Flex Space with 14-Foot Clear
For Sale
$675,000
8213 Gravois Road St, Louis, MO 63123
COMMERCIAL - St Louis, MO
Property Size13,423 SF
Lot Size0.41 Acres
Price / SF$50.29
Days on Market252
Property Features for 8213 Gravois Road St
General Information
Property type
Commercial Sale
Property subtype
Retail
Subdivision
Ludwig
Standard status
Active
APN
25H-42-0131
Size
13,423 SF
Lot size
0.41 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
LUDWIG LOT PT 12 LOC 72 FT NE OF HEEGE
Tax Annual Amount
18512
Legal Description
LUDWIG LOT PT 12 LOC 72 FT NE OF HEEGE
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Varies by Unit (Heating), Forced Air
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1937
Floors in Building
1
Building materials
Brick, Concrete, Block
Roof type
Flat
Listing Agency:
LuxREco
(314) 892-5200
Listed By:
Gregory Hayden · License #1999021961
(314) 892-5200
Added: Dec 8, 2025
Changed: Aug 4
Last Checked: Aug 17 at 2:06PM
MLS# 24050810
Copyright © 2026 Mid America Regional Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex space combines retail, warehouse, and office use in a 13,423 SF building currently operating as a performance motorcycle shop and woodshop. The property includes flat roof construction with brick, concrete, and block. Key improvements noted include new wiring, sandblasting, and HVAC in the bike shop, with the HVAC reported as five years old. The warehouse portion features newer heaters, insulation, 14 ft clear height, and a garage door.
Set on Gravois, a high-traffic street, the site includes public water and public sewer service. Heating is described as forced air (varies by unit), and cooling includes central air with electric service.
The property is also offered as part of a redevelopment concept with adjacent parcels, creating a continuous 1.82-acre redevelopment site at the signalized intersection of Gravois and Heege (8205 & 8227 Gravois Rd. noted). The lot size for this parcel is 0.41 acres.
Set on Gravois, a high-traffic street, the site includes public water and public sewer service. Heating is described as forced air (varies by unit), and cooling includes central air with electric service.
The property is also offered as part of a redevelopment concept with adjacent parcels, creating a continuous 1.82-acre redevelopment site at the signalized intersection of Gravois and Heege (8205 & 8227 Gravois Rd. noted). The lot size for this parcel is 0.41 acres.
Key Highlights
- 13,423 SF flex retail/warehouse/office building currently used as a motorcycle shop and woodshop
- 14 ft clear height plus newer heaters, insulation, and a garage door
- HVAC in the bike shop reported five years old, with new wiring and sandblasting
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$53,212
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,064,240
$1.1M
Cap Rate 7%
$760,171
$760.2K
Cap Rate 9%
$591,244
$591.2K
Market Conditions
NOI Build-Up for 13,423 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$79.6K $5.93/SF
− Vacancy
−$3.6K −$0.27/SF
EGI
$76.0K $5.66/SF
− OpEx
−$22.8K −$1.70/SF
NOI
$53.2K $3.96/SF
Area
St. Louis County, MO
Vacancy
4.50%
Lease Rate
$5.93 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,064,240
Cap Rate 7%
$760,171
Cap Rate 9%
$591,244
Alternative Uses
Best Use
Warehouse
$923.1K
$807.7K – $1.08M
NOI $64,614 @ 7.0% cap · market cap 9.57%
Second Best
Industrial
$760.2K
$665.2K – $886.9K
NOI $53,212 @ 7.0% cap · market cap 7.88%
Theoretical Best
Office A
$2.88M
$2.52M – $3.36M
NOI $201,657 @ 7.0% cap · market cap 29.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
150
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 63123, MO
50,989
Population
23,208
Households
2.2
Avg Household Size
41
Median Age
36%
College-Educated
92%
High-School Grad
12.5 sq mi
ZIP Area
4,079
Density / Sq Mi
$74,187
Median Household Income
$43,458
Median Earnings
$987
Median Rent
$205,300
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex retail, warehouse, and office space on high-traffic Gravois with 14-foot clear height and central air.
Where is this flex space located?
The property is located at 8213 Gravois Road St Louis, MO.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 13,423 SF flex retail/warehouse/office building currently used as a motorcycle shop and woodshop; 14 ft clear height plus newer heaters, insulation, and a garage door; HVAC in the bike shop reported five years old, with new wiring and sandblasting
