Mixed-Use

Parkridge Plaza

Listing Price: $1,000,000

Cap Rate
9.27%
Gross SF
19,760
Rentable SF
9,320
Price/Gross SF
$50.61
Lot Size
3.66 acres
Year Built
1967

Investment Overview

Marcus & Millichap is pleased to present the Parkridge Plaza Mixed use Retail/Office/Medical property located at 9181-9197 and 9227-9231 West Florissant Ave in North St Louis County. The Property is located less than .5 miles from Emerson's World Headquarters and Buzz Westfall Shopping Center and across the street from the new Boys & Girls Club of Greater St Louis.

Parkview Plaza serves a 3 mile population of over 113,000 with a median household income of $37,530. The average daily traffic counts on West Florissant are 29,230 vehicles per day with a peak 24 hour volume of 33,858 vehicles per day. The Property consists of 2 buildings, a 22,914 square foot 2 story office retail mixed use building which is 98% occupied on 2.42 acres of land. The second property, 9227-9231 W Florissant Ave consists of a 8260 square foot building on 1.24 acres. The two properties consist of 3.66 acres when consolidated. Ownership spent over $200,000 in capital improvements in 2015 to roof and parking lot. In 2019 the Property generate Net Operating Income of $115,970 on $233,310 of Rental Income. Retail Tenants include service essential tenants such as Liberty Tax, Progressive Insurance, Crystal Nails, Secret Stylz on the first floor and a mix of long term service and medical oriented office tenants on the second floor.

The investor has an excellent opportunity to create value by converting short leases to long term triple net leases providing predictable stable cash flow to the investor. Tenants in the area include Schnucks, McDonalds, Family Dollar, Burger King, Wendys,Walgreen's,NAPA Auto Parts, O'Reilly Auto Parts, Davita Dialysis and National Rent to Own.

Investment Highlights

  • Stabilized Mixed Use Retail-Office-Medical Building with Long Term Tenants in place
  • Stable Cash Flow
  • Emerson World HQ & Buzz Westfall Center within 1/2 mile
  • New Roof (2015) with 10 Years Warranty
  • 113,000 Population within 3 Mile Radius
  • 29,000 Average Daily Traffic

Exclusively Listed By

Listing Price: $1,000,000

Cap Rate
9.27%
Gross SF
19,760
Rentable SF
9,320
Price/Gross SF
$50.61
Lot Size
3.66 acres
Year Built
1967

Investment Highlights

  • Stabilized Mixed Use Retail-Office-Medical Building with Long Term Tenants in place
  • Stable Cash Flow
  • Emerson World HQ & Buzz Westfall Center within 1/2 mile
  • New Roof (2015) with 10 Years Warranty
  • 113,000 Population within 3 Mile Radius
  • 29,000 Average Daily Traffic

Investment Overview

Marcus & Millichap is pleased to present the Parkridge Plaza Mixed use Retail/Office/Medical property located at 9181-9197 and 9227-9231 West Florissant Ave in North St Louis County. The Property is located less than .5 miles from Emerson's World Headquarters and Buzz Westfall Shopping Center and across the street from the new Boys & Girls Club of Greater St Louis.

Parkview Plaza serves a 3 mile population of over 113,000 with a median household income of $37,530. The average daily traffic counts on West Florissant are 29,230 vehicles per day with a peak 24 hour volume of 33,858 vehicles per day. The Property consists of 2 buildings, a 22,914 square foot 2 story office retail mixed use building which is 98% occupied on 2.42 acres of land. The second property, 9227-9231 W Florissant Ave consists of a 8260 square foot building on 1.24 acres. The two properties consist of 3.66 acres when consolidated. Ownership spent over $200,000 in capital improvements in 2015 to roof and parking lot. In 2019 the Property generate Net Operating Income of $115,970 on $233,310 of Rental Income. Retail Tenants include service essential tenants such as Liberty Tax, Progressive Insurance, Crystal Nails, Secret Stylz on the first floor and a mix of long term service and medical oriented office tenants on the second floor.

The investor has an excellent opportunity to create value by converting short leases to long term triple net leases providing predictable stable cash flow to the investor. Tenants in the area include Schnucks, McDonalds, Family Dollar, Burger King, Wendys,Walgreen's,NAPA Auto Parts, O'Reilly Auto Parts, Davita Dialysis and National Rent to Own.

Exclusively Listed By

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