Union, Missouri Medical Investment
1935 Prairie Dell Rd, Union, MO 63084
Leased to St. John's Mercy Health Care through June 2029.
Type:Office
Property size:
14,592 SFPrice / SF:
$219/SF- Added:
- Jan 22, 2024
- Days on Market:
- 896
- Last Refresh:
- Jul 2 at 6:54 am
Property Features for 1935 Prairie Dell Rd
General Information
- Standard status
- Active
- Size
- 14,592 SF
- Property subtype
- Office
Building Details
- Year Built
- 1998
Listing office SVN | Chicago Commercial
Listing date Jan 22, 2024
Source Crexi
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 SVN | Chicago Commercial
HighLights
- Leased to St. John's Mercy Health Care, backed by the Catholic Church institution, providing a stable tenant
- Lease extends through June 2029 with a recently completed early five‑year extension, ensuring long‑term income
- Features two percent (2%) annual rent increases, offering built‑in revenue growth
- Located in a strong retail corridor with national retailers and surrounded by dense residential areas
- Located less than 30 minutes from West St. Louis County, offering accessibility and a growing community
- Tenant has been at the location since 2009, demonstrating a strong operating history
Overview
Located in Union, Missouri, the property is leased to St. John's Mercy Health Care, backed by the Catholic Church institution. The tenant has occupied the location since 2009 and has extended their lease through June of 2029, with two percent annual increases. The property is located at 1935 Prairie Dell Rd, Union, Missouri, just south of Interstate 70, surrounded by dense residential areas and a strong retail corridor with national retailers nearby. Union, established in 1825, is located less than 30 minutes from West St. Louis County, off I-44 in Franklin County. The city has transformed into a bedroom community and industrial hub, with a population of 9,000 residents and over 300 businesses. East Central College, with 3,500 students, is also located in Union. The property size is 14592 square feet.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $336.2k | $23.04 |
| − Vacancy | −$74.0k | −$5.07 |
| EGI | $262.2k | $17.97 |
| − OpEx | −$65.6k | −$4.49 |
| NOI | $196.7k | $13.48 |
14,592 SF · lease $23.04/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.81M
$2.46M – $3.28M
NOI $196,677 @ 7.0% cap · market cap 6.13%
Second Best
Healthcare Medical
$2.47M
$2.16M – $2.88M
NOI $172,754 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$4.30M
$3.76M – $5.01M
NOI $300,714 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Medical centers
Location Insight
- Map
- Local Demand
- City
- Union
- County
- Franklin
- State
- Missouri
- Longitude
- -90.969075
- Latitude
- 38.424388
Nearby Similar for Sale
FAQs
What type of property is this?
Medical center - Leased to St. John's Mercy Health Care through June 2029.
Where is this medical center located?
The property is located at 1935 Prairie Dell Rd Union, MO.
What is the asking price?
The asking price for this property is $3,210,000.
What are key features of this property?
This property features: Leased to St. John's Mercy Health Care, backed by the Catholic Church institution, providing a stable tenant; Lease extends through June 2029 with a recently completed early five‑year extension, ensuring long‑term income; Features **two percent (2%) annual rent increases**, offering built‑in revenue growth
