special Warranty Deed | $1.4M · Sullivan Bank |
| Jul 21, 2009 | — | Pacific Plaza LLC | — | Trustees Deed · related | $882k · Citizens Federal Bank Fsb |
| Mar 3, 2009 | — | Pacific Plaza LLC | Devries,douglas | Warranty Deed | — |
| Aug 5, 1998 | — | Douglas D De Vries | Francois,david | Grant Deed | $600k · Concord Bank |
| — | — | Pacific Plaza LLC | — | Deed Of Trust · related | $221k · Us Small Busn Admn |
| — | — | Douglas Devries | — | Deed Of Trust · related | $700k · Citizens Federal Bank Fsb |
Description
This 37,106 square foot shopping center in Pacific, MO, presents a compelling value-add opportunity. Located at 522 E Osage St, this multi-tenant property boasts 11 units and is currently 86.44% occupied, generating a NOI of $181,498 and a 9.31% cap rate. The property features a diverse mix of national and local tenants under a NNN lease structure. Extensive renovations completed in 2022 include a new roof, parking lot, HVAC system, LED lighting, electrical panels, and ownership improvements. The asking price is $1,950,000, translating to $52.55 per square foot. Situated in a rapidly growing suburb of the greater St. Louis MSA, this center offers significant upside potential through lease-up of the remaining 5,030 square feet of vacant space, market rent adjustments for existing tenants, and the incorporation of CAM charges and annual rent increases. The property benefits from a strong population base within a 10-mile radius, further enhancing its long-term investment prospects. This is a rare chance to acquire a well-maintained, recently renovated shopping center in a thriving market. The property was built in 1964 and offers significant potential for increased profitability. Rent bumps are included in the lease agreements.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,955,000
- ML approach
- $1,990,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,477,000
- AI Estimate
- $1,738,000
Market price range: $1.49M - $4.27MMarket price range: $871k - $3.03M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $2,675,000 Current use
- AUTO REPAIR, GARAGE
- $2,950,000 Change: +10% Conversion: Difficult
- OFFICE BUILDING
- $2,945,000 Change: +10% Conversion: Easy
- MEDICAL BUILDING
- $2,525,000 Change: -6% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Pacific
- County
- St. Louis
- State
- Missouri
- Longitude
- -90.7343
- Latitude
- 38.4837
- CBSA code
- 41180
- CBSA name
- ST. LOUIS, MO-IL METROPOLITAN STATISTICAL AREA
