187 Carondelet PlzClayton, MO 63105

For Sale
$12,500,000

High-Occupancy Retail Portfolio in Prime Location

Overview

Added:
Dec 11, 2024
Days on market:
93
Exceptional investment opportunity in the heart of Clayton, Missouri, this 26,637 square foot, single-story retail condominium boasts a 100% occupancy rate and a strong NOI of $952,355, generating a 7.62% cap rate. The property, built in 2008, features a diverse mix of tenants including a PNC Bank with a drive-thru ATM and 801 Chophouse, a high-performing restaurant with significant sales. These anchor tenants, occupying 58% of the revenue and 52% of the gross leasable area (GLA), have long-term leases extending well into the future. The property includes 84 covered parking spaces in an adjacent garage, providing ample convenience for customers. Situated at the base of a luxury residential condominium, the Shoppes at the Crescent benefits from a high daytime population and proximity to affluent residential areas. Its location at the lighted intersection of Carondelet Plaza and Hanley Road ensures high visibility and accessibility. The property's strategic location, strong tenant mix, and impressive financial performance make it an ideal investment for discerning buyers seeking a stable, high-return asset in a prime St. Louis market. The asking price is $12,500,000. The property consists of ten units across one building and is classified as a Core+ investment. APN numbers are 18J111700

Highlights

  • Fully Leased Center in Clayton, MO
  • High daytime population density
  • Strong, recession-resistant tenant base
  • Adjacent to a Ritz-Carlton hotel
  • Located near Kaldi's Coffee, a top-rated coffee chain
  • Close proximity to luxury residential properties

Property Details for 187 Carondelet Plz

Property type
Lifestyle centers, Power centers
Square Feet
26,637 SF
Year Built
2008
Buildings
1
Stories
1
Units
10

Location Insight

City
Clayton
County
St. Louis
State
Missouri
Latitude
38.6487375
Longitude
-90.3333876
187 Carondelet Plz, Clayton, Missouri

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187 Carondelet Plz
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