917 Chesterfield Pkwy Chesterfield, MO 63017
- Drug stores
- 14,634 SF
- 2.08 lot acres
Current Use by Public Records
- Drug stores
Property Details for 917 Chesterfield Pkwy
- Year built
- 2003
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 2.08 lot acres
- Property size
- 14,634 SF
- Zone code
- 105PC
- Property type
- Drug stores
- APN
- 18S-2-4-047-6
- APU
- 18S240476
Description
This exceptional investment opportunity presents a fee-simple, 14,145-square-foot Walgreens located at 917 Chesterfield Parkway East in Chesterfield, Missouri. The property boasts a strong 7.75% cap rate and a substantial net operating income (NOI) of $450,000. Situated on a 2.08-acre lot, this single-story, 2003-built building benefits from a long-term, absolute NNN lease with Walgreens (NYSE: WBA), providing zero landlord responsibilities. The lease, originally commenced on November 30, 2003, has a remaining term of approximately 3.3 years, with ten five-year renewal options. The corporate guarantee from Walgreens ensures financial stability. This prime location within Chesterfield Village, a thriving mixed-use district, offers exceptional visibility and accessibility, with over 9,253 vehicles passing daily. The property's proximity to I-64 (81,250 vehicles per day), a state-of-the-art Pfizer facility undergoing a $60 million expansion, and numerous medical centers further enhances its value. The affluent demographics, with average household incomes exceeding $174,000 within a 3-mile radius and a trade area population exceeding 113,000, contribute to the property's strong performance. The drive-thru pharmacy adds to its convenience and appeal. This is a rare opportunity to acquire a high-performing, low-maintenance investment property in a desirable location within the St. Louis MSA. The asking price is $5,806,451, representing a price per square foot of $410.49. The property's location offers significant upside potential due to its proximity to planned developments and existing commercial activity. The property is 100% occupied and offers significant depreciation benefits.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Chesterfield
- County
- St. Louis
- State
- Missouri
- Longitude
- -90.5535
- Latitude
- 38.6555
- CBSA code
- 41180
- CBSA name
- ST. LOUIS, MO-IL METROPOLITAN STATISTICAL AREA
