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Mixed-Use

Greenway Manor

500 Greenway Manor Dr, Florissant, MO 63031

Listing Price: $1,230,000

Cap Rate
9.00%
Gross SF
8,787
Rentable SF
8,787
Price/Gross SF
$139.98
Lot Size
1.00 acres
Year Built
2007

Investment Overview

Marcus & Millichap is pleased to present Greenway Manor, a 8,787-square-foot mixed-use complex located in Florissant, Missouri. Built in 2007, this asset is situated on one acre and is located in northern-St. Louis’ residential corridor. Greenway Manor is currently 100 percent occupied by a mixture of complimentary tenants, which includes Daycare and Healthcare Services. North County Children’s Academy is the sites largest tenant, with 4,617 square feet, which amounts to 53 percent of Gross Leasable Area. North County Children’s Academy is also the newest tenant and is currently undergoing their extensive Class-A buildout. Alongside the Children’s Academy is the sites second largest tenant, S&R Adult Daycare, who occupies 2,970 square feet. S&R Adult Daycare specializes in providing social interaction and medical care to its clients, while relieving their caregiver or his or her duties for the day. S&R joined the site in 2019 and signed an initial 38-month term which runs until July 2022. The final tenant is Majestic Home Healthcare, who is an accredited Home Health Care provider that provides in-home care to the dense demographic surrounding it. Majority of tenants are encumbered by triple net leases which cover Tax, Common Area Maintenance and Insurance. These triple-net reimbursement leave minimal landlord expenses, and the small tenant base allows for ease of management. Investors may take advantage of this opportunity to enhance their real estate portfolio’s by adding a quality, diversified center in one of the nation’s top MSA’s.

Investment Highlights

  • 8,787 Square Foot Medical/Service Complex in St. Louis, Missouri (Population Over 2.8 Million)
  • Complimentary Tenant Mix – Child Daycare, Adult Daycare and Medical Services
  • Built in 2007 and Renovated for Tenant Buildouts – Two Buildings Across One Acre
  • Majority of Gross Leasable Area Reimburses for Triple-Net Expenses
  • Cheap Rents with Extensive Buildouts; Average Rent Per Square Foot = $12.35 Per Square Foot
  • Irreplaceable Real Estate Between Greenway Chase Drive, Greenway Manor Drive and Patterson Road; High Visibility Seeing Over 39,000 Vehicles Per Day

Exclusively Listed By

Broker of Record

  • Bradley Barham

    First Vice President Investments

    (314) 889-2500

    License(s) MO: 2013016939

    Missouri

Listing Price: $1,230,000

Cap Rate
9.00%
Gross SF
8,787
Rentable SF
8,787
Price/Gross SF
$139.98
Lot Size
1.00 acres
Year Built
2007

Investment Highlights

  • 8,787 Square Foot Medical/Service Complex in St. Louis, Missouri (Population Over 2.8 Million)
  • Complimentary Tenant Mix – Child Daycare, Adult Daycare and Medical Services
  • Built in 2007 and Renovated for Tenant Buildouts – Two Buildings Across One Acre
  • Majority of Gross Leasable Area Reimburses for Triple-Net Expenses
  • Cheap Rents with Extensive Buildouts; Average Rent Per Square Foot = $12.35 Per Square Foot
  • Irreplaceable Real Estate Between Greenway Chase Drive, Greenway Manor Drive and Patterson Road; High Visibility Seeing Over 39,000 Vehicles Per Day

Investment Overview

Marcus & Millichap is pleased to present Greenway Manor, a 8,787-square-foot mixed-use complex located in Florissant, Missouri. Built in 2007, this asset is situated on one acre and is located in northern-St. Louis’ residential corridor. Greenway Manor is currently 100 percent occupied by a mixture of complimentary tenants, which includes Daycare and Healthcare Services. North County Children’s Academy is the sites largest tenant, with 4,617 square feet, which amounts to 53 percent of Gross Leasable Area. North County Children’s Academy is also the newest tenant and is currently undergoing their extensive Class-A buildout. Alongside the Children’s Academy is the sites second largest tenant, S&R Adult Daycare, who occupies 2,970 square feet. S&R Adult Daycare specializes in providing social interaction and medical care to its clients, while relieving their caregiver or his or her duties for the day. S&R joined the site in 2019 and signed an initial 38-month term which runs until July 2022. The final tenant is Majestic Home Healthcare, who is an accredited Home Health Care provider that provides in-home care to the dense demographic surrounding it. Majority of tenants are encumbered by triple net leases which cover Tax, Common Area Maintenance and Insurance. These triple-net reimbursement leave minimal landlord expenses, and the small tenant base allows for ease of management. Investors may take advantage of this opportunity to enhance their real estate portfolio’s by adding a quality, diversified center in one of the nation’s top MSA’s.

Exclusively Listed By

Broker of Record

  • Bradley Barham

    First Vice President Investments

    (314) 889-2500

    License(s): MO: 2013016939

    Missouri

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