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Schnucks & Panera Outparcel 10233 Manchester Rd 64,350 SF 100% Leased Retail Building Kirkwood, MO 63122 $20,457,120 CAD ($317.90 CAD/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- Part of the larger Schnucks Portfolio (8 Assets in MO & IL) - Seller is highly encouraging individual and portfolio offers
- Positioned at the intersection of Manchester Road and Woodlawn Avenue (Combined 25,200 VPD)
- The store previously underwent a significant remodel and capital reinvestment of nearly $7M.
- Property was developed in 1986, providing a 39-year operational track record in one of St. Louis MSA's most desirable municipalities
- Kirkwood is considered a highly-desirable, white-collar community that offers a nationally recognized public school system.
- The Kirkwood store sits on a 5.78-acre parcel that includes a 4,363 SF building ground leased to Panera Bread.
EXECUTIVE SUMMARY
The CBRE Net Lease Property Group is pleased to offer for sale the 64,350-square-foot Schnucks grocery store and Panera outparcel positioned on 5.78 acres in Kirkwood, MO — part of the St. Louis MSA (MSA Population: 2.82M+). Schnucks absolute NNN lease has ±11.5 years of term remaining with 5% rent increases every 5 years and in each of the eight, 5-year renewal options. The property is part of the larger Schnucks Portfolio, which consists of eight assets in Missouri and Illinois. The seller is highly encouraging individual and portfolio offers.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
64,350 SF
Building Class
B
Year Built
1986
Price
$20,457,120 CAD
Price Per SF
$317.90 CAD
Cap Rate
6%
NOI
$1,227,427 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.26
Lot Size
5.78 AC
Zoning
B3
Parking
237 Spaces (3.95 Spaces per 1,000 SF Leased)
Frontage
395’ on Manchester Road
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 22M-52-0395 | Improvements Assessment | $1,140,855 CAD |
| Land Assessment | $1,620,885 CAD | Total Assessment | $2,761,741 CAD |
PROPERTY TAXES
Parcel Number
22M-52-0395
Land Assessment
$1,620,885 CAD
Improvements Assessment
$1,140,855 CAD
Total Assessment
$2,761,741 CAD
CONTACTS
-
Thomas Carr -
Brian Pfohl -
Christopher Bosworth -
Chase Young -
Leah Lindell -
Kaitlyn Wolf -
CBRE
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Schnucks & Panera Outparcel | 10233 Manchester Rd
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