32-Unit Apartment
New
For Sale
$1,700,000
4 Bruce Dr, Florissant, MO 63031
Four one-bedroom buildings with off-street parking, pitched roofs, and washer/dryer hookups in each building.
Property Size8,379 SF
Price / SF$202.89
Days on Market5
Property Features for 4 Bruce Dr
General Information
Standard status
Active
Size
8,379 SF
Property subtype
Multi-Family
Occupancy
93%
Additional Details
Multifamily Units
32
Amenities
washer/dryer hookups
Building Details
Year Built
1963
Buildings
4
Listing Agency:
Invest St. Louis
Listed By:
Jordan Schoen · License #2009024331
(314) 238-8603
Source:
Nations-network
Added: Sep 22
Last Checked: Sep 26 at 1:12PM
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 Invest St. Louis
Investment Insights
Based on property information with market context.
The property includes 32 one-bedroom apartment units across four eight-family buildings at 4–16 Bruce Drive in Florissant, Missouri. Built in 1963, the buildings have pitched roofs, spacious common areas, off-street parking, and washer/dryer hookups. The property is currently 93% occupied, with select units held vacant for showings.
The apartments are part of a seven-building community that received more than $1.6 million in capital improvements between 2023 and 2026. Work included electrical upgrades, central air installation, and broader building infrastructure improvements. The property is located minutes from Lambert International Airport and major employers including Boeing and Amazon. Nearby land is planned for future city park development.
A shared maintenance agreement covers exterior common areas, landscaping, lawn care, snow removal, parking, and shared electric. Costs are allocated by unit count across 44 total units, with this property responsible for 72.73% of shared costs. Shared laundry facilities may be added as an additional income source.
The apartments are part of a seven-building community that received more than $1.6 million in capital improvements between 2023 and 2026. Work included electrical upgrades, central air installation, and broader building infrastructure improvements. The property is located minutes from Lambert International Airport and major employers including Boeing and Amazon. Nearby land is planned for future city park development.
A shared maintenance agreement covers exterior common areas, landscaping, lawn care, snow removal, parking, and shared electric. Costs are allocated by unit count across 44 total units, with this property responsible for 72.73% of shared costs. Shared laundry facilities may be added as an additional income source.
Key Highlights
- 32 units in four eight‑family apartment buildings
- One‑bedroom units with washer/dryer hookups in each building
- 93% current occupancy
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
$77,975
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
4.59%
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%
$1,559,500
$1.6M
Cap Rate 7%
$1,113,929
$1.1M
Cap Rate 9%
$866,389
$866.4K
Market Conditions
NOI Build-Up for 8,379 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
$150.8K $18.00/SF
− Vacancy
−$9.0K −$1.08/SF
EGI
$141.8K $16.92/SF
− OpEx
−$63.8K −$7.61/SF
NOI
$78.0K $9.31/SF
Area
St. Louis County, MO
Vacancy
6.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,559,500
Cap Rate 7%
$1,113,929
Cap Rate 9%
$866,389
Alternative Uses
Best Use
Apartment 5plus
$1.11M
$974.7K – $1.30M
NOI $77,975 @ 7.0% cap · market cap 4.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.80M
$1.57M – $2.10M
NOI $125,880 @ 7.0% cap · market cap 7.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
32
Residential units
93%
Occupancy
Location Intelligence
Trade Area within ½ mile
887
Businesses Nearby
Explore this area
Business Placement
Demographics for 63031, MO
47,609
Population
21,159
Households
2.3
Avg Household Size
38
Median Age
28%
College-Educated
92%
High-School Grad
15.1 sq mi
ZIP Area
3,153
Density / Sq Mi
$71,783
Median Household Income
$42,920
Median Earnings
$1,351
Median Rent
$144,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Four one-bedroom buildings with off-street parking, pitched roofs, and washer/dryer hookups in each building.
Where is this apartment building located?
The property is located at 4 Bruce Dr Florissant, MO.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 32 units in four eight‑family apartment buildings; One‑bedroom units with washer/dryer hookups in each building; 93% current occupancy
