NNN Investment Advisors is pleased to present the opportunity to purchase a 100% fee simple interest in the two tenant retail center located in the desirable Florissant area of St. Louis, MO. The property is 100% leased by co-tenants, DaVita Dialysis and T-Mobile. The property is an outparcel facing the North County Festival Shopping Center. North County Festival is home to Wal-Mart, Sam’s Club, Big Lots, Cingular Wireless, Radio Shack and many more national credit tenants. This is a high traffic location at a stoplighted intersection in a strong retail destination for this trade area.
Built in 1991, this is an attractive, well maintained property with clear visibility and access at the busy intersections of Florissant Ave. and Pershall Rd. The total rentable SF is 10,645 on a one acre out parcel lot. DaVita Dialysis occupies 75% of total building and T-Mobile occupies the remaining 25%, both with slightly over 4 years remaining on the lease. The property has a stabilized NOI of $174,657.84. DaVita Dialysis and T-Mobile both currently operate under NNN leases with minimal landlord responsibilities. Tenants are responsible for their pro rata share of taxes, insurance and CAM. Subject to reimbursement by Tenant.