For Sale
$3,355,555

499 Salt Lick Rd StSt. Peters, MO 63376

High-Yield Walgreens NNN Lease, St. Peters, MO

Overview

Added:
Dec 11, 2024
Days on market:
119
This exceptional investment opportunity presents a fee-simple Walgreens located at a signalized corner in affluent St. Peters, Missouri. The 14,470 square foot property, built in 2007, sits on a 1.39-acre lot and boasts a 100% occupancy rate with an absolute NNN lease. The lease, commencing May 1, 2007, and expiring April 30, 2032, offers over 7.4 years remaining with ten 5-year option periods. The property generates a substantial NOI of $302,000, resulting in a compelling 9.00% cap rate. Benefiting from high traffic counts due to its proximity to Interstate-70 and a strong demographic profile (average household income within a 5-mile radius exceeding $105,000), this Walgreens is anchored by a critical drive-thru lane. The tenant, Walgreens, is an investment-grade credit tenant with a Fortune 500 standing and a strong S&P credit rating. This is a passive, secure investment with significant long-term potential in a thriving St. Louis suburb. The asking price is $3,355,555. The net rentable square footage is 14,740. This property offers an exceptional opportunity for investors seeking a stable, high-return investment with a blue-chip tenant.

Highlights

  • High-visibility corner lot at Salt Lick Road and Boschert Landing Blvd., less than 0.5 miles from I-70, benefiting from 147,000+ daily vehicles.
  • Absolute NNN lease with over 8 years remaining and 10, 5-year options.
  • Strong demographics: Saint Peters, MO location boasts a 5-mile radius with 133,000+ residents and an average household income of ~$105,000.
  • Located in the St. Louis, MO MSA, a market with over 2.8 million residents.
  • Features a critical drive-thru lane, highly desirable in today's market.
  • Investment-grade tenant: Walgreens, a Fortune 500 company with an S&P credit rating of BBB and ~$31 billion market cap.

Property Details for 499 Salt Lick Rd St

Property type
Retail properties, Drug stores
Square Feet
14,470 SF
Year Built
2007
Lot Size (sq. ft)
60,548 SF

Location Insight

City
St. Peters
County
St. Charles
State
Missouri
Latitude
38.7965599
Longitude
-90.6571368
499 Salt Lick Rd St, St. Peters, Missouri

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499 Salt Lick Rd St
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