5055 Highway N, Cottleville, MO

5055 Highway N, Cottleville, MO 63304

Acquisition Date: July 2017
Acquisition Price: $4,525,000
Acquisition Cap Rate: 8.7%
Current Market Value: $4,740,000

Building Size: 58,338 SF
Acquisition Cost per SF:  $77.57
Property Type: Retail/Office Center
Major Tenants: various local tenants
Occupancy: 94%
Investor Returns: Return on investment to investors currently over 22% annually, exceeding projections (not including property appreciation)

Highlights: This property is a quality asset with high visibility, excellent location, strong demographics and stabilized tenancy.  Envision negotiated a below-market acquisition price due to the short remaining term on the existing leases.  Envision believes that the current rents paid by existing tenants are below-market and that the quality of tenants can be improved as the property could attract national tenants.  Envision expects to achieve better returns and take advantage of the upside by increasing base rents and improving the quality of tenants by procuring national tenants over the asset holding period.

Inquire About Investing