Address: 1260 Jennings Station Rd, St. Louis, Missouri, United States 63137
Type: Auto Parts Retailer
Cap Rate: 5.75%
Lease Type: Triple Net (NNN)
Annual Rent: $85,626
Net Operating Income: $85,626
Rental Increases: 10% on 8/31/2028
Rentable Sq/Ft: 8,000 SF
Rent Sq/Ft: $10.7
Price Sq/Ft: $186
Lot Size: +/- 1.00 Acres
The property consists of a 8,000 square-foot building sitting atop a 1.00-acre lot. There are currently 13.5 years remaining on the base term of the absolute triple net (NNN) lease, which is guaranteed by Advance Stores Company, Inc., a wholly owned subsidiary of Advance Auto Parts, Inc. Currently, the annual rent for the property is $85,626, which is scheduled to increase by 10% on 8/31/2028. The tenant has four (4), five (5)-year options to extend lease, each of which comes with a 10% rental increase.
The subject investment property is situated on the hard corner of a four-way intersection between Jennings Station Rd and Lewis and Clark Boulevard. Jennings Station Road and Lewis and Clark Boulevard boost average daily traffic counts exceeding 16,000 and 22,500 vehicles, respectively. There are approximately 92,500 individuals residing within a three-mile radius and 225,500 individuals residing within a five-mile radius.
The subject property benefits from being well-positioned on a hard corner of signalized intersection in the main retail corridor of a residential neighborhood. Major national tenants in the surrounding area include: Walgreens, Dollar Tree, Firestone Complete Auto Care, AutoZone Auto Parts, O’Reilly Auto Parts, McDonalds, Little Caesars Pizza, Regions Bank, as well as others. The subject property benefits from being located within a five-mile radius of several academic institutions. Most notable of these being Jennings Senior High School and Jennings Junior High School, with a combined enrollment exceeding 1,000 students. This Advance Auto Parts is located just under 8 miles from the Boeing Campus. Boeing employs nearly 15,000 people in its north St. Louis campus which is the headquarters to its defense unit.
St. Louis is an independent city and inland port in the state of Missouri. The city was developed along the western bank of the Mississippi River, which forms Missouri’s border with Illinois. St. Louis is the second-largest city in Missouri after Kansas City. As of 2013, the St. Louis Metropolitan Area is home to nine Fortune 500 companies, the third-highest concentration in the Midwestern United States. St. Louis itself is home to two of those companies, Peabody Energy and Ameren. Health Care and biotechnology institutions with operations in St. Louis include Pfizer, the Solae Company, Sigma-Aldrich and Multidata Systems International. St. Louis is a center of medicine and biotechnology. The Washington University School of Medicine is affiliated with Barnes-Jewish Hospital, the fifth-largest hospital in the world. Both institutions operate the Alvin J. Siteman Cancer Center. The School of Medicine is also affiliated with St. Louis Children’s Hospital, one of the country’s top pediatric hospitals. Boeing employs nearly 15,000 people in its north St. Louis campus, the headquarters to their defense unit.
BROKER OF RECORD: Brad Barham Lic.# 2013016939