Quik Trip - St. Louis, MO (Store #638)
2851 Gravois Avenue, St. Louis, MO, 63118, US
£4,874,000 | 5,885 sf
Asset Description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee-simple interest in a single-tenant QuikTrip located at 2621 Woodson Road, Overland, MO.
The Property was purpose-built for the Tenant in 1990. In June 2024, QuikTrip exercised its fourth, five-year extension. Furthermore, in June 2024, the Tenant added two more 5-year renewal options into its lease through December 2044. The lease features ±4.8 years of lease term remaining, zero landlord expense responsibilities, and three, five-year renewal options.
Located ±13 miles northwest of downtown St. Louis in a dense community with over 230,000 residents in a 5-mile radius, the Property is positioned in an excellent location just west of I-70 (65,000 VPD). The Property’s retail corridor performs exceptionally well with 3.4% vacancy and 12.4% rent growth since 2020.
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Attributes
Asking price
£2,465,000
Cap rate
6.1%
WALT
4.8 years
Building area net
3,200 sf
Occupancy
100%
Year built
1990
Land area gross
0.9 acres
Media
Investment Highlights
- Strategically located near I-70, St. Louis' primary thoroughfare
- Purpose-built for QuikTrip in 1990 (35-year occupancy)
- QT is the exclusive gas/c-store within a one-mile radius
- Recently renewed for a 5-year term and added two more 5-year renewal options to its lease
- Corporate guaranty from QuikTrip Corporation ("QT")
- Among the largest c-store operators with 1,085+ locations and $11B+ in revenue
- Absolute NNN lease with zero landlord expense responsibilities
- Hard corner & signalized intersection with 27,000+ VPD
- Over 233K population and nearly 12,000 businesses in a 5-mile radius
Contact brokers
QuikTrip - Overland, MO (Store #630) (0 Properties)
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Last updated
29 Jan 2025
