Sunrise Center ll

O’Fallon | IL (St Louis MSA)

Offering Summary

  • Status: active
  • Price: $3,100,000
  • CAP Rate: 8.2%
  • GLA: 16,435 SF
  • Net Operating Income: $254,054
  • Price/SF: $189
  • Year(s) Built: 2006
  • Lot Size (Acres): 1.96
  • Lease Type: NNN
  • Major Tenants: DP Golf Indoors, Ray’s Restaurant, Song Martial Arts, KOBBQ, Inc.
  • 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 | 4% NOI Growth by End of 2026
  • 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