For Sale
$7,055,000

2340 59Th StSt. Louis, MO 63110

Mission-critical AT&T facility, 100% occupied.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a 65,900-square-foot industrial distribution warehouse located at 2340 59th Street, St. Louis, MO 63110. The property sits on a 3.02-acre lot and features a single, 18-foot-high ceiling building constructed in 1962. Currently 100% occupied by AT&T, a tenant with an investment-grade credit rating (BBB, S&P), this property offers a highly secured, long-term net lease with a recent 10-year extension commencing April 1, 2025, and extending through March 31, 2035. The lease includes attractive 3% annual rent increases throughout the primary term and two five-year options at fair market value with similar increases, providing a strong hedge against inflation. This "mission-critical" facility serves as an emergency repair resource center for AT&T, supporting their infrastructure across a five-state region. Its strategic location near the I-44 Hampton Avenue on/off ramp provides convenient access to major interstate highways (I-55, I-64, I-70, I-170), further enhancing its operational efficiency. The property boasts 45 parking spaces. The South County submarket, where this property is located, exhibits exceptionally low vacancy rates (3.7% as of Q3 2024) and zero square footage under construction, indicating high tenant demand and a scarcity of comparable properties. The asking price is $7,055,000, representing a significant discount below replacement cost. This is a rare opportunity to acquire a high-quality, mission-critical industrial asset with a long-term, secure lease from a financially strong tenant.

Highlights

  • Highly secured, long-term NNN lease with AT&T, recently extended for 10 years.
  • AT&T's investment-grade credit rating ensures a secure income stream.
  • 33% below replacement cost.

Property Details for 2340 59Th St

Property type
Warehouses, Industrial properties
Square Feet
65,900 SF
Year Built
1962
Buildings
1
Stories
1
Lot Size (sq. ft)
131,551 SF

Location Insight

City
St. Louis
County
State
Missouri
Latitude
38.6136073
Longitude
-90.2844434
2340 59Th St, St. Louis, Missouri

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2340 59Th St
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