BMO Harris Bank
| Status | Sold |
|---|---|
| Price | $3,500,000 |
| Cap Rate | 5.64% |
| NOI | $197,253 |
| Lease Type | Absolute NNN |
| Lease Term | 10 Year |
| Lease Start | December 2015 |
| Lease Expiration | December 2025 |
| Building Size | 8,147 SF |
| Lot Size | 56628 AC |
Overview
This location is 14 miles from downtown St. Louis. The property, situated along South Lindbergh Boulevard, consists of 8,147 square feet of improvements. With a traffic count of 20,000 vehicles per day, the site features excellent visibility and accessibility with 43 parking spaces and five drive-thrus.
The site benefits from its location in a major retail hub which includes many shopping centers within the immediate area. Notable retail destinations include Ronnie’s 20 Cine and Schnuck’s, a prominent regional grocery store. A dense residential neighborhood surrounds the commercial area and further enhances the viability of the branch.
Within a 5-mile radius, the population and average household income are approximately 213,000 and $80,000, respectively. This branch had substantial bank deposits of over $161 million, a testament to the long-term success at this location.
