Divisible Office/Flex
For Sale
$5,387,400
707 Spirit 40 Park Drive, Chesterfield, MO 63005
Office/flex building with six divisible suites and updated interiors, supported by 280 dedicated parking spaces.
Property Size35,916 SF
Price / SF$150
Days on Market73
Property Features for 707 Spirit 40 Park Drive
General Information
Standard status
Active
Size
35,916 SF
Total Parking Spaces
280
Lease Type
Full Service
Additional Details
Highway Access
Yes
Office Units
6
Taxes and HOA fees
Annual Taxes
$122,462
Amenities
building signage
Industrial, Office
Professional/Office
Other
Public Records
120225.6
Building Details
Year Built
1998
Tenancy
Multi
Listing Agency:
Manor Brokerage, LLC
(314) 707-6949
Listed By:
John Meier · License #2006018085
(314) 707-6949
Source:
Johnmeiersells.idxbroker
Added: Jun 17
Changed: Aug 26
Last Checked: Aug 26 at 9:35AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Manor Brokerage, LLC
Investment Insights
Based on property information with market context.
707 Spirit 40 Park Drive is a 35,916-square-foot office/flex building designed for either owner-users or investors seeking multi-suite occupancy. The floor plan is divisible into six suites, with suite sizes ranging from approximately 2,400 to 13,100 square feet, supporting flexible configurations for a single tenant or multiple tenants. Interior finishes are described as modern and updated throughout.
The property includes 280 dedicated parking spaces. Prominent building signage is available on Chesterfield Airport Road, and the site is immediately adjacent to the $130M Gateway Studios development. The remarks also note direct access to I-64 and proximity to Chesterfield Commons and St. Louis Premium Outlets.
For acquisition or occupancy, the listing provides deal flexibility, including a lease option at $22.00/SF full-service gross (per the offering terms) for qualified parties.
The property includes 280 dedicated parking spaces. Prominent building signage is available on Chesterfield Airport Road, and the site is immediately adjacent to the $130M Gateway Studios development. The remarks also note direct access to I-64 and proximity to Chesterfield Commons and St. Louis Premium Outlets.
For acquisition or occupancy, the listing provides deal flexibility, including a lease option at $22.00/SF full-service gross (per the offering terms) for qualified parties.
Key Highlights
- 35,916 SF office/flex building built in 1998 in the Chesterfield Valley submarket of west St. Louis County
- Divisible floor plan with 6 suites ranging from approximately 2,400 to 13,100 SF for single or multiple tenants
- 280 dedicated parking spaces, a 4.26 per 1,000 SF parking ratio
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
$438,299
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
8.14%
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%
$8,765,980
$8.8M
Cap Rate 7%
$6,261,414
$6.3M
Cap Rate 9%
$4,869,989
$4.9M
Market Conditions
NOI Build-Up for 35,916 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
$801.6K $22.32/SF
− Vacancy
−$217.2K −$6.05/SF
EGI
$584.4K $16.27/SF
− OpEx
−$146.1K −$4.07/SF
NOI
$438.3K $12.20/SF
Area
St. Louis County, MO
Vacancy
27.10%
Lease Rate
$22.32 /SF/Yr
Expense Ratio
25.00%
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%
$8,765,980
Cap Rate 7%
$6,261,414
Cap Rate 9%
$4,869,989
Alternative Uses
Best Use
Office B
$6.26M
$5.48M – $7.30M
NOI $438,299 @ 7.0% cap · market cap 8.14%
Second Best
Industrial
$2.03M
$1.78M – $2.37M
NOI $142,378 @ 7.0% cap · market cap 2.64%
Theoretical Best
Office A
$7.71M
$6.74M – $8.99M
NOI $539,574 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Office units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 63005, MO
19,235
Population
7,322
Households
2.6
Avg Household Size
44
Median Age
81%
College-Educated
98%
High-School Grad
36.5 sq mi
ZIP Area
527
Density / Sq Mi
$202,232
Median Household Income
$103,426
Median Earnings
$1,570
Median Rent
$671,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Office/flex building with six divisible suites and updated interiors, supported by 280 dedicated parking spaces.
Where is this flex space located?
The property is located at 707 Spirit 40 Park Drive Chesterfield, MO.
What is the asking price?
The asking price for this property is $5,387,400.
What are key features of this property?
This property features: 35,916 SF office/flex building built in 1998 in the Chesterfield Valley submarket of west St. Louis County; Divisible floor plan with 6 suites ranging from approximately 2,400 to 13,100 SF for single or multiple tenants; 280 dedicated parking spaces, a 4.26 per 1,000 SF parking ratio
