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Prime Investment Opportunity: Dive into a lucrative venture with the expansive North Oaks Plaza, boasting a vast 268,893 Sq. Ft. retail expanse and a thriving annual Gross revenue surpassing $2,484,000
Offer Price: $ 23,130,000
Net Operating Income (NOI): $1,744,427.11
Capitalization Rate: 7.5%
Occupancy: A robust 94.9%
North Oaks Plaza spans 268,893 square feet of rentable space, covering roughly 18.33 acres at the meeting point of Natural Bridge Road and Lucas-Hunt Road, positioned at the northeast corner.
• The property features three one-story retail establishments and a three-story office structure. The total retail space available for lease is 268,893 SF, and the office space sums up to 25,023 SF.
• Initially established in 1963, the center has seen significant renovations in the years 1994, 2007, and the latest in 2021. A vast parking area accommodates 4 parking slots for every 1,000 square feet of space, providing tenants a distinctive advantage in such a densely-packed area.
• In 2021, the property benefited from an investment exceeding $3,000,000. This fund facilitated fresh renovations for GSA Social Security and Dedicated Senior Medical Center spaces, parking lot improvements, a new TPO roofing for the Save A Lot outlet, and a fresh paint coat for the plaza and the professional building.
• The plaza is neighbored by standalone outlots, including Walgreens, McDonald’s, and Simmons Bank. These establishments enhance the overall traffic to the plaza and contribute to its vibrancy. As per data from Placer.AI, the McDonald’s outlet ranks in the top 30% of its locations nationwide, and the Walgreens is among the top 15%. However, these outlots aren't included in the plaza's offerings.
• North Oaks Plaza boasts impressive visibility and multiple entrance and exit points, granting convenient access from any route. It has four entryways on Natural Bridge Road (11,295 VPD), one of which is a semi-signalized intersection. The plaza can also be reached through alternate paths, including a rear entrance on O’Neil Avenue via Pasadena Boulevard. Additionally, a fully signalized junction lies close by, at the confluence of Natural Bridge Road and Lucas-Hunt Road, managing the dense traffic of these prominent routes.
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Convenience
General Amenities:
Cable Internet, Sprinkler System, Wood Stove
Appliance Amenities:
Microwave, Dishwasher
Exterior Amenities:
Fruit Trees
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Address: 1-175 North Oaks Plaza, Saint Louis, 63121, MO
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Categories: Shopping Centers |
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Type: For sale |
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Current |
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tony@stlbroker.net
314-267-4408
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