6-20 E Springfield Rd
Sullivan, MO 63080
Walgreens Anchored Center · Retail Property For Sale

The two-tenant strip center is anchored by Walgreens, which provides a buyer with 8+ years of consistent cash flow from an investment grade tenant and significant upside through re-leasing the adjacent retail space. Walgreens has operated at the property since 2012 when they signed a new 15-year lease as part of their acquisition of Strauser Drugs. Strauser Drugs had established roots in Sullivan and rather than compete with a new store, Walgreens opted to acquire the existing operator. Walgreens fills the majority of pharmaceutical orders for seniors in the surrounding counties. Sunflower Cottage, the other tenant, sells antiques and home decor items. Sunflower Cottage has a lease expiration in 2020. The purchase price is based on the Walgreens rent only, allowing a new owner to add immediate value and cash flow by securing a new tenant for the Sunflower Cottage space. The property is situated in the middle of Sullivan at the intersection of East Springfield Road and North Church Street. Directly across the street from the property is the First State Community Bank and immediately north is a dense concentration of national retailers including Lowe's, Walmart, Starbucks, Aldi, AT&T, Hibbett Sports, O'Reilly Auto Parts, Dollar Tree, McDonald's, Arby's, Dollar General, Jack in the Box, AutoZone, KFC, Applebee's, Taco Bell, Steak 'n Shake, plus many others. Interstate 44, a major US highway that connects St. Louis with Jefferson, is approximately half a mile north of the property. There's a handful of hotels in the area such as America's Best Value Inn, Super 8, Baymont by Wyndham, and Motel 6. There are no other Walgreens with an 18-mile radius of Sullivan.