December 8, 2021 – Zach Smith of Horvath & Tremblay has successfully completed the sale of a Starbucks & AT&T building in St. Louis, Missouri. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $3,086,000.
The Starbucks & AT&T building is located at 10772-10776 West Florissant Ave in St. Louis, Missouri. The property is a two (2) tenant retail center of 4,305 square feet on a 1.00-acre lot, with 100% occupancy and NNN Leases for both tenants. Starbucks and AT&T each have multiple 5-year renewal options with 10% rental increases at the beginning of each option period. Starbucks also benefits from a drive-thru and outdoor seating, and overall, the property is well maintained. The property is situated in an excellent location on West Florissant Avenue, with traffic counts of 37,800, across the street from a Walmart Supercenter & Sam’s Club. Additional tenants drawing traffic to the area include McDonald’s, National Tire & Battery, QuikTrip, Aaron’s, Planet Fitness, T-Mobile, Family Dollar, Save-A-Lot, Ross, Aldi, Jack in the Box, Walgreens, Dollar Tree, and Many others. Over 103,500 people live within a three-mile radius of the property, with an average household income of $61,311.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.