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Classic Auction - Retail

Nameoki Commons REO – St. Louis MSA

3401-3551 Nameoki Road, Granite City, IL 62040

ClosedSeptember 22nd, 2020
This asset was part of the August 12th, 2020 sale event, resulting in a successful transaction that closed in just 41 days.

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  • Asset Type
  • Real Estate
  • Property Type
  • Retail
  • Land Area
  • 16.61 Acres
  • Year Built
  • 1969
  • Year Renovated
  • 2005
  • Number of Floors
  • 1
  • Number of Buildings
  • 7
  • Parking Count
  • 870
  • Occupancy
  • 35.43%
  • Occupancy as of
  • Jun 30, 2020
  • Retail Type
  • Neighborhood Center
  • Anchor
  • No
  • Property Size
  • 155,380 Sq Ft

Nameoki Commons REO, Granite City, IL

Investment Highlights

  • ±155,380 SF retail center with value enhancement opportunities; 35.4% occupied with ±100,332 SF of available space to be leased
  • Seven single story buildings positioned on four parcels; six of the buildings were built in 2005
  • Positioned in a dense residential submarket of St. Louis with 36,403 people and an average household income of $60,918 within a 3-mile radius
  • Arby’s is positioned on its own parcel
     

Offering Details

CBRE and RealINSIGHT Marketplace are proud to offer Nameoki Commons, a ±155,380 SF retail center located at 3401-3551 Nameoki Road, Granite City, IL 62040 (the “Property”) for purchase.  Well located along the heavily trafficked Nameoki Road/IL 203 (±20,603 vehicles per day) in the St. Louis-NE Metro Illinois MSA, Nameoki Commons presents a unique value-add opportunity for investors to purchase a retail center at an attractive basis in a dense market.  The Property provides multiple investment strategies from its in-place tenancy, value-add upside potential through leasing the vacant big box space, and unique layout being positioned on four parcels totaling ±16.6 AC.

The Property contains seven (7) single story buildings with the main building comprised of a former Shop ‘N Save and in-line tenants, a southern outlot building with in-line tenants, two small strip buildings built in 2005 with in-line tenants facing Nameoki Road, a ground-leased Arby’s built in 2005 on its own parcel, a ground-leased Applebee’s built in 2005, and a rear secondary building that was last occupied by Blessed Threads Thrift Shop. The Property is currently ±35.4% occupied to local, regional, and national tenants including AT&T, Verizon Wireless, Hibbett Sports, Sally Beauty, Cato, Arby’s, Applebee’s, H&R Block, Church’s Chicken, Sprint, and T-Mobile.  The diverse mix of internet resistant tenants have long operating histories, staggered lease expirations, contractual rate increases, and options to extend.  The largest space, a 69,000 SF vacant box formerly occupied by Shop ‘N Save, provides buyers the opportunity to subdivide the space or lease to a new tenant. 

Nameoki Commons is conveniently located on a busy 4-lane thoroughfare and offers excellent ingress/egress with a dedicated turning lane and multiple access points.  The Property offers abundant surface parking spaces and a large pylon sign identifies the Property (and tenants) along Nameoki Road.  The Property is the prominent retail center in the immediate area and benefits from extremely strong demographics (population ±36,403 and an average household income of $60,918 within a 3-mile radius).

Property Tours:  Please contact the CBRE team to arrange your tour. 

Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.

Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.

You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.

ClosedSeptember 22nd, 2020
This asset was part of the August 12th, 2020 sale event, resulting in a successful transaction that closed in just 41 days.

Ready to sell your asset on the platform with the highest trade rate in the industry?
Get Started Today!

Need Help?

Have questions about Marketplace? You can reach us at 800.915.7015 or info@rimarketplace.com.

Auctioneer

  • Scott Bowers

    c/o Fisher Auction Company Inc.

    License: 040000273