Flex Warehouse with Finished
For Sale
$700,000
151 Independence Dr, Union, MO 63084
Flex facility with finished office, 14'–16' clear heights, and multiple drive-in doors for light industrial use.
Property Size7,600 SF
Lot Size0.68 Acres
Price / SF$92.11
Days on Market109
Property Features for 151 Independence Dr
General Information
Standard status
Active
Size
7,600 SF
Lot size
0.68 Acres
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
3
Taxes and HOA fees
Annual Taxes
$5,275
Listing Agency:
ELS Real Estate Group, LLC
(636) 587-0185
Listed By:
Gregory Smart
(636) 587-0185
Source:
Exprealty
Added: May 4
Changed: Aug 8
Last Checked: Aug 19 at 1:43PM
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 ELS Real Estate Group, LLC
Investment Insights
Based on property information with market context.
151 Independence Dr in Union, MO is a flex warehouse built to support both office and operational needs. The front building parcel totals approximately 7,600 square feet and includes about 1,460 square feet of finished office space with multiple private offices and a reception area. The attached warehouse portion is approximately 6,140 square feet with 14'-16' clear heights, three drive-in overhead doors, and a loading dock with leveler. The entire building is all electric, heated, and cooled.
Exterior and site features include gated rear access, parking, and a designated loading area. Solar panels are described as fully functional, with an associated very low monthly electricity expense, and an electricity usage report is available upon request. The property is identified as APN 17-5-22.0-4-008-023.000 and totals approximately 0.68 acres.
For an owner-user, this configuration can work well for contractor and light industrial operations that need on-site administrative space alongside warehouse capacity and straightforward door access for receiving and distribution. For investors or buyers seeking a multi-use setup, the combined office and warehouse layout offers flexibility for a range of warehouse, storage, or distribution-oriented business models, supported by the building’s electric HVAC and loading accommodations.
Exterior and site features include gated rear access, parking, and a designated loading area. Solar panels are described as fully functional, with an associated very low monthly electricity expense, and an electricity usage report is available upon request. The property is identified as APN 17-5-22.0-4-008-023.000 and totals approximately 0.68 acres.
For an owner-user, this configuration can work well for contractor and light industrial operations that need on-site administrative space alongside warehouse capacity and straightforward door access for receiving and distribution. For investors or buyers seeking a multi-use setup, the combined office and warehouse layout offers flexibility for a range of warehouse, storage, or distribution-oriented business models, supported by the building’s electric HVAC and loading accommodations.
Key Highlights
- Front building at 151 Independence Drive offers 7,600+- SF total with 1,460+- SF finished office and 6,140+- SF warehouse/industrial space.
- Warehouse features 14’-16’ clear heights, 3 drive‑in overhead doors, and a loading dock with leveler.
- All‑electric building with heated and cooled space; solar panels are fully functional.
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
$58,607
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
8.37%
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%
$1,172,140
$1.2M
Cap Rate 7%
$837,243
$837.2K
Cap Rate 9%
$651,189
$651.2K
Market Conditions
NOI Build-Up for 7,600 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
$72.0K $9.48/SF
− Vacancy
−$3.1K −$0.41/SF
EGI
$68.9K $9.07/SF
− OpEx
−$10.3K −$1.36/SF
NOI
$58.6K $7.71/SF
Area
Franklin County, MO
Vacancy
4.30%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
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%
$1,172,140
Cap Rate 7%
$837,243
Cap Rate 9%
$651,189
Alternative Uses
Best Use
Office B
$1.46M
$1.28M – $1.71M
NOI $102,436 @ 7.0% cap · market cap 14.63%
Second Best
Warehouse
$837.2K
$732.6K – $976.8K
NOI $58,607 @ 7.0% cap · market cap 8.37%
Theoretical Best
Office A
$2.24M
$1.96M – $2.61M
NOI $156,622 @ 7.0% cap · market cap 22.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
3
Drive-in doors
Location Intelligence
Trade Area within ½ mile
106
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 63084, MO
19,500
Population
8,511
Households
2.3
Avg Household Size
38
Median Age
21%
College-Educated
90%
High-School Grad
76.3 sq mi
ZIP Area
256
Density / Sq Mi
$72,332
Median Household Income
$42,327
Median Earnings
$852
Median Rent
$221,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Flex facility with finished office, 14'–16' clear heights, and multiple drive-in doors for light industrial use.
Where is this flex space located?
The property is located at 151 Independence Dr Union, MO.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Front building at 151 Independence Drive offers 7,600+- SF total with 1,460+- SF finished office and 6,140+- SF warehouse/industrial space.; Warehouse features 14’-16’ clear heights, 3 drive‑in overhead doors, and a loading dock with leveler.; All‑electric building with heated and cooled space; solar panels are fully functional.
