Verizon and Mattress Firm 3055 N Lindbergh Blvd, Florissant, MO Cap Rate 8.75% Florissant ( Missouri, US ) Built

$2,906,242 USD
Dollars

BAI-MEX Bienes Raíces y Negocios

  • Type: Commercial
  • Style: Commercial
  • Size: 7,048 sq. ft.
  • Development Level: Built
  • Lot Size: 0.68 acres

Description

Verizon and Mattress Firm 3055 N Lindbergh Blvd, Florissant, MO Cap Rate 8.75%

Cap Rate: 8.75%
NOI: $254,296
Building Size: 7,048 sqft
Lot Area: 0.68 acres
Occupancy: 100%
Lease Type: Double Net
Price Per Sqft: $412.35
Tenancy: Multiple
Parking Spots: 42

Price: $2,906,242 USD

DESCRIPTION
Capital Pacific is pleased to present the opportunity to acquire a premier two tenant strip center in Florissant, Missouri. The subject property is 100% leased to Verizon Wireless and Mattress Firm, and features recently extended 5 year lease terms for both corporate tenants with rent increases in the primary term and option periods. The property was constructed in 2009 for Verizon and Mattress Firm and features NNN lease structures, limiting Landlord responsibilities for this investment (see lease abstracts on Pages 7-8). Both tenants feature corporate signature leases and have been at this location since 2009, showing their commitment to the site and market.

The property is ideally located on a signalized hard corner on the north side of Highway 67, a busy intersection that sees nearly 28,000 vehicles per day. This dense retail location features unbeatable visibility, access, and parking. Furthermore, it is located in the dominant trade area in Florissant, surrounded by premier national anchors including Walmart, Lowe’s (across the street), Target, and Home Depot (less than 1 mile). There are over 182,000 people residing within a 5-mile radius of the property.

HIGHLIGHTS
• Located on a signalized hard corner in dense retail market
• Excellent visibility and access from heavily trafficked Highway 67 and New Halls Ferry Road
• Corporate leases - tenants have occupied their locations since 2009
• Both tenants exercised their option periods - showing commitment to the property
• Verizon has 2% annual increases, with the next increase occurring in July, 2020

For more information:
Javier Tamez Martínez.
jtamez@bai-mex.com
Celular: +52 (81) 1599 75 36
Podemos encontrar propiedades comerciales e industriales para invertir en cualquier ciudad y estado de estados unidos.

Attachments

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Information is deemed to be correct but not guaranteed.