St. Louis, MO
- In operation for 25 years, term is currently extended to September 30, 2026.
- Larger drugstore building footprint at modest $14 per square foot in rent.
- Roof was replaced in 2021 and carries a transferrable 15-year warranty.
- Near South City Hospital, a 178-bed hospital in the center of S St. Louis.
Rental income guaranteed by Walgreens corporate (S&P BBB-) investment grade Fortune 500 Company with over 9,000 locations. The property was built in 1996 and has been in operations for 25 years. The term is currently extended to September 30th, 2026. The subject property's roof was replaced in 2021 and carries a transferrable 15-year warranty. The subject property has a building square footage of 17,780 square foot with a drive thru. Walgreens is paying a modest $14 per square foot in rent allowing for minimal downside risk.
South City Hospital is a 178-bed hospital in the center of South St. Louis providing acute care, intensive care, surgical services, lab procedures and behavioral health treatment to patients. Less than two miles northwest of the building is Anheuser-Busch Co. with 15,000 employees across all locations and approximately 6,000 in the St. Louis area.
The subject property is located 4 miles south of Downtown St. Louis just west of the Mississippi River at the border between Missouri and Illinois in the St. Louis MO-IL metropolitan statistical area with approximately 3,000,000 residents. There are approximately 271,785 residents and about 105,859 households within a 5-mile radius of this building.
