Office/Warehouse Building with Dock
For Sale
Contact for pricing
2322 S 7th St St, Louis, MO 63104
Office and warehouse space with three dock doors, five offices, and private restrooms under an NNN lease structure.
Property Size19,500 SF
Price / SF$84.36
Days on Market130
Property Features for 2322 S 7th St St
General Information
Standard status
Active
Size
19,500 SF
Property subtype
INDUSTRIAL
Listing Agency:
Kramer Commercial Realty
(314) 502-9155
Listed By:
Mark R Kramer · License #2007037354
(314) 221-6278
Source:
Moodyscre
Added: May 11
Changed: Sep 17
Last Checked: Sep 16 at 8:01PM
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 Kramer Commercial Realty
Investment Insights
Based on property information with market context.
This office/warehouse building offers an adaptable layout featuring open floor space, five offices, and five private restrooms. The property includes three dock doors, supporting practical loading and distribution needs. The offering is described as an NNN lease, with taxes and insurance referenced in the published remarks.
The building is located in the heart of the Soulard neighborhood, with access to major highways including I-55, I-44, and I-64. The listing notes quick commutes across the St. Louis metro area and proximity to downtown St. Louis, major retail centers, and restaurants.
With approximately 19,500 square feet of combined office and warehouse use, the configuration is designed to support operations that require both work space and logistics/loading capability.
The building is located in the heart of the Soulard neighborhood, with access to major highways including I-55, I-44, and I-64. The listing notes quick commutes across the St. Louis metro area and proximity to downtown St. Louis, major retail centers, and restaurants.
With approximately 19,500 square feet of combined office and warehouse use, the configuration is designed to support operations that require both work space and logistics/loading capability.
Key Highlights
- 19,500 +/- SF adaptable office/warehouse space
- 3 dock doors
- 5 offices and open floor layout
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
$93,867
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
5.71%
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%
$1,877,340
$1.9M
Cap Rate 7%
$1,340,957
$1.3M
Cap Rate 9%
$1,042,967
$1.0M
Market Conditions
NOI Build-Up for 19,500 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
$115.6K $5.93/SF
− Vacancy
−$5.2K −$0.27/SF
EGI
$110.4K $5.66/SF
− OpEx
−$16.6K −$0.85/SF
NOI
$93.9K $4.81/SF
Area
St. Louis County, MO
Vacancy
4.50%
Lease Rate
$5.93 /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%
$1,877,340
Cap Rate 7%
$1,340,957
Cap Rate 9%
$1,042,967
Alternative Uses
Best Use
Office B
$3.40M
$2.97M – $3.97M
NOI $237,967 @ 7.0% cap · market cap 14.47%
Second Best
Warehouse
$1.34M
$1.17M – $1.56M
NOI $93,867 @ 7.0% cap · market cap 5.71%
Theoretical Best
Office A
$4.19M
$3.66M – $4.88M
NOI $292,953 @ 7.0% cap · market cap 17.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
745
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 63104, MO
19,317
Population
10,958
Households
1.8
Avg Household Size
34
Median Age
54%
College-Educated
94%
High-School Grad
3.4 sq mi
ZIP Area
5,681
Density / Sq Mi
$70,127
Median Household Income
$53,693
Median Earnings
$1,054
Median Rent
$249,500
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Office and warehouse space with three dock doors, five offices, and private restrooms under an NNN lease structure.
Where is this flex space located?
The property is located at 2322 S 7th St St Louis, MO.
What is the asking price?
The asking price for this property is $1,645,000.
What are key features of this property?
This property features: 19,500 +/- SF adaptable office/warehouse space; 3 dock doors; 5 offices and open floor layout
