1334 Central Park Dr - Storefront Retail/Office FOR SALE


O'Fallon, IL 62269
$3,100,000 USD
614-961-9943
1334 Central Park Dr, O'Fallon, IL for Sale
$3,100,000 USD
Storefront Retail/Office - FOR SALE
1/15
null | 8.2% Cap Rate

1334 Central Park Dr
O'Fallon, IL 62269


OVERVIEW

• 100% Occupied 16,435 Square-Foot Strip Center Located in O’Fallon, IL | Part of the St. Louis-MSA with Over 2.8m People • Situated in Regions #1 Retail Corridor with Over 2.7m Square-Feet of Retail |Immediately Surrounded by Major Traffic Drivers Including: Walmart (Ranks Top 30% with Over 2.5m Customers Per Year), Sam’s Club (Ranks Top 18% with Over 2.1m Customers Per Year), and Marcus Theaters (Ranks Top 7% in Country with Over 600k Customers Per Year) • Premier Strip Center which Caters Extremely Well to Regional Demographics | National & Regional Service-Base/ Ecommerce-Proof Tenant Mix Which Includes Restaurant/Food, Medical Supplies, Financial, Indoor Golf, and Martial Arts • Major Tenants Include BB.Q Chicken, Ray’s Restaurant, DP Golf Indoors, Global Medical, One Main Financial, and Song Martial Arts • 5/6 Tenants have Annual Rental Increases | Major NOI Growth During Base-Term • BB.Q Chicken | One of the Fastest Growing Franchises in the World with Over 3,500 Locations Across 57 Counties | Ranks Top 20% In Country and #1 Location in Illinois Per Placer.Ai | Major Traffic Driver for Center with Over 53,600 Customers Per Year • Modest but Growing Rental Rates Currently Averaging Only $15/SF | BB.Q Chicken Just Signed New Leases at $17.34/ SF which is 14% Higher Than Center Average and Includes 2% Annual Bumps | Global Medical Signed Lease in 2023 at $16/SF which is 6% Higher Than Center Average • Song Martial Arts and One Main Financial are Sites Longest Standing Tenants with Over 18.5-Years of Operational History | Accounts for 30.43% of GLA | No Remaining Options Beyond Current Term • Landlord Favorable NNN Lease Structures | Full Recapture of Operating Expenses Including Taxes, Common Area Maintenance, Insurance + 3rd Party Management Fees • Prime Hard-Corner Location Seeing Over 24,427 Vehicles Per Day | Situated Less Than 0.3 Miles from I-64 On/Off Ramp | I-64 Sees Over 78,800 Vehicles Per Day • Dense and Affluent Demographics with Population Counts of 42,296 People within 1-Miles, 91,623 People within 3-Miles | Average Household Income In Excess of $115,000 • Consumer Spending within 5-Miles Exceeds $1.265 Billion Per Year | Region Includes Major Names Such as: Target (2 locations within 5-mile radius), Schnucks, HomeDepot, Burlington, Golf Galaxy, Dick’s, Hobby Lobby, HomeGoods, Lowe’s, Menards, Dierbergs, Aldi, Fresh Thyme, Chick-Fil-A, Raising Cane’s, Texas Roadhouse, Culvers, Starbucks, Chipotle, an Array of Small Shops • O’Fallon is the 2nd Largest City in the Metro-East Region + Southern Illinois | Only 18-miles from Downtown St. Louis | St. Louis-MSA is the 23rd Largest Metro in the US | Home to Over 2.8m People | HQ for 10 Fortune 500 Companies + 6 Fortune 1000 Companies

FOR SALE DETAILS

PRICE

$3,100,000 USD

PRICE/SF

$189 USD /SF

CAP RATE

8.2%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sunrise Center II

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2006

SPRINKLERS

-

PARKING SPACES

112

LAND DETAILS

LAND ACRES

2.01 AC

LAND SF

87,556 SF

ZONING

Commercial

APN/PARCEL ID

03-25.0-301-009

ASK ABOUT THIS PROPERTY

Zachary TurnerMarcus & MillichapMore Info
614-961-9943

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Zachary TurnerMarcus & MillichapMore Info
614-961-9943

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.