5959 Saint Louis Avenue
- 5959 Saint Louis Avenue, Saint Louis, MO 63120
- Property Type:
- Single Tenant
- Cap Rate:
- 7.73% cap
- Square Feet:
- 33,475 sqft
- Lot Size:
- 1 acre
- Price Per Square Foot:
- Year Built:
• Located 0.75 Miles from State Road 115 and 1.8 Miles from I-70
• Tight Barrier-to-Entry Submarket with No New Industrial Properties Under Construction
• Vacancy in this Submarket is 5%, Given the Low Vacancy, Market Rent Growth has Averaged 3.1% Over Five Years
• Sealtite was Founded in 1946 and is AS9100D Certified
• Sealtite Works Closely with Industry Leaders Such as Boeing, Emerson Electric, Lincoln, and US Government Entities
• Located in an Opportunity Zone Which Could Lead to Reduction in Taxes
• Parking Lot was Resurfaced Two Years Ago
Marcus & Millichap is pleased to present the opportunity to acquire the property located at 5959 Saint Louis Avenue in Saint Louis, Missouri, leased to Sealtite Corporation. The subject property consists of approximately 33,475 square feet of space and is situated on one acre of land. The asset features a recently resurfaced parking lot. Located just 0.75 miles from State Road 115 and 1.8 miles from Interstate 70, the property is in an opportunity zone that offers tax reductions that coincide with the lease term. The property is situated in St. Louis City North, a submarket with a tight barrier-to-entry. With no industrial properties under construction, the vacancy rate in St. Louis City North ended the second quarter at just 5 percent. Over the last five years, market rents have grown 3.1 percent on average (CoStar).
Since 1946, Sealtite Corporation has been an industry leader in developing and producing seals and gaskets that extend the life of user products. Sealtite’s customers include industry leaders such as Boeing, Emerson Electric, Lincoln, and various entities of the U.S. Government. Meeting Military and Aerospace specifications, Sealtite Corporation is certified AS9100D.
The St. Louis metro is near the geographic center of the United States, within 500 miles of one-third of the U.S. population, and has more than 2.9 million residents. The metro encompasses the city of St. Louis; the Missouri counties of St. Charles, Jefferson, Franklin, St. Louis, Lincoln, Warren and Washington; and the Illinois counties of Madison, St. Clair, Macoupin, Clinton, Monroe, Jersey, Bond and Calhoun. St. Louis is the most populous county with 1 million people. The city of St. Louis, which is located at the confluence of the Mississippi and Missouri rivers, is the only city in the metro with a population of more than 300,000 citizens. As Saint Louis continues to be a desirable industrial market for investors, a recent report ranked Saint Louis as the tenth industrial market to watch in 2019.