Listed by CBRE Atlanta, CBRE - Atlanta, CBRE - Saint Louis
$7,205,400
Schnucks: St. Charles, MO
Details
Property Type Retail
Sub Type Grocery Store
Square Footage 71,499
Cap Rate 6.25%
NOI $450,337
Occupancy 100%
Tenancy Single
Brand/Tenant Schnucks
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 12/31/2036
Remaining Term 10.6
Rent Bumps Yes
Lease Options Eight, 5-Year Options
Year Built 1981
Acreage 6.190
Parking Spaces 285 spaces
Parking Per SqFt 3.99
Investment Type Net Lease
Lease Commencement 12/22/2021
Ground Lease No
Retail | 6.25% CAP | 71,499 SqFt
Marketing description
The CBRE Net Lease Property Group is pleased to offer for sale the 71,499-square-foot Schnucks grocery store positioned on 6.19 acres in St. Charles, MO — part of the St. Louis MSA (MSA Population: 2.82M+). Schnucks absolute NNN lease has ±10.6 years of term remaining with 5% rent increases every 5 years and in each of the eight, 5-year renewal options.
Investment highlights
- This store was part of the Shop N Save acquisition that took place in 2019. Following the acquisition, the store underwent an approximate $1 million renovation. It is located along major thoroughfares and benefits from a captive built-in customer base in an area recognized for highly attractive demographics.
- Schnucks anchors the 126,481-square-foot Harvester Square shopping center which is further tenanted by Dollar General, Reno’s Liquidation Outlet, The Salvation Army Thrift Store, Little Caesars Pizza and Great Clips, among others.
- The site is positioned with excellent access and visibility at the intersection of MO-94 (74,741 VPD) and Harvester Road (17,372 VPD).
- There are over 2.5 MSF of retail, 1.4 MSF of office, 1.3 MSF of industrial and 3,438 multifamily units within a 3-mile radius of the site. Additional retailers in the surrounding area include Walmart, Kohls, ALDI, Fresh Thyme, CVS, Walgreens, AutoZone Auto Parts, NAPA Auto Parts, Wendy’s, Taco Bell, Burger King and Popeyes Louisiana Kitchen, among others.
Listing Contacts
Listed by CBRE Atlanta, CBRE - Atlanta, CBRE - Saint Louis
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$450,337.00
$37,528.08/mo
Valuation Metrics
0
DSCR
6.25%
Cap Rate
6.25%
ROI
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