Value-Add Shopping Center | 88.0% Leased | 24,597 VPD
Value-Add Shopping Center | 88% Leased | Shared Intersection Chick-fil-A
Marketing description
Klamen Commercial Advisors and Manor Real Estate, as exclusive advisors, are pleased to present the opportunity to acquire a 100% fee-simple interest in Tenholder Plaza (“The Property”) – a 88% leased, 46,874 square-foot multi-tenant neighborhood retail center, prominently situated at the signalized hard corner of Lemay Ferry Road and South County Center Way in Mehlville, MO (St. Louis County). The property benefits from exceptional visibility and ingress/egress, with Lemay Ferry Road carrying approximately 24,597 vehicles per day. The tenant lineup features a diverse mix of national, regional, and local retailers including LensCrafters, Mattress Firm, Red Wing Shoes, The Joint Chiropractic, Golf Discount, Dungeon Gym, and other service-oriented operators. This balanced roster of necessity-based, experiential, and specialty retail uses provides investors with highly durable tenancy and consistent daily traffic supported by credit-enhancing brands. Strategically located less than one-half mile from Interstate 255 (I-255), the center offers strong regional accessibility and serves as a convenient retail destination for both local residents and broader South County trade area consumers. The property is immediately adjacent to South County Center, a 1,000,000+ square-foot regional shopping mall anchored by JCPenney, Dick’s Sporting Goods, and Dillard’s, creating a powerful regional draw. Proposed redevelopment plans for the mall further enhance the long-term upside potential for both tenants and investors.
The surrounding trade area represents one of the most dominant and supply-constrained retail corridors in St. Louis County, with a concentration of major national retailers including Costco, Walmart Supercenter, Home Depot (top-performing store in the St. Louis MSA), Target, Marshalls, Floor & Decor, PetSmart, and others. Within a 3-mile radius, the property serves over 93,000 residents, 40,000 households, and 35,000 employees, supported by average household incomes exceeding $71,000.Tenholder Plaza has benefited from recent renovations and a refreshed façade, offering strong curb appeal, modern storefronts, pylon signage opportunities, and competitive positioning within the submarket. The property offers investors a rare opportunity to acquire a stabilized, high-occupancy retail asset with reliable in-place cash flow in one of St. Louis County’s most active and established super-regional retail trade areas.
Investment highlights
Exceptionally Well-Located at a High-Performing Signalized Intersection
Tenholder Plaza sits prominently at the signalized hard corner of Lemay Ferry Road and South County Center Way, providing excellent ingress/egress and visibility for all tenants. Lemay Ferry Road carries 24,597 vehicles per day, ensuring consistent exposure and strong customer capture for the center’s retailers.
Strong Regional Accessibility – Less Than Half a Mile from I-255
The center benefits from immediate proximity to Interstate 255, located less than 0.5 miles away, positioning the asset as a convenient retail destination for both local shoppers and regional draw traffic accessing the broader South County retail corridor.
Stabilized 100% Occupied Center Totaling 46,874 SF
Tenholder Plaza is a 100% occupied shopping center leased by a durable mix of service-based, soft-goods, fitness, and specialty retailers. The property totals 46,874 SF across multiple suites, offering investors highly reliable in-place cash flow and minimal near-term leasing risk.
Diverse Tenant Lineup Featuring National, Regional, and Local Brands
The tenant roster includes respected national and regional retailers such as LensCrafters (3,000 SF), Mattress Firm (9,000 SF), Red Wing Shoes (1,438 SF), The Joint Chiropractic (1,000 SF), Golf Discount (6,000 SF), and others. This blend of credit-enhancing brands and local operators strengthens both customer traffic and tenancy durability.
Adjacent to South County Center Mall – A Major Regional Retail Anchor
The property is immediately adjacent to South County Center (1,000,000+ SF), anchored by JCPenney, Dick’s Sporting Goods, and Dillard’s, creating a powerful regional retail draw. Recent plans have been proposed for a major redevelopment of South County Center which would provide significant future upside to both the tenants and investor.
Upside Opportunity – Measured Rentable Square Footage
The variance between leased square footage and professionally measured rentable square footage (“RSF”) totals approximately 1,504 square feet. This variance may provide future revenue upside through lease renewals, new leases, or lease amendments. Any potential adjustments to square footage or rental rates would occur upon lease rollover and are not reflected in current in-place NOI.
Located Within a High-Demand, Densely Populated Retail Submarket
Within a 3-mile radius, the property serves 93,324+ residents, 40,849 households, and 35,551 employees, supported by average household incomes exceeding $71,000. These demographics support tenant sales performance and long-term occupancy stability in a submarket known for tight retail supply and sustained demand.
Recently Renovated Center with Strong Curb Appeal and Modern Retail Frontage
Tenholder Plaza benefits from recent renovations and a refreshed façade, delivering competitive aesthetic appeal relative to other centers in the submarket. Its clean sightlines, pylon signage availability, and modern storefronts contribute to tenant retention and customer draw.
Positioned in One of St. Louis County’s Most Active Retail Development Zones
The South County trade area remains one of the most active and in-demand submarkets in the St. Louis region, with ongoing new retail projects, competitive transaction activity, and continued retailer expansion. Tenholder Plaza offers investors a rare opportunity to acquire a stabilized center in a supply-constrained, high-performance retail corridor.
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