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29936600
29936601

122 S County Center Way, St. Louis, MO 63129

JK
MO MO 2019001177
Klamen Commercial Advisors
EC
MO 2008027591, IL 475.204135
Manor Real Estate
Listed by Klamen Commercial Advisors, Manor Real Estate
$9,261,001
102 days on market
Updated 69 days ago

Value-Add Shopping Center | 88.0% Leased | 24,597 VPD

Details
Property Type Retail
Sub Type Shopping Center, Strip Center
Square Footage 46,874
Units 12
Cap Rate 7.5%
NOI $694,575
Occupancy 88%
Tenancy Multi
Brand/Tenant Matress Firm, LensCrafters (+2)
Lease Type NNN
Rent Bumps Yes
Pro-Forma Cap Rate 8.61%
Pro-Forma NOI $797,431
Price per SqFt $198
Class B
Year Built 1963
Year Renovated 2024
Stories 1
Acreage 3.310
Investment Type Core+
Tenant Credit Credit Rated, Franchisee
Ownership Fee Simple

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.

Listing Contacts

JK
MO MO 2019001177
Klamen Commercial Advisors
EC
MO 2008027591, IL 475.204135
Manor Real Estate
Listed by Klamen Commercial Advisors, Manor Real Estate

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$694,575.00
$57,881.25/mo

Valuation Metrics

0
DSCR
7.5%
Cap Rate
7.5%
ROI

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Additional Information

Name
Jake Klamen
License
MO 2019001177
Name
Eddie Cherry
License
2008027591
Brokerage
Manor Real Estate
Title
Broker
Brokerage Address
3270 Hampton Avenue
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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