Ridgecrest Crossing

Arnold | MO (St. Louis MSA)

Offering Summary

  • Status: just listed
  • Price: $10,340,000
  • Cap Rate: 6%
  • GLA: 19,699 SF
  • Net Operating Income: $614,433
  • Price/SF: $525
  • Year(s) Built: 2015
  • Lot Size (Acres): 3.57
  • Major Tenants: SSM Health, Smoothie King, Verizon Wireless, Jimmy John's, Cold Stone Creamery
  • 100% Occupied, 19,699 SF Single-Tenant Medical + 4-Tenant NNN Strip Offering in Arnold, MO (St. Louis MSA)
  • 7.5 Years WALT; Positioned in Shadow of Top Performing Walmart Supercenter (#2 of 121 in MO, Top 5% Nationally, 3.2M Annual Visits) & Schnucks Grocery
  • Prime Hard Corner Location – 25,400 VPD Intersection; Directly Between Highway Exit and Primary Entry/Roadway to both Schnucks & Walmart
  • SSM Health Primary Care & Urgent Care – Occupies Entire 12,564 SF Strip Center Building as a Single Tenant on an NNN Lease
    • Tenant Since 2015; In 2023, Tenant Expanded Premises by 18% (1,926 SF), and Extended Lease for 8.5 Years Beyond Original 2025 Expiration
    • SSM Health Parent Entity Carries S&P “A+” Investment-Grade Credit Rating
    • Separately Parceled with Defined NNN PRS of 100% of Building 1 Expenses; Facilitating Ease of Spin-Off if Desired
    • 64% of GLA & Contributes 66% of Offering Gross Income; Nearly 9 Years of Term Remaining with Scheduled $18K Rent Increase in 2030
    • 20-Minute Drive from Nearest of SSM Health’s 8 Major Hospitals/Medical Centers in St. Louis; Proximity of SSM-Owned Facilities Mitigates Future Relocation/Consolidation Risk
    • #2 Largest Health System in St. Louis MSA (Behind BJC) with Broad Insurance Coverage & Large Patient Base in Region
    • #4 Largest Employer (Excluding Walmart) in St. Louis MSA with 15,600 Local Employees (11,500 FTE); Catholic-Affiliated, Non-Profit Health System in Operation Since Late 1800’s
  • 7,135 SF Nationally-Tenanted Strip Center with 4 Tenants is 36% of GLA and Contributes 34% of Offering Gross Income
    • No Single Strip Center Tenant is Responsible for More Than 28% of Strip Center Gross Income or 10% of Overall Offering Gross Income
    • 3 of 4 Tenants are Restaurants/Food Service with Commensurate Food Service Infrastructure/Expensive Build-Outs
  • Jimmy John’s – Tenant Since 2015 in Endcap with Drive-Thru; Local Multi-Unit Franchisee; Just Exercised 5-Year Option thru 11/2030
  • Verizon (Cellular Sales) – One of the Largest Verizon Authorized Retailers with Over 750 Stores in 42 States; Tenant Since 2015 in Prime Endcap Unit; Just Exercised 5-Year Option thru 11/2030
  • Cold Stone Creamery – Leased thru 11/2029 with Below-Market Rent of $22.55/SF NNN
  • Smoothie King – 10-Year Lease thru 1/2030; Local, 4-Unit Franchisee
  • All NNN Leases with 100% Recovery of Landlord Tax, Insurance, and CAM Expenses
  • Excellent Physical Fundamentals: A+ Visibility via Hard Corner, 400+ Feet of Primary Frontage & Shallow Setback; 2 Points of Ingress/Egress, 2015-Built CMU/Masonry Exterior with Modern/Attractive Facades
  • Just 0.6-Mi from I-55 Exit Ramps at Highway 141; I-55 Sees 94,500 VPD & Highway 141 Sees 19,900 VPD
  • Dense Middle-Income Demographics: 8,200/1-Mi & 52,800/3-Mi Population Counts; AHHI of $80-100K in All Radius Rings
  • St. Louis MSA – Home to a Population of 2.8 Million with Major Employers Including BJC Health, Washington University, Boeing, General Motors, St. Louis University, Centene, Edward Jones, and More
EXCLUSIVELY LISTED BY:

Craig Fuller

Senior Managing Director