2893 Veterans Memorial PkwySaint Charles, MO 63301

Property Details for 2893 Veterans Memorial Pkwy

Year built

1993

Lot size

1.19 AC

Property size (Sq ft)

5,159 SF

Zone code

AB2

Property type

Medical offices

Property subtype

Medical centers

APN

6-010D-6971-00-002C.0000000

APU

6010D697100002C0000000

Description

This exceptional investment opportunity presents a fee-simple ownership of a 5,159 square foot retail building in St. Charles, Missouri, situated within the St. Louis MSA. The property is currently 100% occupied by Consumer Cellular under a triple-net (NNN) lease with a corporate guarantee, offering significant passive income. The lease commenced July 23, 2023, and has a remaining term of 6.1 years, expiring January 1, 2031, with two 5-year renewal options. Rent increases of 10% are built in every five years. The property boasts a strong 6.50% cap rate and a net operating income (NOI) of $135,122. Built in 1993 and extensively renovated in 2023, the single-building property sits on a 1.19-acre lot and is strategically located as an outparcel to a shopping center anchored by Walmart Supercenter and Sam's Club, ensuring high visibility and traffic. The recent renovations included new windows, slab/foundation work, and a new unit heater. The property benefits from a roof warranty extending until 2028. Consumer Cellular, a rapidly growing national company with over four million subscribers, provides exceptional tenant stability. This prime location in the affluent St. Charles suburb, just 30 minutes from downtown St. Louis, offers a compelling investment opportunity with strong potential for long-term growth and returns. The average income within a 5-mile radius exceeds $100,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,380,246

  6.5%

  $1,274,074

  7%

  $1,183,068

• Comparable approach

  Method

  Valuation

  Relative Method

  $402,196

  Geo Method

  $402,196

• Alternative Use

  Use

  Valuation

  Residential

  $1,579,851

  Hospitality

  $1,447,135

  Educational

  $1,204,000

  Medical

  $1,245,407

  Retail

  $1,872,888

Location Insight

City

Saint Charles

County

St. Charles

State

Missouri

Latitude

38.7834

Longitude

-90.5252

CBSA code

41180

CBSA name

ST. LOUIS, MO-IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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