Turn-Key Event/Banquet Center
For Sale
Contact for pricing
Pending
407 Dunn Rd, Florissant, MO 63031
Fully operating event venue with versatile spaces and full kitchen.
Property Size15,917 SF
Days on Market199
Property Features for 407 Dunn Rd
General Information
Standard status
Pending
Size
15,917 SF
Property subtype
Hospitality, Retail
Building Details
Year Built
1975
Buildings
1
Stories
1
Listing Agency:
SHOW-ME REALTY ASSOCIATES
(314) 324-1897
Listed By:
Connie Dunn · License #1999087045
Source:
Crexi
Added: Jan 24
Changed: Aug 11
Last Checked: Aug 10 at 9:18AM
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 SHOW-ME REALTY ASSOCIATES
Investment Insights
Based on property information with market context.
This is an opportunity to own an approximately 16,000 square foot, fully operating event and banquet space. The versatile venue is complete with a large, full-service kitchen and three bars. The large banquet room features movable walls to create two or three smaller spaces. Another elegant space includes a curved bar, dance floor, built-in booths, and floor-to-ceiling windows. Formerly Yacovelli's, this premiere event venue hosts weddings, corporate events, birthdays, celebrations of life, retirements, fundraisers, reunions, and church events. The custom banquet room ceiling came from the historic SS Admiral. The property features a fire sprinkler system, a spacious parking lot, multiple restrooms, and two newer private handicapped restrooms. It also has roof and street pole signage. Centrally located, it is just minutes from Highways 270, 170, 70, 370, and 367, as well as the airport. The property is a turn-key 15,917 square foot event and banquet center. Other possible uses include offices, medical facilities, spa or fitness centers, restaurants, churches, indoor sports facilities, and child or adult daycare centers.
Key Highlights
- Approximately 16,000 Sq Ft of fully operating event/banquet space, offering immediate revenue potential.
- Versatile venue adaptable for various uses including offices, medical, spa/fitness, restaurant, church, indoor sports, or daycare.
- Includes a large full‑service kitchen, three bars, and a large banquet room with movable walls for flexible space configurations.
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
$68,403
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
4.90%
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%
$1,368,060
$1.4M
Cap Rate 7%
$977,186
$977.2K
Cap Rate 9%
$760,033
$760.0K
Market Conditions
NOI Build-Up for 15,917 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
$95.5K $6.00/SF
− Vacancy
−$4.3K −$0.27/SF
EGI
$91.2K $5.73/SF
− OpEx
−$22.8K −$1.43/SF
NOI
$68.4K $4.30/SF
Area
St. Louis County, MO
Vacancy
4.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,368,060
Cap Rate 7%
$977,186
Cap Rate 9%
$760,033
Alternative Uses
Best Use
Office B
$2.77M
$2.43M – $3.24M
NOI $194,242 @ 7.0% cap · market cap 13.92%
Second Best
Specialty Retail
$977.2K
$855.0K – $1.14M
NOI $68,403 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$3.42M
$2.99M – $3.99M
NOI $239,125 @ 7.0% cap · market cap 17.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
592
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Wedding venue - Fully operating event venue with versatile spaces and full kitchen.
Where is this wedding venue located?
The property is located at 407 Dunn Rd Florissant, MO.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: Approximately 16,000 Sq Ft of fully operating event/banquet space, offering immediate revenue potential.; Versatile venue adaptable for various uses including offices, medical, spa/fitness, restaurant, church, indoor sports, or daycare.; Includes a large full‑service kitchen, three bars, and a large banquet room with movable walls for flexible space configurations.
