Investment Offering
Florissant, MO - Long John Silvers
1230 Graham Rd | Florissant, MO 63031
$1,750,000
Price6%
Cap Rate$104,980
NOI2010
Year Built2,367
± SF Offering GLA0.71
± AC Land AreaDescription
McKelvey Properties in collaboration with SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, franchisee guaranteed, drive-thru equipped, Long John Silver’s investment property located in Florissant, MO (St. Louis MSA). The tenant, HAGA-MOF, LLC, has 11 years of firm term remaining with 4 (5-year) options left to extend. The lease features 10% rental increases every 5 years throughout the initial
term and options, growing NOI and hedging against inflation. The lease is franchisee guaranteed by an established operator, and is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. Founded in 1969, Long John Silver’s has grown into the nation’s largest quick-service seafood chain with over 600 restaurants nationwide. The offering presents an excellent opportunity to acquire a Long John Silver’s and A&W occupied asset, providing a larger food selection for customers.
Location
The subject site is strategically located along Graham Road with clear visibility and access to an average of 26,600 vehicles passing by daily. The asset benefits from direct access onto Interstate 270 (76,600 VPD), a major beltway connecting the St. Louis MSA, making this an ideal and centralized location with easy commutes. The property is ideally situated within a dense retail corridor and is within proximity to Florissant Square (104K+ SF), Grandview Plaza (295K+ SF), Florissant Market Place (149K+ SF), and other shopping centers. The surrounding national/credit tenants include Schnucks, Walgreens, Save-a-Lot, Octapharma, Dollar General, among many others. In addition, the site is directly across from Northwest Healthcare Christian Hospital and Florissant Valley Health & Rehabilitation, two well-known medical facilities dedicated to providing world-class care. Furthermore, the asset is near numerous single-family communities and multi-family complexes including Village Square (148 units), The Reserve at Winding Creek (272 units), Chez Paree (394 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by over 206,600 residents and 86,300 daytime employees, with a healthy annual average household income of $75,580.