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North Oaks Plaza, a fee-simple, multi-tenant shopping center in St. Louis, Missouri, presents a compelling investment opportunity. This 268,893 square foot retail property, situated on 18.33 acres at the intersection of Natural Bridge Road and Lucas-Hunt Road, offers a strong 8.26% cap rate and a Net Operating Income (NOI) of $1,744,427. The property consists of five buildings, including three one-story retail structures and a three-story office building, totaling 68 units with 94.9% occupancy. The asking price is $21,130,000. Built in 1962, the center has undergone significant renovations in 1994, 2007, 2021, and 2023, including over $3,000,000 in improvements in 2021. These renovations encompassed upgrades to the GSA Social Security and Dedicated Senior Medical Center spaces, parking lot improvements, a new TPO roof for Save A Lot, and fresh paint throughout. Ample parking is provided at a ratio of 3 spaces per 1,000 square feet. The property benefits from high visibility and multiple access points, including four entrances on Natural Bridge Road (11,295 vehicles per day), one of which is a semi-signalized intersection, and additional access via O’Neil Avenue. The property is zoned D and features rent bumps. The strong tenant base includes 68 credit-rated tenants. Nearby outlots include Walgreens and McDonald's, further enhancing the property's appeal. APN: 15H-63-1891, 15H540920.
Highlights
North Oaks Plaza offers 268,893 square feet of rentable space on 18.33 acres at the hard corner of Natural Bridge Road and Lucas-Hunt Road.
The property comprises three single-story retail buildings and a three-story office building totaling 268,893 SF of retail and 25,023 SF of office space.
Substantial renovations were completed in 1994, 2007, and 2021. Ample parking is provided (4 spaces per 1,000 SF).
Over $3,000,000 was invested in 2021 renovations, including upgrades to the GSA Social Security and Senior Medical Center spaces, parking lot improvements, a new roof for Save A Lot, and fresh paint throughout.
The plaza benefits from strong co-tenancy with Walgreens and McDonald's (top 15% and top 30% performers nationally, respectively), and Simmons Bank. These outlots are not included in the sale.
The property features excellent visibility and multiple access points, including four entrances on Natural Bridge Road (11,295 VPD), one at a semi-signalized intersection, plus rear access via O’Neil Avenue and a nearby fully signalized intersection at Natural Bridge and Lucas-Hunt Roads.
Property Details
for 1 Oaks Plz Saint Louis Mo 63121 St
Property type
Lifestyle centers, Power centers
Year Built
1962
Buildings
5
Stories
2
Lot Size (sq. ft)
798,455 SF
Units
68
Location Insight
City
St. Louis
County
St. Louis
State
Missouri
Latitude
38.7014491
Longitude
-90.2910601
1 Oaks Plz Saint Louis Mo 63121 St, St. Louis, Missouri
Nearby Similar for Sale
For Sale
$1,600,000
Kingshighway Blvd Redevelopment Opportunity
Prime St. Louis location, vacant, redevelopment potential.
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1 Oaks Plz Saint Louis Mo 63121 St, St. Louis, Missouri, 63121
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
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