Flex Space with Open
For Sale
$749,900
2940 Benton Street St, Louis, MO 63106
Commercial Sale, St Louis, MO
Property Size13,724 SF
Lot Size0.44 Acres
Price / SF$54.64
Days on Market27
Property Features for 2940 Benton Street St
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Penrose Add
Standard status
Active
APN
2357-00-0010-0
Lot size
0.44 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5725
Utilities
Water source
Public
Building Details
Year built
1924
Floors in Building
1
Building materials
Brick, Concrete
Listing Agency:
Wood Brothers Realty
(314) 353-8888
Listed By:
Patrick Wood · License #2004025204
(314) 353-8888
Added: Jul 30
Changed: Aug 24
Last Checked: Aug 25 at 10:06PM
MLS# 26047320
Copyright © 2026 Mid America Regional Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 13,724-square-foot flex property combines an expansive interior layout with brick-and-concrete construction. The building supports a range of commercial functions, including warehouse, distribution, storage, light manufacturing, office, and redevelopment uses. Its adaptable configuration can accommodate different operational or business arrangements.
The property occupies an 18,949-square-foot lot at 2940 Benton Street in St. Louis, within the Jeff-Vander-Lou neighborhood. Access to Interstate 70, downtown St. Louis, and the National Geospatial-Intelligence Agency campus places the facility within reach of major employment and transportation destinations. Public water service is available.
The property occupies an 18,949-square-foot lot at 2940 Benton Street in St. Louis, within the Jeff-Vander-Lou neighborhood. Access to Interstate 70, downtown St. Louis, and the National Geospatial-Intelligence Agency campus places the facility within reach of major employment and transportation destinations. Public water service is available.
Key Highlights
- 13,724 SF flex building with an expansive open interior layout
- 18,949 square foot lot, equivalent to 0.435 acres
- Brick and concrete construction
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
$66,063
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
8.81%
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%
$1,321,260
$1.3M
Cap Rate 7%
$943,757
$943.8K
Cap Rate 9%
$734,033
$734.0K
Market Conditions
NOI Build-Up for 13,724 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
$81.4K $5.93/SF
− Vacancy
−$3.7K −$0.27/SF
EGI
$77.7K $5.66/SF
− OpEx
−$11.7K −$0.85/SF
NOI
$66.1K $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%
$1,321,260
Cap Rate 7%
$943,757
Cap Rate 9%
$734,033
Alternative Uses
Best Use
Warehouse
$943.8K
$825.8K – $1.10M
NOI $66,063 @ 7.0% cap · market cap 8.81%
Second Best
Industrial
$777.2K
$680.1K – $906.8K
NOI $54,405 @ 7.0% cap · market cap 7.25%
Theoretical Best
Office A
$2.95M
$2.58M – $3.44M
NOI $206,179 @ 7.0% cap · market cap 27.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
769
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 63106, MO
9,113
Population
4,620
Households
2
Avg Household Size
32
Median Age
20%
College-Educated
80%
High-School Grad
2.2 sq mi
ZIP Area
4,142
Density / Sq Mi
$21,475
Median Household Income
$25,764
Median Earnings
$739
Median Rent
$186,700
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Brick-and-concrete commercial building offering adaptable space for warehouse, office, storage, distribution, and light manufacturing operations.
Where is this flex space located?
The property is located at 2940 Benton Street St Louis, MO.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: 13,724 SF flex building with an expansive open interior layout; 18,949 square foot lot, equivalent to 0.435 acres; Brick and concrete construction
