2329 West Clay Street, St Charles, MO 63301 For Sale

Marcus & Millichap is pleased to exclusively present for sale this Absolute Net Leased Walgreens located at 2329 W. Clay Street in Saint Charles, Missouri, a highly desirable suburb within the St. Louis Metropolitan Statistical Area. Saint Charles serves as the county seat of Saint Charles County and is home to more than 70,000 residents, making it the ninth-largest city in Missouri. The Property consists of a freestanding 17,612-square-foot Walgreens with Drive-Thru situated on an expansive 2.60-acre parcel, offering exceptional underlying real estate value in one of the St. Louis region’s strongest retail corridors.

Saint Charles serves as a major commercial and employment hub for the western St. Louis metropolitan area, benefiting from a diverse economic base driven by healthcare, aerospace, manufacturing, telecommunications, higher education, and tourism. Major employers include Boeing, Ameristar Casino Resort Spa, St. Joseph Health Center, AT&T Missouri, Lindenwood University, and Central States Coca-Cola, supporting a stable and growing employment base.

The Property is surrounded by dense residential development, including numerous established apartment communities such as Villa Roma Apartments, Courtland Ridge Apartments, Lago Vista Apartments, Cedarbrook Apartment Homes, Country Club Place, The Glen at Bogey Hills, Metro on 5th, Crestview Apartments, St. Andrews Apartments, and River Crossing Apartments. Continued residential growth is further supported by nearby master-planned communities including The Villages at Sandfort Farms, Villages of Provence, TR Hughes Homes at Charlestown, and Charlestown Landing.

The surrounding trade area is further strengthened by a significant higher education presence, including Lindenwood University, St. Louis Community College, Chamberlain University, John Thomas College, and Allied College, collectively serving tens of thousands of students throughout the region. Additionally, the Property benefits from its proximity to numerous established retail destinations including Saint Charles Plaza, Mark Twain Village, Plaza at DePaul, Bridgeton Oaks Shopping Center, and Dorsett Square, reinforcing the corridor as a primary shopping destination within the St. Louis MSA.

Walgreens recently executed a new 15-year absolute NNN lease, demonstrating its long-term commitment to this location. The lease commenced on November 30, 2023, and extends through November 30, 2038, providing investors with more than 13 years of remaining lease term. The lease features attractive 5% rental increases every five years throughout both the initial term and all six five-year renewal options, providing built-in income growth, predictable long-term cash flow, and zero landlord responsibilities.