Marcus & Millichap is pleased to offer for sale the fee simple interest in a 13,225-square-foot drive-through pharmacy (the Property) in O’Fallon, MO, in which CVS has over 15 years remaining on its corporately guaranteed triple-net ground lease. The lease features five 5-year renewal options with an 8 percent rent increase at the beginning of each option.
Across Bryan Road from the Property, Mia Rose Holdings is building a mixed-use development called The Prairie Encore with 190 luxury rental units and a drive-through Starbucks opening in fall 2025, a Sugarfire Smokehouse and Macadoodles Wine Cellar already open, and a Circle K coming soon. Beyond The Prairie Encore, McKelvey Homes is constructing single-family homes on 266 homesites in its Inverness development.
O’Fallon, MO, sits 35 miles northwest of downtown St. Louis, MO, and 23 miles west of St. Louis Lambert International Airport (STL). One of the fastest-growing cities in the state of Missouri, O’Fallon offers easy access to Interstates 64 and 70. Major employers include MasterCard, True Manufacturing, MEMC Electronic Materials and BJC Healthcare.
CVS is the largest pharmacy chain the U.S. with 9,144 locations, and around 85 percent of the U.S. population lives within 10 miles of a CVS Pharmacy. The company trades on the New York Stock Exchange under ticker symbol CVS and currently ranks No. 6 on the Fortune 500.
The Property offers an investor the ease of a triple-net ground lease with no landlord responsibilities, the security of a corporately guaranteed lease backed by one of the country’s largest publicly traded companies, and a large corner parcel in a rapidly developing St. Louis suburb.
Broker of Record: David Saverin, Broker of Record, 7800 Forsyth Blvd., Ste. 710, St. Louis, MO 63105, P: (314) 889-2500, Lic #: 2008013520