Building Details

Tenancy Multi

Listing Agency: Berkshire Hathaway HomeServices Select Properties Show Phone

Listed By: Jim VonDerHaar · License #2001013708 Show Phone

Source: Moodyscre

Added: Jul 10 Changed: Sep 9 Last Checked: Sep 13 at 7:17AM

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Investment Insights

Based on property information with market context.

This retail center is offered for sale and includes 33,906 square feet of space on 2.92 acres, currently operating with multiple tenants. The offering is positioned as a visibility-driven retail asset based on the property’s stated high-traffic visibility.

The center’s marketing emphasizes strong customer exposure, supported by the provided remarks indicating both visibility and high traffic. This combination can support a range of retail uses that benefit from walk-in and drive-by demand.

For buyers or brokers evaluating redevelopment, re-tenanting, or portfolio acquisition strategies, the key takeaway is the multi-tenant retail configuration and the overall building and site scale provided with this listing.

Key Highlights

• Retail center offering 33,906 sq ft
• Situated on 2.92 acres
• Multiple tenants in the retail center

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

$456,112

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

8.77%

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%

$9,122,240 $9.1M

Cap Rate 7%

$6,515,886 $6.5M

Cap Rate 9%

$5,067,911 $5.1M

Market Conditions

NOI Build-Up for 33,906 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

$756.8K $22.32/SF

− Vacancy

−$105.2K −$3.10/SF

EGI

$651.6K $19.22/SF

− OpEx

−$195.5K −$5.77/SF

NOI

$456.1K $13.45/SF

Area

St. Louis County, MO

Vacancy

13.90%

Lease Rate

$22.32 /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%

$9,122,240

Cap Rate 7%

$6,515,886

Cap Rate 9%

$5,067,911

Alternative Uses

Best Use

Retail

$6.52M

$5.70M – $7.60M (±1% cap)

NOI $456,112 @ 7.0% cap · market cap 8.77%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$7.28M

$6.37M – $8.49M (±1% cap)

NOI $509,378 @ 7.0% cap · market cap 9.80%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Shopping centers

Suggested Use

Top Pick Real Estate Agency Dental Office Building Supply Law Firm Restaurant Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

452

Businesses Nearby

320k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 40% Apparel 25% Dining 21% Groceries 13%

Hobby Lobby Shops & Services

40,586 visits/mo 0.3 miles

Schnucks Groceries

40,094 visits/mo 0.2 miles

Marshalls Apparel

28,466 visits/mo 0.3 miles

Jo-Ann Fabric and Craft Shops & Services

27,993 visits/mo 0.2 miles

Five Below Shops & Services

20,706 visits/mo 0.2 miles

Demographics for 63021, MO

56,680

Population

22,982

Households

2.5

Avg Household Size

41

Median Age

62%

College-Educated

98%

High-School Grad

21.8 sq mi

ZIP Area

2,600

Density / Sq Mi

$113,822

Median Household Income

$58,800

Median Earnings

$1,362

Median Rent

$324,300

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this shopping centers located? What is the asking price? Find similar properties What are key features of this property?

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Similar Off Market Nearby

• Ellisville Pointe — 15630 Manchester Rd, Ellisville, MO 63011
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Frequently Asked Questions

What type of property is this?

Shopping center - Retail center offering 33,906 sq ft on 2.92 acres with multiple tenants, plus visibility and reported high traffic.

Where is this shopping center located?

The property is located at 15394-15394 Manchester Road Ellisville, MO.

What is the asking price?

The asking price for this property is $5,200,000.

What are key features of this property?

This property features: Retail center offering 33,906 sq ft; Situated on 2.92 acres; Multiple tenants in the retail center