917 Chesterfield PkwyChesterfield, MO 63017

Property Details for 917 Chesterfield Pkwy

Year built

2003

Construction

TYPE NOT SPECIFIED

Lot size

2.08 AC

Property size (Sq ft)

14,634 SF

Zone code

105PC

Property type

Drug stores

APN

18S-2-4-047-6

APU

18S240476

Description

This exceptional investment opportunity presents a fee-simple, 14,145-square-foot Walgreens located at 917 Chesterfield Parkway East in Chesterfield, Missouri. The property boasts a strong 7.75% cap rate and a substantial net operating income (NOI) of $450,000. Situated on a 2.08-acre lot, this single-story, 2003-built building benefits from a long-term, absolute NNN lease with Walgreens (NYSE: WBA), providing zero landlord responsibilities. The lease, originally commenced on November 30, 2003, has a remaining term of approximately 3.3 years, with ten five-year renewal options. The corporate guarantee from Walgreens ensures financial stability. This prime location within Chesterfield Village, a thriving mixed-use district, offers exceptional visibility and accessibility, with over 9,253 vehicles passing daily. The property's proximity to I-64 (81,250 vehicles per day), a state-of-the-art Pfizer facility undergoing a $60 million expansion, and numerous medical centers further enhances its value. The affluent demographics, with average household incomes exceeding $174,000 within a 3-mile radius and a trade area population exceeding 113,000, contribute to the property's strong performance. The drive-thru pharmacy adds to its convenience and appeal. This is a rare opportunity to acquire a high-performing, low-maintenance investment property in a desirable location within the St. Louis MSA. The asking price is $5,806,451, representing a price per square foot of $410.49. The property's location offers significant upside potential due to its proximity to planned developments and existing commercial activity. The property is 100% occupied and offers significant depreciation benefits.

• CAP approach

  CAP return

  Valuation

  6%

  $5,174,679

  6.5%

  $4,776,627

  7%

  $4,435,440

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,874,984

  Geo Method

  $2,874,984

• Alternative Use

  Use

  Valuation

  Residential

  $4,029,264

  Hospitality

  $3,690,784

  Educational

  $3,070,689

  Medical

  $3,176,294

  Retail

  $4,776,627

Location Insight

City

Chesterfield

County

St. Louis

State

Missouri

Latitude

38.6555

Longitude

-90.5535

CBSA code

41180

CBSA name

ST. LOUIS, MO-IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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