Flex Space with Four Garage
For Sale
$1,200,000
888 Commercial Boulevard, Herculaneum, MO 63048
Commercial Sale, Herculaneum, MO
Property Size3,900 SF
Lot Size0.63 Acres
Price / SF$307.69
Days on Market60
Property Features for 888 Commercial Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Fencing
Chain Link
Subdivision
398 - Herculaneum
Standard status
Active
APN
10-9.0-30.0-1-001-005
Lot size
0.63 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
PT US SURVEY 2977
Tax Annual Amount
4185
Legal Description
PT US SURVEY 2977
Utilities
Utilities
Natural Gas Available
Heating system
Electric (Heating)
Water source
Public
Amenities
heated flooring system
customer check-in area
full bathroom
kitchen/breakroom
mini-split systems
metal siding
Building Details
Year built
2005
Floors in Building
1
Building materials
Metal Siding
Listing Agency:
Wright Living Real Estate, LLC
(636) 638-2220
Listed By:
Susan Wright · License #1999108490
(314) 540-9222
Added: Jul 9
Changed: Aug 28
Last Checked: Sep 6 at 6:06AM
MLS# 25059476
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 2005 flex property includes 3,000 square feet of shop area and 900 square feet of office space. Four garage bays support automotive or service-oriented operations, while the office component provides a customer check-in area, separate large office, full bathroom, kitchen/breakroom, and additional open space for storage or office use. Mini-split systems provide heating and cooling, and the newer larger garage has heated flooring. Metal siding, chain-link fencing, and ample parking are also included.
The property fronts US Highway 61 in Herculaneum, Missouri, placing the building along a documented high-traffic commercial corridor. The site encompasses 0.63 acres, with public water and natural gas available.
The property fronts US Highway 61 in Herculaneum, Missouri, placing the building along a documented high-traffic commercial corridor. The site encompasses 0.63 acres, with public water and natural gas available.
Key Highlights
- 3,000 square feet of shop area plus 900 square feet of office space
- Four garage bays with a heated flooring system in the newer larger garage
- Office area includes customer check‑in, separate office, full bathroom, and kitchen/breakroom
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
$62,292
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
5.19%
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%
$1,245,840
$1.2M
Cap Rate 7%
$889,886
$889.9K
Cap Rate 9%
$692,133
$692.1K
Market Conditions
NOI Build-Up for 3,900 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
$94.1K $24.12/SF
− Vacancy
−$5.1K −$1.30/SF
EGI
$89.0K $22.82/SF
− OpEx
−$26.7K −$6.85/SF
NOI
$62.3K $15.97/SF
Area
Jefferson County, MO
Vacancy
5.40%
Lease Rate
$24.12 /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%
$1,245,840
Cap Rate 7%
$889,886
Cap Rate 9%
$692,133
Alternative Uses
Best Use
Retail
$889.9K
$778.7K – $1.04M
NOI $62,292 @ 7.0% cap · market cap 5.19%
Second Best
Industrial
$240.6K
$210.5K – $280.7K
NOI $16,841 @ 7.0% cap · market cap 1.40%
Theoretical Best
Specialty Retail
$11.58M
$10.13M – $13.51M
NOI $810,783 @ 7.0% cap · market cap 67.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Drive-in doors
4
Service bays
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
90
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 63048, MO
4,219
Population
1,657
Households
2.5
Avg Household Size
39
Median Age
24%
College-Educated
93%
High-School Grad
3.6 sq mi
ZIP Area
1,172
Density / Sq Mi
$89,611
Median Household Income
$52,802
Median Earnings
$2,158
Median Rent
$216,300
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 - Highway-oriented commercial building combines service space, offices, customer reception, and on-site parking.
Where is this flex space located?
The property is located at 888 Commercial Boulevard Herculaneum, MO.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 3,000 square feet of shop area plus 900 square feet of office space; Four garage bays with a heated flooring system in the newer larger garage; Office area includes customer check‑in, separate office, full bathroom, and kitchen/breakroom
